PROGRESS REPORT ON MARUM/MICREX DIAMOND JOINT VENTURE
September 17, 1998 -- Marum Resources Inc., operator of the
Marum/Micrex diamond exploration joint venture, today issued
a six-month progress report to Micrex Development Corp,
summarized as follows:
The Joint Venture
The Micrex/Marum Chinchaga joint venture area consists of
eleven townships, approximately 250,000 acres, overlying the
Chinchaga craton in northwestern Alberta. To date, most of the
exploration has been restricted to the portion of the joint
venture property on the east side of the Chinchaga River.
Overburden Determination
Field work indicates that overburden cover is thin throughout
the project area. This is an important consideration in
northern Alberta. Outcrops consist of Upper Cretaceous
sedimentary rocks of the same age as the surface rocks that
occur on the Ashton/AEC property. Overburden, consisting of
glacial till, soil and vegetation mat, is generally less than
three metres thick.
Drill Core Geochemistry
Drilling on adjacent and nearby exploration permits indicates
the presence of volcanic layers of probable kimberlitic origin.
This determination was made on the basis of recovered indicator
minerals that include certain minerals that are only formed in
ascending kimberlite magmas.
Aeromagnetics
High-resolution 200m line spacing aeromagnetics have been
flown over approximately 10% of the Marum/Micrex project area.
The de-cultured magnetics indicate the existence of 22 discrete
anomalies. Particular care was taken to ensure that these
anomalies reflect near surface geological features and not the
natural gas production infrastructure that makes the area so
easily accessible.
Geological Mapping and Geochemical Sampling
Samples of basal tills and thoroughly weathered rock below basal
tills contain abundant black shards and "twists" of locally
derived black volcanic melt glass which contain high
concentrations of iron, magnesium, chrome and, in some cases,
nickel hotspots. Geochemistry and electron microscopy suggests
that these grains are condensation products from mafic to
ultramafic, possibly kimberlitic, volcanoes. The samples
also contain other diagnostic kimberlite indicator minerals such
as complex, multi-phase ilmenite grains with magmatic reaction
rims of perovskite, multiple populations of corundum, and
inclusion-rich spinels. As well, some medium- to high-chrome,
low-calcium pyrope garnets with good crystal forms and etched
surfaces have been identified in the area. Overall, the
geochemical program has been an outstanding success and has
validated the area as being highly prospective for diamond
exploration.
Permit Status
The land base is in excellent condition, with 18 months
remaining in the current assessment work cycle. The targeting
methods currently in use effectively discriminate areas with
pipe potential versus areas with little or no potential. We do
not anticipate any problem whatsoever in maintaining the
integrity of the joint venture property until the end of the
second assessment work cycle in mid-2002, and beyond.
Planned Exploration
Additional sampling operations will be conducted near selected
anomalies before the onset of the winter drilling season.
Drilling on prioritized anomalies will proceed as dictated by
technical results. Drilling costs are expected to be low due
to easy access, thin overburden and the proximity of the
anomalies to existing commercial open camp facilities. In some
areas, the overburden will be so thin that a mechanized backhoe
may be used to prioritize anomalies.
Marum Resources Inc.
Joint Venture Operator
|
