Wawa Redux:
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# I don't mean to be too morose here. On the contrary, I take some heart from the information contained herein. It is instructive sometimes to look back at what we could have done, where we should have continued, and what mountains we should have moved, in order to look ahead and have some confidence in our decisions for the future.
# What precipitated this discovery was a prospector, unschooled in Geology, taking a scientific approach in an area where others, like Canabrava, told me was unproductive and unlikely. He came up with a discovery after getting a major company to do a fairly expensive test. It is also noteworthy that this major company, Kennecott, stayed out of the exploration in this area.
# Wildcat Resources had numerous anomalies in this area. Other companies, such as Pele Mountain, now in this area, had told me that "it was highly likely" that we had Kimberlitic dykes, after looking at our maps when we tried to do deals with them. Apparently it was better for them to get their own ground than do a deal with us.
# It is my belief, that since we had picked out anomalies in this area, which were similar to anomalies which later proved to be diamondiferous, that if we had the funds at that time, these mentioned discoveries might have been ours. I did what I thought was my best ar the time, but lost heart at raising money all too soon. It was all the more frustrating then, since I had a pretty good idea what we might be throwing away.
# As you may remember we (Wildcat) used to have ground in this area back in 1995. I could probably still renew it but it's dodgy. We predicted the probability of diamonds there, but people would not give us a (damn) dime for our ground. Sad. We know the people who are fronting this discovery and the people who sold them the original ground. It is very frustrating to be first and not even honoured.
EC<:-}
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Band-Ore recovers 0.254-carat diamond
Band-Ore Resources Ltd BAN
Shares issued 25,218,224 Jun 15 close $1.05
Mon 18 Jun 2001 News Release
Mr. Wayne O'Connor reports
A 0.254-carat diamond described as a broken, white
octahedral measuring 3.74 millimetres by 3.30 mm by 3.10 mm
from a 12.5-tonne exploration sample has been recovered.
This clearly demonstrates that larger, commercial sized
diamonds are present in the Engagement zone (EZ) (formerly
called the area E diatreme). The 0.254-carat stone recovered
from the GQ property is the largest diamond recovered from a
bedrock source in the Wawa area.
In addition to the 0.254-carat diamond, 29 other diamonds
ranging in size from 3.06 mm to 0.70 mm were also recovered
from this sample. Twenty-seven of the diamonds had two
dimensions greater than 1.0 mm, four of which had two
dimensions greater than 2.0 mm. The diamonds varied in
colour; 13 white, six yellow, three pink, three brown, two
gray and three black diamonds. The procedure selected for
the processing of the sample recovers diamonds with at least
two dimensions greater than .85 mm. The company's main
reason for extracting and processing such a sample at this
early stage of exploration was to determine if larger
commercial size diamonds occur in association with the
previously reported anomalous microdiamond and macrodiamond
results from the Engagement zone.
The company extracted and shipped the 12,542-kilogram
exploration sample to the diamond processing facility of
Saskatchewan Research Council (SRC) in Saskatoon, Sask., an
experienced laboratory in the recovery of diamonds.
Standard laboratory security, processing and quality
control protocols were assured by the laboratory. Diamonds
were extracted by caustic digestion of a 0.85 mm to eight mm
heavy mineral jig concentrate.
The results of the 12.5-tonne exploration sample
(a total of 30 diamonds weighing 0.607 carat) compare
favourably with previous results obtained by caustic fusion
processing. To date, the company has processed 11 samples
(389.4 kg) by caustic fusion from the Engagement zone,
recovering more than 12,000 diamonds, including 319
macrodiamonds (diamonds with at least one dimension greater
than 0.5 mm). Of the 319 macrodiamonds recovered by caustic
fusion processing, two diamonds had two dimensions greater
than 0.85 mm, and only these diamonds would have been
recovered by the jig process employed on the exploration
sample.
The company also reports that it has received the
results for caustic fusion processing of two additional
samples in the vicinity of the Engagement zone. One sample
was collected approximately 100 metres northwest of the
location of the exploration sample. Sample 51263 weighing
46.8 kg, contained 47 macrodiamonds and 446 microdiamonds.
These results compare favourably with other diamond results
from the Engagement zone. This sample demonstrates that the
high diamond content of the EZ diatreme continues for a
length of at least 250 metres.
A second sample was collected approximately 300 metres
due north of the Engagement zone and likely represents yet
another diamond-bearing breccia.
The 32 kg sample contained 10 microdiamonds. Numerous
near-source boulders were also located along the same
northwest trend. The significant early results and the need
for further geological information has led the company to
make the decision to initiate a diamond drill program during
the summer to further establish the dimensions and confirm
the geometry of the Engagement zone. Processing of several
additional multitonne samples will be required in order to
further evaluate the economic diamond potential of the EZ
diatreme.
Additional mechanical stripping, trenching, mapping and
technical studies are also planned for this summer and fall,
both on the Engagement zone and other similar breccias that
remain virtually unexplored in other areas on the GQ
property. Numerous macrodiamonds have been recovered from
these identified but unevaluated breccias. Based on the
geological interpretation and the significant results from
the EZ diatreme, the company has submitted an application to
acquire an additional 14 square kilometres in the immediate
area of the GQ property.
Immediately adjacent to the north of the GQ property,
Pele Mountain Resources Ltd. today announced five new
diamond discoveries. Three of the new discoveries are
located one kilometre or less from the northern boundary of
the GQ property. All of the diamond discoveries on the
Band-Ore property strike northwest-southeast, as do the
enclosing rock units implying some relationship between the
diamond discoveries on the two properties.
The company also announces that on June 15, 2001, it
completed a private placement of 139,000 flow-through
special warrants at 72 cents per warrant, raising gross
proceeds of $100,080. Each special warrant is exercisable,
for no additional consideration, into one flow-through
common share and one-half of one common share purchase
warrant. Each common share purchase warrant entitles the
holder to purchase one common share of Band-Ore at $1.00
until Dec. 15, 2002. The proceeds of the offering will be
used to continue the exploration of Band-Ore's GQ diamond
property.
(c) Copyright 2001 Canjex Publishing Ltd.
stockwatch.com
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