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Diamonds North adds 11 kimberlites in 2002 program
Diamonds North Resources Ltd DDN
Shares issued 10,001,033 Oct 17 close $0.66
Thu 17 Oct 2002 News Release
Mr. Bernard Kahlert reports
DIAMONDS NORTH'S VICTORIA ISLAND KIMBERLITE COUNT REACHES TWENTY-SEVEN Diamonds North Resources' 2002 Victoria Island exploration program has resulted in the discovery of 11 new kimberlites. Six new kimberlite bodies were discovered on the wholly owned Blue Ice project and five new kimberlite bodies on the Hadley Bay project. This brings the total of known kimberlites to 27. The 2002 Victoria Island exploration program was designed to discover and recover samples of kimberlite to assess the diamond potential of each kimberlite. To increase the company's rate of success, high-priority geophysical anomalies with high-interest mineral chemistry were targeted for drilling. Also, four previously discovered kimberlites were retested on the basis that the mineral chemistry indicated higher diamond potential than first reported. Blue Ice project The Blue Ice project is wholly owned and operated by Diamonds North. Six new kimberlite bodies were discovered in the 2002 exploration program; Virgo, Vega, Sculptor, Pegasus, Zeta and Carina. Additional testing was also done on the Sand Piper and Snow Bunting kimberlites. A total of 217 kilograms of kimberlite was sampled by splitting drill core plus an additional 750 kg of kimberlite was collected from subcrop from three separate discrete kimberlites. The company has identified the Galaxy Structure, a 20-kilometre structure with semi-continuous kimberlite on the Blue Ice property. To date the company has only tested the Nunavut portion of the Galaxy structure and plans to test the Northwest Territories portion in 2003. The following table details the kimberlite, location, sample type collected and the status of diamond analysis
GALAXY STRUCTURE KIMBERLITES
Kimberlite Location Sample Result
name on trend type status
Snow
Bunting Km 1 Drill Results
core pending
Virgo Km 2 Drill Results
core pending
Sand Piper Km 2.5 Drill Partial
core results
in
Vega Km 3.5 Drill Results
core pending
Pegasus Km 4.7 Subcrop, Results
boulders pending
Sculptor Km 5 Subcrop, Results
boulders pending
Zeta Km 6.5 Subcrop, Results
boulders pending
Carina Km 10 Drill Results
core published
Hadley Bay project
Diamonds North, owner and operator, has granted Canabrava Diamond
Corporation an option to earn 50 per cent of the project by spending $5-million on exploration over a four-year period. Five new kimberlite bodies were discovered during the 2002 exploration drill program. A new cluster, named the Apollo cluster, includes the Apollo, Neptune, Diana and Pluto kimberlites. The fifth kimberlite discovered is named Juno; it is located near the King Eider kimberlite. The King Eider kimberlite pipe was retested and three new phases of kimberlite were encountered in two drill holes. In addition to drilling, a 20-kilogram sample of subcrop exposure was taken from the Turnstone kimberlite. A total of 1,000 kg of drill core from the Hadley Bay project has been sent to SGS Lakefield for analysis; results are expected periodically till the end of the year. Victoria Island is Canada's second largest island, and, at 217,290 square kilometres, the world's ninth largest. Victoria Island lies north of the Arctic mainland and is part of both Nunavut and the Northwest Territories. It is underlain largely by Archean craton overlain by sedimentary rock, with complex glacial landforms.
(c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com |
