ISLAND-ARC RESOURCES PRESS RELEASE - May 13, 1998:
SouthernEra Resources Ltd. has made the following report to its partners, Island-Arc Resources Corporation and Kalahari Resources Inc., regarding the Back Lake, N.W.T. diamond exploration project:
The primary focus of the Back Lake diamond exploration project since November, 1997 has been to locate the primary kimberlite source of the ice-transported "Yuryi" kimberlite float material discovered on the shore of Munn Lake during August, 1997.
The "Yuryi" kimberlite float material is located within a 150 metre diameter area with some of the larger pieces of kimberlite being in the 10 to 20 metre diameter range. There is also a strong development of kimberlite mud located along the Munn Lake shore.
Microdiamond testing of the "Yuryi" kimberlite float material has returned 226 diamonds from 581.29 kg of treated kimberlite. Sixty-two diamonds are greater than 0.5 mm in their largest dimensions, with one 0.12, one 0.03 and three 0.01 carat diamonds being recovered. Overall, the majority of the diamonds are clear and colourless.
Diamond drilling to test 10 high priority ground geophysical magnetic and electromagnetic targets in Munn Lake that are located up-ice of the "Yuryi" kimberlite float area was completed on May 10, 1998. One 0.75 metre wide kimberlite dyke was intersected.
The program to date has located 13 kimberlite dykes that occur in the vicinity of the "Yuryi" kimberlite float discovery area. However, a comparison of the chromite microprobe chemistry between the chromites hosted by the kimberlite dykes and the chromites hosted within the "Yuryi" kimberlite float material suggest that they may not be related.
Between March and May, 1998 a 335 line kilometre picketed grid was established covering a portion of Margaret Lake. Till sampling has defined a strong kimberlite heavy mineral indicator train that has been traced to the western shore of Margaret Lake. A ground magnetometer and horizontal loop electromagnetic survey, a bathymetry survey (lake bottom depth) and the collection of 980 lake bottom sediment geochemical samples at 100 metre centres on the grind were completed.
A total of six diamond drill holes tested 5 ground geophysical targets that could be representative of kimberlite pipe intrusions located within the Margaret Lake grid area returned negative results.
The Margaret Lake grid lake bottom sediment geochemical samples will be analyzed for elements that are found in significant concentrations in kimberlite rock such as chrome, magnesium, titanium niobium, rubidium, etc. Assay results will be available by July, 1998 and this will define specific areas within the Margaret Lake grid sediments that host anomalous concentrations of kimberlite elements. The survey should narrow down the search area in order to locate the kimberlite pipe source of the Margaret Lake kimberlite heavy mineral indicator train.
The future of the Back Lake diamond exploration project will be to continue to locate the primary kimberlite sources of the transported "Yuryi" kimberlite float material (Munn Lake area) and the Margaret Lake kimberlite heavy mineral indicator train.
A program to sample till material from the lake bottom of Munn and Margaret Lakes utilizing a sonic drill will commence when ice conditions during this forthcoming winter permit. The till material will be processed for the recovery of kimberlite heavy mineral indicators at the Munn Lake camp and this will hopefully define an up ice cut-off to the "Yuryi" kimberlite float and Margaret Lake kimberlite heavy mineral trains within Munn and Margaret Lakes.
Approximately 200 till samples will be collected from the property during July and August, 1998. The main focus of the sampling survey will be to follow up two poorly defined kimberlite indicator mineral trains that occur within the Back Lake property area.
ON BEHALF OF THE BOARD OF DIRECTORS
OF ISLAND-ARC RESOURCES CORPORATION
Lawrence D. Barr
President |
