Hello John
Island Arc put out a NR today, posted below.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ISLAND-ARC RESOURCES CORPORATION
VSE SYMBOL: IAR
SEPTEMBER 25, 1997
Island-Arc Resources: Back Lake Diamond Project Update
VANCOUVER, BRITISH COLUMBIA--Island-Arc has received the following
update of exploration activities at the Back Lake Diamond Project,
from the project operator, SouthernEra Resources Ltd.:
"Drilling started on the company's Back Lake kimberlite targets
during the first week of September. Initially the program will
focus on testing of the Yuri kimberlite occurrence, discovered
earlier in August while following up a strong indicator mineral
train in glacial tills. Two small macrodiamonds were recovered
earlier from small (approximately 10 kg) weathered kimberlite soil
samples taken on the occurrence. (Press Release August 19, 1997).
Magnetic surveys recently completed, indicate the Yuri occurrence
is associated with a composite magnetic feature. The drilling will
test this and other nearby geophysical targets. Additional test
pits are being excavated in the vicinity of the original
discovery, and in an up ice direction to try and determine the
distribution and source location of the kimberlite material.
A 50 kg sample of decomposed kimberlite till, and clay rich soil
taken from the area has now been processed by caustic fusion at
Lakefield Research. An additional five macrodiamonds and two
microdiamonds have been recovered from the caustic fusion residues
from this material. One macro diamond measured 5.0mm in the
largest dimension, and weighs 0.12 carats. The stones are
generally similar to the two 0.8 mm macrodiamonds recovered
earlier. An additional material 220 kg of kimberlitic till and
soil is being tested.
Kimberlitic indicator minerals recovered from the till samples
have been analyzed and returned very good chemistry with over
one-third of the pyrope garnets classified as G-10s. Ilmenite
analyses indicate that several kimberlite sources are present.
Other nearby land accessible targets on the Back Lake property are
being tested in the current program. All geophysical and indicator
mineral signatures in the area will be re-evaluated on an ongoing
basis. Once ice conditions permit, after freeze-up, additional
geophysics will be conducted on the nearby lake surfaces.
The detailed till sampling program is continuing to follow up the
geophysical and indicator mineral anomalies located last season.
At least four separate targets are expected to be tested during
the current program and a minimum of 1,500 meters of drilling will
be required." Island-Arc has a 1.78 percent participating interest
in the Back Lake Diamond Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ISLAND-ARC RESOURCES CORPORATION
Kim M. Phillips, President
I suspect this is the same as KLA's release.
Regards |
