Re: Ashton/Tahera etc., Nunavut play last post,...the squished hamster brain farts every now and then,...Hope Bay(Miramar is not on strike,...yet) move a few bays west to Hornby Bay, Coppermine area.
Hornby receives interest in Nunavut diamond exploration
Hornby Bay Exploration Ltd (YHB) News Release
Mr. James Brady of Hornby Bay reports
A new diamond district is emerging in Nunavut and a major staking rush is
under way. Very encouraging microdiamond and macrodiamond counts in drill
core have been announced recently by Ashton Mining of Canada Inc. and by
the Kennecott-Tahera joint venture. The area, known as the Coronation
diamond district, has produced a number of diamondiferous kimberlite
discoveries of which by far the most significant are Ashton et al's
Artemisia and Potentilla kimberlite pipes which are approximately 30
kilometres (20 miles) on strike to the southeast of Hornby Bay's
225,000-acre 100-per-cent-owned Asiak block. The Artemisia pipe has yielded
342 microdiamonds and 38 macrodiamonds from 103.2 kilogram drill core
sample (see Stockwatch Nov. 1, 2001). The Potentilla kimberlite yielded 230
microdiamonds and 22 macrodiamonds from a 207.8-kilogram sample.
These results compare favourably with the original Ekati and Diavik diamond
counts in 1991 through 1994 that sparked the largest claim staking rush in
Canadian history.
In the late summer 2001, Hornby Bay allowed a major company to process its
airborne digital data covering its entire 525,000-acre 100-per-cent-owned
mineral holdings in Nunavut. Although the Hornby Bay surveys were flown at
250- and 200-metre line spacing, which is not optimal for kimberlite
exploration, numerous targets that could be kimberlites were identified. It
being late in the season when these data were received, no attempt was made
to follow up or develop new targets at that time. Discussions, however,
have been held with a number of companies which have expressed an interest
in participating with Hornby Bay in diamond exploration on the company's
claims, and those discussions are continuing. Hornby Bay's properties were
originally acquired for the high-grade unconformity-type uranium and
Olympic Dam-type base and precious metal potential and these still remain
the high priority of the company. Hornby Bay has been attempting to
determine the diamond potential of its claims in light of the exploration
results identifying diamondiferous kimberlites to the northwest, south,
southeast and east of its holdings, particularly the most recent Artemisia
and Potentilla discoveries. Management believes that these developments and
the entry of many juniors acquiring claims in the area may herald the
beginning of the next mining exploration boom in Canada.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com |
