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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: PHILLIP FLOTOW who wrote (6289)	10/5/2000 12:23:44 AM
From: VAUGHN	Read Replies (1) \| Respond to of 7235

Hello Phillip This was on Minews today: CALDERA READY TO DRILL NEW KIMBERLITE DISCOVERY WITH ITS PARTNER, SOUTHERN ERA. Caldera Resources is an Australian diamond exploration company, listed in Canada, which catches the eye for two reasons. First, the quality of its projects and second, the status of its partners. It has a joint venture with Stockdale Prospecting Limited, the Australian subsidiary of De Beers Limited, on the Gunanya Exploration Area and the Tabletop East Project, whilst the main Tabletop Project is the subject of an option agreement entered into recently. Drilling has just started on three targets spread over these three projects which are all in the Pilbara region of Western Australia. Interestingly the announcement of the drilling makes special mention of the fact that Caldera personnel will be on site throughout the operation. Chris Reindler, managing director of Caldera, is adamant that this does not imply any distrust of the Stockdale team, but it is interesting that Caldera also has the Abminga project in South Australia which has kimberlite pyroclastics similar to those at Fort a la Corne. Minews aficionados will remember the problems Kensington Resources had, and is having, with Monopros, the De Beers Canadian subsidiary , on its Fort a la Corne project in Saskatchewan. Meanwhile Caldera is also getting ready, with its other joint venture partner, Southern Era, to drill a new kimberlite pipe discovery which has been confirmed by detailed petrologic and geochemical analysis. The highly weathered pipe was encountered in reconnaissance drilling carried out in May . The next drill program will take deeper cuts of the pipe with material to be processed by Lakefield Research Ltd. To test for diamonds. The partners have used the aeromagnetic signature for the newly discovered pipe to identify further targets within a recently expanded exploration licence area now exceeding 1150 square kilometres. An in-fill aeromagnetic survey is also planned to delineate targets for drilling. In addition, significant results were obtained from another target where two micro-diamonds were found on surface, associated with abundant chrome-spinels in material having kimberlite affinities. This target was drilled in May with limited success, but it now appears that the geological interpretation may have missed the primary target. Further surface work will be carried out on this target. There seems little doubt that the company is confident that it has now found two, if not three pipes. There should, therefore, that there will be a steady trickle of good news from Caldera as the results from the drilling programmes with both joint venture partners are announced. 5 October 2000 Regards