Hello Robert
Regarding TQY's plans for their other NWT “Corridor Of Hope” diamond property. What other property? Well, it can be seen on their web site and is located roughly midway between Diavik's Lac de Gras pipes and MPV's Kenady Lake pipes. It is just east of MacKay Lake and northwest of Back Lake and almost due north of Munn Lake.
The property is described as follows:
“In December, Tanqueray acquired a 25,825 acre claim block in the MacKay Lake area, Mackenzie District, N.W.T. The block lies well within the Corridor of Hope diamond belt, 70 kilometers south of the producing Ekati diamond mine of BHP and DiaMet Minerals Lac de Gras, and 45 kilometers south of the Diavik diamond project of Aber Resources Ltd. and Kennecott Canada. Previous owners of the claims completed airborne geophysical surveys and very limited heavy mineral geochemical surveys in 1993 and 1994.”
“In light of the significant diamond discoveries by Winspear Resources at Snap Lake, 55 kilometers to the southwest, and by Mountain Province and DeBeers on their Kenady Lake kimberlites, 80 kilometers to the southeast, the MacKay Lake claim block has a high probability of containing kimberlites. The 1999 exploration program will comprise of immediate reprocessing of the existing geophysical data, acquisition of new close spaced airborne geophysical data and a detailed heavy mineral geochemical survey. This work will be completed by mid-summer allowing for drilling of kimberlitic targets prior to year end.”
In speaking to the very charming Linda Falkenberg at TQY she indicated that we will shortly see the commencement of the 1999 exploration program which as noted above includes the low level helicopter geophysical survey of the property (approximately two weeks from now). Apparently, preliminary data should be available roughly two weeks after completion and detailed plotted plan data by mid to late June.
A geochemical sampling program is planned later in the summer which presumably will focus on sampling down ice and over any airborne geophysical targets as well as a grid sampling and processing of the fine fraction this time.
Ed Shiller, the original Pied Piper of the NWT Diamond Play is I gather, largely responsible for this property acquisition and I must admit, it is very strategically located. For those who don't know, Ed was the man who originally coined the term “Corridor Of Hope” and to date he has largely been proven correct in his theory. This is where the action has largely been and this property like the Yamba Lake play is very very well located.
Technology and exploration techniques have advanced considerably since the original property staking rush in 91/92. As SUF, Kennecott and Dia Met are proving, it is well worth revisiting these plays with the new exploration techniques, even if they were thoroughly explored previously, which this one was not.
It looks as if TQY is no longer a one trick pony in the NWT diamond game. To the good, they currently have 100% of this property and $300,000 in the bank. While I expect a partner will eventually be sought to spread the risk and cost, (perhaps SUF) if the survey shows promise, I am very encouraged by the strategic potential of this additional, albeit smaller target area.
This is going to prove to be a very interesting summer.
Regards
P.S. As a quick foot note, I just spoke to ES and he indicated that they have just flown the MacKay Lake property, so mixed messages aside, we should be hearing more on that play much sooner now. I hope to speak to Ed again next week and he indicated that there may be more info by then.
Have a good one.
|
