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

To: Diamond Daze who wrote (3682)	12/31/1999 12:47:00 PM
From: Lazarus Long	Read Replies (1) \| Respond to of 4884

Subject: Radar Screen Alert: Ontario diamond discovery? RADAR SCREEN ALERT Haywood Securities has confirmed that Monopros, owned by De Beers, may have a diamond discovery at the Victor kimberlite pipe in the James Bay lowlands of Ontario. The Company has applied for a permit (see BELOW) to construct a camp for 80 workers and a plant to process a 10,000 tonne sample. While at this time we have no information on grade and quality of diamonds, there are rumours that the pipe could run 3 carats/tonne. Numerous kimberlite pipes have been found in Ontario and none have proven to be economic. We believe that De Beers must have significant grade in order to warrant such an application. We also report rumours that the pipe is large, perhaps some 18 Ha in size. At this time, until we gather more information after the holidays, the best investment for risk accounts interested in a potential Ontario diamond play is Canabrava (CNB-CDNX). The Company owns a substantial land position in joint-venture with Kennecott in the area between Lake Superior and Hudson Bay. ______________________________________________________________________ PERMIT APPLICATION FILED WITH ONTARIO MINISTRY OF THE ENVIRONMENT Location: 90 km west of Attawapiskat, Ontario, at 52ø 48' N, 83ø 53' W Description: Monopros Limited has submitted a Closure Plan for acceptance by MNDM as required under the Mining Act. The Closure Plan proposes the rehabilitation measures to be implemented upon the closure of the company's proposed Victor Kimberlite advanced exploration project, west of Attawapiskat. The proposed work will involve obtaining a 10,000 tonnes bulk ore sample, including the processing plant, tailings site and supporting infrastructure, as well as the progressive rehabilitation to be undertaken during the operating phase of the Exploration Project. The project consists of the construction of a campsite for 80 workers, a 3.3 km extension to an existing winter road and a temporary winter airstrip. A temporary, 10 tonnes/day dense media processing plan and tailings disposal site is proposed. Other equipment to be used consists of large diameter drills and excavation equipment. Advanced Exploration is scheduled to commence on January 15, 2000, however preparatory work is expected to commence earlier, weather permitting. Upon final closure, the large diameter reverse circulation drill holes will be backfilled to surface. Trenches will be backfilled with waste rock, overburden and muskeg. The tailings, waste rock areas and yards will be contoured and revegetated. Final activities will include removal of all equipment, machinery and camp facilities from the site. Final inspection and monitoring is also proposed.