Isn't this next to Southern & Mill City
Re: News Release - Thursday, March 07, 2002
Caustic Fusion Results From Carat Property
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Diamondex Resources Ltd. (DSP-CDNX) has received microdiamond results from
caustic fusion analysis of CT-55 kimberlite drill core intersections
obtained during the 2001 drill programs on the Carat property. Located 340
km NE of Yellowknife NWT, the claim group comprises 94,300 acres and
immediately adjoins the northern claim boundary of the Ekati Mine property.
Diamondex operates the Carat property on behalf of a joint venture in which
Diamondex has a 70% interest and Tyler Resources Inc. has the remaining
30%.
The CT-55 kimberlite was discovered in April of 2001 as previously
reported. Since that time, several unsuccessful attempts have been made to
drill through the overlying crater facies material. Following the last
unsuccessful attempt, 242 kg of this crater facies material was submitted
to Lakefield Research Ltd. for caustic fusion analysis. A total of 2
diamonds were recovered. The larger of the stones remained on the .425 mm
square mesh sieve and the smaller diamond did not pass through the .150 mm
sieve.
The geophysical expression of the CT-55 kimberlite is represented by
coincident magnetic, gravity, and EM anomalies. The negative magnetic
anomaly is comprised of an eastern and western lobe, which together measure
approximately 200 meters by 100 meters. A third magnetic lobe measuring
approximately 50 meters by 50 meters adjoins the northern boundary of the
first two lobes. To date, all drill core recovered have come from the
eastern lobe. The western and the northern lobes remain untested.
Chemical analyses of chromite grains recovered from drill core indicate
that a substantial portion originated from within the diamond stability
field. Consequently, the Company remains encouraged that other kimberlite
facies within the CT-55 anomaly may contain more significant diamond
grades. In addition, several permissive geophysical targets remain to be
tested elsewhere on the property. The joint venture partners are presently
evaluating all available information with the view of determining future
programs for the Carat property.
DIAMONDEX RESOURCES LTD.
"John A. McDonald"
John A. McDonald, Director |
