If the bulk sample is going where I think it is going for processing we might not have too wait long for a carats per tonne number. Having three independant evaluators put a price per carat will take some time but not a great deal. Meanwhile we will have a clearer idea of tonnage defined by the drill.
The private placement shares are not likely going to be sold at market for $3.00 when $30.00, $60.00 or $X60.00 is just around the corner.
I believe the prospects at Snap Lake are excellent at this point in time. However, Snap Lake is by no means the only card in Winspear's hand. Exploration programs are underway on the Hilltop and Cache properties with some targets identified. And then there is the Carat property at Lac de Gras with twenty five potential targets identified last summer. We haven't heard much about this one lately. Did you say that WSP was bringing in another drill?
Southernera/Kennacott just nailed another pipe at Lac de Gras and much of the previous work done in the area is being re-evaluated. It seems that the goodies do not neccessarily show up well on the airborne MAG and EM surveys.
IMHO the show has only just begun.
August 31st,98 Carat Property
To date a total of 4,200 line kilometres of detailed airborne Mag and EM
have been conducted over the Carat Property. In addition, a total of 395 till
samples have been collected and are currently being processed. Approximately
25 potential targets have been outlined from the preliminary geophysical
survey, with more detailed geophysical and geochemical surveys to be
conducted.
Depending on the evaluation of data obtained from this work, a drill
program may be carried out on the property this coming winter.
Dec 21st, 1998 Tyler NR
Tyler is confident that significant exploration programs will be undertaken on its three Lac de Gras projects in 1999. Winspear Resources Ltd. is currently exploring the 38,189 hectare (94,364 acres)Carat Property which it holds under option from Tyler. This program, combined with exploration programs to be funded by Aber on the Crystal and Gem properties should advance the evaluation of
these large properties in the future.
Jan 11th, 99 Hilltop and Cache property
During the course of sampling the property this season, eight indicator
mineral trains were identified. Follow-up sampling resulted in better
definition of the trains and in the discovery of numerous small kimberlite
fragments associated with some of them. Preliminary evaluation of indicator
mineral chemistry that includes pyropes, ilmenite and chromite, suggests that
a significant number of pyropes and chromites plot within compositional ranges
normally considered to be equivalent to the ''diamond stability field''.
An aggressive exploration program is being planned for this coming winter
/spring season to locate the source of the indicator minerals and kimberlite
fragments. A program budget of $1.5 million has been allocated for follow-up
geophysics and approximately 2500 metres of diamond drilling during this
winter season together with additional till sampling on the property during
the summer season. It is anticipated that the drill program will get underway
in March following completion of ground geophysics. |
