Hello Eric: There is no doubt a very complex system at Snap Lake.,
so I will try to make my points as clear as possible.
I have separated the areas into 3 parts for clarity in not only identifying
those areas but as well., trying to formulate the known facts.
AREA #1 N.W. Penninsula Dyke ( Contained thus far in an area
1000 meters by 600 meters) Dip extention to 1100 meters East of
the most Easterly intersecpt where 2.47 meters contained in average
true thickness. 433 meters drilling defined this area which was previously identified in 97. 2 Stepout holes intercepted kimberlite
at expected depth.
The geology being a gently rolling sill complex oriented relatively flat
with dip of approx of 12 to 15 degrees.
AREA #2 186 Anamoly. Approx 3500 to 4000 meters East of the
N.W, Penninsual dyke.
AREA #3 S.E. Boulder train located on the S.E. shore of Snap Lake
AREA #4 22 Drill holes with up to 5Meters of kimberlite true thickness. Location somewhere IMO between Area #3 and 186.
Here are my interpretations of events thus far and how each may be
related or dissimilar.
First on a general note., I view the wide indicator train as the result of
an eroded source eminating from the lake. I treat the boulder area
on the N.W,. Penninsula and the 186 Anamoly as both geochemically
similiar as to kimberlite and emplacement. No vented source., however very rich in large stones and high gem quality.
If one were to shoot a line from the origniation point of the sill complex., which i choose to call a sill because of its orientation of a gently slopping deposit nearly horizontal but pitched 12 or 15 degrees.
to 186 anamoly which would be in the neighborhood of 3500 meters
to 4000 meters., one can easily see the connection., as well the geochemical findings as well indicate both kimberlite locations are
the same. 2 Step out holes 1100 meters which the company has
reported confirmed intercepted kimberlite at the expected depth.
186 first intercepted kimberlite at the 107meter range., in view of these facts it is a fair assumption that both areas could be interconnected. At this point in time., I ascribe a 4 or 5 mil ton resource identified in the 600x by 1000 meter area of which the company has stated 433 meters delineated this area as to width and
previous drilling to length. The area is both open to the N. and S. and
to the East towards 186. So I think this view is reasonable at this time., however infill drilling must take place to delineate the extentions. At current prices it is worth IMO the speculation.
I have personally ruled out any chance that a major source exists
in this line of projection as well due to predominant ice flow patterns.,
however as you well know that regional flow patterns exist within
predominant patterns but that is a discussion within itself.
So in Area #1 I would say that the float and boulders could only have
originated in an area as well towards the center of the lake. So a major source in that area at least the center of the lake is ruled out in
my opinion. Only knowing deep drilling occurred in the center., precludes that area., however doesnt necessarily preclude the shallower drilling that occurred which averaged around 50 plus meters.
AREA #3 which contained Angular boulders., large ones in the 25KG
range are confined to an indicator train .2km in width and 2.2km in
lenght. If predominant cratonic ice patterns controlled dispersal., I
would say that the very width and length indicates the boulders are
close to the source. However., as well., my opinion is that it doesnt
necessarily have to be within Snap Lake as well areas to the direct
east and North could be possibilities.
I think several factors downplay the predominant ice flow patterns.,
and glacial movements on a targeted area can move in several directions. To date I see no evidence of drilling to the East or North
of this compact train. As well I doubt that the 22 hole drill intercept
which I surmise occurred from Area #3 to 186 would not have targeted this area as well.
So I agree that the Area #3 boulder train may be sourced in an area
which previously has not been drilled.
What is abundantly clear is that there are no easy answers to the puzzle.
My personal view., is that the small breeciated bodies may have individual venting as Walt has stated cosmic farts., but I think the
area from the boulder train on the S.E. shore to 186 may be have been the area encompassing the 22 drill holes.
I leave an open mind when it comes to value., I like the gem quality
references., I like the colored stones., and I like the size., as well
as the reference to 3 large gem quality stones.
At current prices I view it as potential leverage upside with little downside risk., in view of longer potential that being 5mil in cash
and a relatively unscathed pure play on the Tyler property. My
last conversation with Winspear stated Geophysic is occuring on the
Tyler property., the Hilltop., and Camsell Lake property as well will
be focused.
I can somewhat agree with the general statement that the dykes
are explosive diatreme in the fact that breeciated bodies were intercepted., however it does not necessarily preclude the theory of
multiple kimberlite emplacement occuring within the same geologic
domain at different geologic time frames. I subscribe to the theory
that emplacement took place over 2 different time frames., first
the event that triggered the Wide Main indicator train., which in all
liklihood is an eroded source. The second event erupted small breeciated bodies., and the third event which precipitated a less volatile kimberlite evidenced by the sill complex on the N.W. Penninsula dyke. Some of these points were noted in previous releases. The emplacement period may only span a few million years.,
but occurred within the 60 to 70 million tertiary emplacement period.
I think it is as well presumptious to assume that a main source does
not exist or that it is restricted to near surface exposures.
So Eric the puzzle is complex., and I make no execuses., nor do I
blame anyone that holds your current view. I agree., I think early in
the Winspear program., the ease at which they thought success was
imminent is reflected in their lack of deep drilling from the outset.
If the source would be a narrow fissure explosive diatreme, it could
indicate fissure like characteristics as to depth and width., being a
relatively distinct geologic model (breeciated bodies within a multiple
emplacement envrioment.}
As well Eric., I think it is easy for people to view Winspears success
or failure on whether prelininary work was done before drilling., and
think as well., that given the apparent abundance of diamonds., indicator trains., diamonds in the til., I think even you may be inclined
to proceed without all the groundwork completed. It would be tempting .
I commend you for telling your subscribers that a main source would
not be found and credit is given. For the sake of the newsletter writers society if their is one., more damage has occurred
by the hypola generated by the Kaisers., Bishops., and the Caanacords to generate the high expectations of which most subscribers have not benefited other than short term buys and sells.,
I dont sell newsletters., I dont reap commercial gains by participating
in cheap private placements., my gain is the satisfaction that people
can deductively debunk the hype and look at the facts.
My first purchases of Winspear occurred in Septemember of 96., before the Bishops., before the Khanna., the Caanacords., before
the Haineys., before the David James., and the countless other
hoards descended. I make no apologies for my views., and still believe one will see ultimate value based on the frequency of large
gem quality stones which is evident., and sufficient tonnage.
As well., the next 2 or 3 weeks should tell the tale., but my hope
rests on weighing the complex facts., of which 21 diamond were recovered over 1.0 carat and the implications of the 3 largest being
gem quality.
As far as walking away from the company., I think it is a little late for
that conclusion., Bishop proposed that exit in the same breath he
promoted Platinova which was dyketical boondoggel to say the least
perptrated initially on less than stellar early counts and early cheap
private placements into the Greenland players.
The counts are there., the size., and the gem quality references., I
sink or swim on tonnage.
Sincerly
George J. Tromp |
