News Release Sep 19,1997
as carried by Stockwatch
Aeromagnetic data acquired for Chinchaga Craton diamond properties
Marum Resources Inc MMU
Shares issued 14,903,616 Sep 23 close $0.165
Wed 24 Sept 97 News Release
Mr Richard Boulay reports,
The company reports that it has acquired high resolution aeromagnetic data
covering its Chinchaga Craton diamond properties in northern Alberta. Data
acquisition was performed by Spectra Exploration Geoscience Corp of
Calgary. Spectra is currently processing the data for high frequency,
shallow targets which also have deep root expressions. A preliminary review
of the unprocessed data indicates several areas of potential interest,
including localized, high frequency anomalies which are powerful enough to
appear on the total field magnetic maps.
Marum's Chinchaga Craton diamond properties consist of a 100% interest in
400,000 acres of permits distributed in a north-south pattern adjacent to
and immediately west of a property which Mount Hope Resources recently
reported as containing over 20 anomalies which appear in a cluster.
Marum's properties were specifically acquired to capture a coincidence of
diverse geological conditions which favour the localization of kimberlite
pipe targets. These conditions include:
A requirement that the underlying craton possess thick, cool roots that
have not been subjected to thermal re-heating. Both the Chinchaga Craton
and the associated Buffalo Head Craton have these characteristics. The
Alberta Geological Survey report "Diamonds in Alberta" favours the
Chinchaga over the Buffalo Head as a potential diamond host terrane on the
basis of the Chinchaga's mix of Archean isotope geochemistry and cooler,
deeper crustal roots.
The existence of a pronounced gravity low within the craton to pinpoint the
location of super-cool root zones. Regional gravity data clearly shows that
the Chinchaga and Buffalo Head Cratons form a single circular unit, similar
in size and shape to the Slave Craton in the NWT. A pronounced ring shaped
gravity low occurs within the Chinchaga-Buffalo Head Craton complex. Both
the Ashton and Monopros kimberlite pipes occur on this low-gravity ring.
The core Ashton permits appear to cover approximately 30 degrees of
circumference on the east side of the Chinchaga-Buffalo Head low-gravity
ring. The Marum properties cover approximately 45 degrees of circumference
on the west side of the ring.
The presence of deep, crustal faults. It appears that the distribution of
kimberlite pipes in northern Alberta is directly related to the deep,
crustal scale faults associated with the Peace River Arch, especially in
areas which contain swarms of smaller stress release faults. Satellite
imagery indicates that this apparently essential structural combination
exists in the core Ashton permit block as well as in Marum's Chinchaga
properties where the Chinchaga valley itself is the surface expression of a
deep crustal fault.
The presence of Shaftsbury Embayments. The Wabasca, Peace River and
Chinchaga erosional embayments expose the upper Cretaceous Shaftsbury
formation to the surface. The Shaftsbury formation is now known to be rich
in kimberlitic volcanic ash layers. If, as is suspected, the Ashton pipes
are of Shaftsbury age (90 to 95 million years old) the properties located
in the Shaftsbury embayments will have the potential for Shaftsbury age
pipes to occur at surface rather than being deeply buried by overlying
sedimentary rocks. The Marum Chinchaga properties and the Ashton Buffalo
Head property are both located in Shaftsbury embayments.
The presence of diamond indicator minerals. Marum has previously reported
the existence of indicator minerals in the area and the recovery of two
clear microdiamonds from a trench sample of a Cretaceous age sedimentary
rock outcrop located on one of its Chinchaga Craton properties.
A geological and sampling crew will be dispatched to the Chinchaga area in
advance of the receipt of the processed aeromagnetic data in order to
investigate the stronger anomalies.
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