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Gold/Mining/Energy : Diamondex: Winspear Restructured Exploration Offshoot -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (273)	2/17/2001 11:31:05 AM
From: Berry Picker	Respond to of 1283

$2.7Mil to be spent on King Property within a few months ... King, Northwest Territories The King property adjoins immediately to the north of the Snap Lake Diamond Project, recently acquired by De Beers Canada Mining Inc. from Winspear Diamonds Ltd. and Aber Diamonds Ltd. for approximately $480 million. A total of $2.7 million is budgeted for a major exploration program consisting of a seismic survey, airborne geophysics and drilling. This program is expected to commence by mid-February and is designed to test the potential down-dip extension of the Snap Lake Diamond Deposit. The 2-D reflection seismic survey is a joint venture with De Beers Canada Mining Inc. and the Department of Earth and Ocean Sciences at the University of British Columbia. Results from the survey are expected to assist in further delineation drilling in 2001 and 2002. Approximately 6,900 metres of drilling will be conducted utilizing two drill rigs during the first half of 2001. A detailed Mag-EM airborne survey, comprising 3,200 line kilometers, will also be carried out under this program The King property is comprised of 44 mineral claims covering 113,000 contiguous acres and is located approximately 220 kilometers northeast of Yellowknife, N.W.T. This property is 100% owned by Diamondex.