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Gold/Mining/Energy : Diamonds North Resources Ltd

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To: Letmebe Frank who wrote (215)9/23/2003 5:45:30 PM
From: kidl  Read Replies (1) of 334
 
Diamonds North releases first batch of Blue Ice results

Diamonds North Resources Ltd DDN
Shares issued 13,047,885 Sep 22 close $0.63
Tue 23 Sept 2003 News Release
Ms. Nancy Curry reports
MORE LARGE DIAMONDS ON BLUE ICE
Diamonds North Resources has released diamond results for the SLT 4 kimberlite which was discovered in 2003 along the Galaxy kimberlite structure. This is the first batch of diamond results from the jointly financed Diamonds North/Teck Cominco Ltd. 2003 work program on the Blue Ice project on Victoria Island. Approximately 2,700 kilograms of sample collected from 11 kimberlite bodies have been submitted for diamond recovery. A 79.81-kilogram sample from the SLT 4 kimberlite that forms part of the 20-kilometre-long Galaxy kimberlite structure yielded 44 diamonds. Ten of the 44 stones are classified as macrodiamonds, including three diamonds with dimensions greater than one millimetre, as shown in the table below.

DIAMONDS RECOVERED

Sample +0.5 mm +1.0 mm
Kimber- weight one two one two
lite (kg) Tot. axis axes axis axes

SLT 4 79.81 44 10 7 3 1

Twenty three per cent of the recovered stones are macrodiamonds, with 7 per cent exceeding one millimetre in one dimension. The three largest stones have the following dimensional measurements:

THREE LARGEST STONES (MM)

1.71 0.66 0.19

1.28 1.00 0.57

1.08 0.57 0.37

Full square mesh sieve diamond results for the SLT 4 kimberlite sample are
shown below. These results demonstrate a favourable diamond size
distribution highlighting the presence of larger diamond sizes. The frequency of large diamonds is consistent with other kimberlites along the Galaxy structure.
Kimberlite: SLT 4
Weight (kilograms): 79.81

Sieve
size
(mm) Count

+0.100 12
+0.150 14
+0.212 9
+0.300 3
+0.425 4
+0.600 2
--
Total 44

The discovery of the SLT 4 kimberlite is important as it demonstrates continuity of kimberlite along a 6.5-kilometre diamondiferous kimberlite system on the southeast portion of the Galaxy kimberlite structure, and it adds tonnage to the existing system. The high proportion of large diamonds (greater than 0.5 millimetre) in the SLT 4 kimberlite, including diamonds greater than one millimetre, reflects the potential for this kimberlite to carry economic diamond grades. Results from SLT 4 are consistent with the overall nature of the kimberlite forming the Galaxy structure, where moderate to high diamond counts accompany larger diamonds. SLT 4 is a kimberlite dike forming part of the 20-kilometre-long Galaxy structure; it occurs 6.5 kilometres from the southeastern end of the structure. This dike is outlined by geophysical data as a distinct magnetic anomaly up to 75 metres wide. Drill hole BI-03-05 drilled at negative 85 degrees, to maximize sample collection, intersected a 41.27-metre zone of kimberlite. True thickness of the kimberlite intersection is 3.6 metres, including two limestone blocks measuring one metre and 0.19 metre, respectively. Another nearby drill hole, BI-03-04, drilled at negative 60 degrees, intersected 1.72 metres of kimberlite. The SLT 4 kimberlite is classified as olivine macrocrystic hypabyssal kimberlite with abundant mantle-derived indicator minerals. The 79.81-kilogram sample combined seven samples from hole BI-03-05 and one sample from hole BI-03-04. Kimberlite samples were split and logged in secure facilities at the field camp by qualified geoscientists. Samples were securely sealed in solid containers and shipped by air to SGS Lakefield Research in Ontario. SGS Lakefield's standard caustic fusion diamond recovery method was used for all samples. SGS Lakefield is accredited by the Standards Council of Canada to the ISO/IEC Guide 25 standard for specific registered tests.
(c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com

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