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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT

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To: Ed Pakstas who wrote ()	2/11/1998 10:56:00 AM
From: Don	Read Replies (1) of 930

Mount Hope Resources Corp - Evidence of kimberlite pipes discovered in Northern Alberta Mount Hope Resources Corp MH Shares issued 5100000 1998-02-10 close $0.7 Wednesday Feb 11 1998 Mr Scott Angus reports The company has received data from the previously announced infill aeromagnetic survey and has retained Mr Bruce Counts, an expert geoscientist and owner of Lithoquest International Mineral Exploration Services to interpret the results. Mr Counts has extensive experience in the field of diamond exploration and kimberlite identification having participated in the discovery and development of BHP's Northwest Territories diamond project from 1992-1997. Mr Counts is currently a consultant to several companies including Dia Met Minerals. The original aeromagnetic survey was flown on 500,000 acres at 600m spacing on the company's western block. The interpretation of this survey revealed over 20 anomalies. To further enhance these results the company conducted an infill survey flown at 100m spacing on the 12km, anomalous section of the property. Mr Counts evaluated each of the data sets in order to identify magnetic anomalies that have the character typical of other known kimberlites; that is, discreet roughly circular to ovoid magnetic highs or lows. According to Mr Counts, numerous kimberlite type magnetic anomalies were identified within Mount Hope's permit area. These anomalies were then cross checked to eliminate any cultural features that may have existed. The final results of the culture check have revealed 24 potential targets, several of which are found on topographic highs. All of the targets noted here are of a subtle nature, but are consistent with signatures from other known kimberlites. Mount Hope has also received the results of an electronic microprobe analysis of indicator minerals recovered from stream samples collected in the southwestern portion of its Buffalo Hills Land claim in the proximity of the magnetic anomalies. The purpose of this survey was to confirm the presence of kimberlite indicators in the anomalous region. The sampling program, conducted by Mr George Read of George Read Consulting, was hindered by weather conditions resulting in only eight samples being collected. Freezing conditions in the tributary drainages limited sampling to the larger drainage system of the Botha River. Overburden Drilling Management of Nepean, Ontario processed the samples with selected indicator minerals being sent to R.L. Barnett Geological Consulting in London, Ontario for electron microprobe analysis. Microprobe indicators recovered from analysis of sample 97-05 revealed six garnets and one clinopyroxene. The composition of the clinopyroxene is consistent with lherzolitic clinopyroxene and contains elevated counts of magnesium along with sodium and chromium suggesting that it is likely derived from a diamondiferous kimberlite. Management believes the results from each of these surveys are important as they reveal the presence of diamondiferous indicators and kimberlite pipes within Mount Hope's land claim in the region of the Botha River drainage and the Chinchaga Craton. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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