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Gold/Mining/Energy : Paramount Ventures & Finance -- Ignore unavailable to you. Want to Upgrade?

To: Diamond Daze who wrote (3515)	12/6/1999 11:59:00 PM
From: Yorikke	Read Replies (1) \| Respond to of 4884

As brother jim once said......Just drink the coolaid and shut the fk up. Everything is gonna be alright, I promise!!!. dyin with the beast is one thing, but if it means I don't got to bend over for Paulie anymore then maybe its worth it. Ladies and Gentilemen please don't panic....the smoke you see is really not a fire. The building is not ablaze....Our exterminator is just spraying a bit of deldrin to kill the vermin......

To: Diamond Daze who wrote (3515)	12/7/1999 7:17:00 AM
From: 1st.mate	Read Replies (1) \| Respond to of 4884

By KATHERINE DONATO For Northern Ontario Business A glittering discovery in Wawa may start diamond hunters searching in places they had not thought to look before. In the early 1990s prospector Mickey Clement went to the Ontario Geological Survey (OGS) with ball-bearing sized rocks that he thought to be industrial-grade diamonds which he had found in the Wawa area. Clement began his search from a 1933 news story in the Fort William Daily Times reporting diamonds in the area. Ann Wilson, district geologist with the OGS, says sometimes it pays to follow up on old geological reports because some early diamond finds may have been incorrectly dismissed as quartz. A scientific check of the rocks at the Royal Ontario Museum in Toronto proved the man?s theory right. Two exploration firms came into the area as a result of this find. All diamonds found in the area have been industrial-grade, used for drill bits and saws, not for jewellery. ?There?s gem-quality diamonds in the North West Territories (Ekati site) but not here,? Wilson says. That?s not to say there will never be gem-quality diamonds. ?We?re sort of laying the background for further discoveries,? she says. Canabrava Diamond Corp., a British Columbia-based company, followed up on the alluvial diamonds found by Clement and targeted kimberlite, a rock where diamonds are typically found. The company has culled 1,200 samples over two seasons on its 82,000-hectare claim. ?We?ve done a reconnaissance program,? says Roy Moore, president of Canabrava. ?Now we?re focusing on specific (kimberlite) targets.? Kimberlite is not commonly associated with the Wawa area, according to Wilson. Canabrava has come up with two true kimberlites and is now in the process of testing them to find out if they contain diamonds. Moore says he cannot predict if the discovery will lead to a producing mine, but with $2 million invested in the venture, he certainly hopes it will. Canabrava has also been investigating the land between Wawa and Kapuskasing and in the Chapleau area. About 40 kilometres away from the Canabrava site, Montreal-based Spider Resources-KWG Resources found diamonds. This company focused on diamonds found embedded in bedrock. ?The rock is unusual,? Wilson says. ?It?s not a true kimberlite ? kind of a cousin.? Diamonds had never been found in this type of rock in Ontario before. That gets geologists thinking ?maybe we should look in this kind of rock,? she says. Diamonds have also been found in the Kirkland Lake area and the James Bay Lowlands. ?Pretty much all of the Canadian Shield is open as far as diamond exploration? is concerned, Wilson adds. Exploration ?could?ve been going on without anyone knowing.? Prospectors keep their diamond exploration activities pretty secretive, she explains. People can make millions if they option a claim to an exploration company. The exploration work going on at the two sites may seem like an answer to a prayer for Wawa, which recently lost a major employer and nearly 200 jobs when Algoma Ore Division closed in June. Wilson is quick to point out that ?these are discoveries only, none of which are proven to be mineable at all? at this time. The diamond industry is in ?a grass roots exploration stage? in the area right now, but diamond exploration is only going to increase in Ontario, although it could be years before the area is ready to mine, if it comes to that stage, she says. The Ekati diamond mine, opened last month 300 kilometres north of Yellowknife in the Barrenlands of the North West Territories, went from the exploration stage to the mining stage in a short time, according to Wilson, who notes that BHP Diamonds, a division of Broken Hill Proprietary of Australia, was still doing exploration at the site in 1993. ?They (prospectors) found kimberlite right off (in 1989),? which is unusual, and, as a result, knew where to look for diamonds. ?Diamond exploration in the Wawa area is in its infancy compared to the North West Territories (Ekati mine),? she says. have a good day and enjoy the clown act!!!!