News out on Friday.
CALDERA DISCOVERS FIRST DIAMOND AND FURTHER
INDICATOR MINERAL RECOVERY
TORONTO, ONTARIO--
The directors of Caldera Resources Inc. are very pleased to
announce the first discovery of diamond from one of the pipes the
Abminga kimberlitic pipe field in South Australia.
The discovery was made in a small drill-core sample, processed for
heavy minerals by caustic fusion, at the Lakefield Research Limited
laboratory in Canada. The caustic fusion technique is not
commercially available in Australia. The sample weighed 3kg. and
was from a group of samples obtained from the Caldera deep drilling
programme of 1996. This programme was designed to determine the
characteristics of the pipe material below the weathered zone.
The diamond is a clear, colourless, irregularly shaped crystal with
its major axis measuring .75mm long and therefore is regarded as a
small macrodiamond. Along with the diamond, another grain was
observed which is possibly described as carbonado, a dull grey to
black porous form of diamond.
The sample that contained the diamond and carbonado was one of
several check repeat samples processed by Lakefield in order to
confirm the discovery of abundant indicator minerals from an
earlier batch. All samples were from below the weathered zone.
The drill-core samples came from three separate pipes. The first
set of samples and the repeat check samples contained an abundant
suite of important indicator minerals, not all of which had
previously been found, including chrome-rich pyrope garnet,
chromite, picroilmenite, chrome-diopside, forsterite olivine,
perovskite and phlogopite. Electron probe analyses of these
minerals are not yet fully completed, but the results to date
indicate that they were sourced from peridotitic, eclogitic and
harzburgitic material. A more detailed report will be issued after
all the analyses have been completed and studied. It would appear
that the indicator suite is suggestive of a kimberlite rather than
a lamproite origin.
Further drilling to investigate some of the pipes to a depth of at
least 400 metres will commence in July 1997. This will provide
small bulk samples of up to 40kg. which will be more suitable for
diamond testing than any previous samples which were only designed
to be tested for indicator minerals.
Mr. C. Reindler, President, who has been involved with the project
since the first staking of land took place says that these results
now elevate the project to one of greater magnitude and will
provide the Company with new opportunities as the exploration
programme continues.
Dr. Daniels, who is responsible for the mineralogical studies
regards this new discovery as highly significant for Caldera
and upgrades the Abminga pipe field to a very important exploration
target area. There are approximately 250 significant magnetic
targets in the Company's leases and all of these remain to be fully
tested for their diamond potential. The challenge to Caldera now
enters a new important phase.
For further information please contact:
Chris Reindler, President
Telephone: 011-6189-367-7728 Facsimile: 011-6189-367-7705
John Daniels, Chairman
Telephone: 011-6189-364-4645 Facsimile: 011-6189-367-7705
Maria Bruzzese, Northern Securities Inc.
Telephone: 416-350-2044 ext. 232 Facsimile: 416-350-2114
Jason Shepherd
Telephone: 250-717-1910 Facsimile: 250-717-1909
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY
AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED
HEREIN.
Canada Australia
200 Bay Street 1 Charles Street
Suite 2220, P.O. Box 123 Suite 8
Toronto, Ontario, M5J 2J3 South Perth, Western Australia
Telephone: 416-350-2044 ext. 232 Telephone: 011-6189-367-7728
Facsimile: 416-350-2114 Facsimile: 011-6189-367-7705
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