Hi everyone,
Here is the Royce Diamond release:
GMD RESOURCE CORP.
1601-543 GRANVILLE STREET
VANCOUVER, BC V6C 1X8
Tel: 604-662-3350
Fax: 604-685-9141
U.S. & Canada toll free:
1-800-808-3350
E-mail: gmdres@portal.ca
Is this significant?
Please interpret what this means. I am at a loss
as to how the market will react to this if at all?
Thhanks,
Doug
October 10, 1997
GMD RESOURCE CORP. ANNOUNCES HIGH INTEREST INDICATOR
MINERAL RESULTS ON THE ROYCE GROUP DIAMOND PROPERTY, N.W.T.
GMD Resource Corp. is pleased to announce that the 1997 summer sampling program on the
100% owned Royce Group of claims, in the south-western part of the Slave Archean Craton,
N.W.T. has been successfully completed. The 1085 samples, collected during the 1997
sampling program, have been dispatched to Overburden Drilling Management Ltd. for
concentrate production and kimberlitic indicator mineral recovery. Processing of backlogged
1996 samples is progressing well and diamond indicator mineral recovery from these 1996
samples is expected to be completed by mid-October 1997.
Interim 1996 results received from Overburden Drilling have highlighted an area of significantly
high indicator mineral counts. Twelve samples from this area have each produced in excess of
10 kimberlitic indicators, of which three samples have produced 28, 21 and 20 indicators,
respectively. These samples represent the finest indicator recoveries received to date and are
located in close proximity to a magnetic low defined from an airborne geophysical survey.
These results were received in time to carry out close-interval, follow-up till sampling of this
significant area as part of the 1997 sampling program. Priority processing has enabled
Overburden Drilling to complete the treatment of many of these 1997 follow-up samples.
Initial results just received suggest that this high interest glacial dispersion train terminates within
the Royce Group of claims. Initial microprobe results of these high-count samples indicate the
presence of important subcalcic (G10) garnets. These garnet compositions suggest a
diamondiferous kimberlite as the source of these indicators. A crew has been mobilized to
evaluate and prospect this high interest area for possible kimberlite outcrops.
Sediment sampling programs carried out in the Royce Group in 1995 and 1996 have identified
substantial counts of indicator minerals. Many highly subcalcic (G10) garnets (see attached
Cr2O3 vs. CaO diagram), in addition to significant counts of chrome diopside and some
ilmenite and chromite, have been recovered from a number of these sediment samples. The
composition of these indicators, particularly the garnets and clinopyroxenes, suggests
derivation from diamondiferous kimberlite sources. The geographic distribution of these
indicators points to the presence of a number of possible indicator dispersion plumes from
kimberlites thought to be located within the Royce Group. The 1997 sediment sampling
program was designed to grid-sample unsampled areas as well as follow-up existing positive
sampling results and geophysical targets.
This large contiguous block of claims (650,000 acres) that comprise the Royce Group is
located approximately 120 km northwest of Yellowknife, N.W.T. Additional sample results
are anticipated over the next few weeks and these will be used to help prioritize drill targets for
the planned winter drilling program.
On behalf of the Board
GMD RESOURCE CORP.
Don Farrell
President
There is a known relationship between subcalcic (G10) garnets and diamonds, as these
garnets occur as inclusions in diamonds. These garnets from in depleted mantel, which is a
highly favourable environment for the formation of diamonds.
e-mail: gmdres@portal.ca
WWW: stockgroup.com |
