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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (851)	9/12/2002 12:12:56 PM
From: rdww	Read Replies (1) \| Respond to of 930

from a kaiser tacker in dec 01 on CNB "...Since then Kennecott has gone on to option 70% of Band-Ore's property while De Beers has agreed to process a 100 tonne bulk sample from Pele Mountain's property at its own expense with no strings attached. In my view the Wawa "Archean breccia" play is a dark horse that could explode to the front of the pack if De Beers comes up with a grade in excess of 0.2 ct/t and evidence of large stone potential. De Beers, which is clearly hungry for information about this diamondiferous mystery rock, has promised Pele Mountain preliminary results (grade and weights of largest stones) by Christmas, with more detailed analysis, if there is anything to analyze, coming later next year. Pele Mountain has published sieve based micro diamond results for samples taken from a number of locations, some of which suggest a low to medium grade in the 0.2-0.5 ct/t range. Given the large volume of this outcropping mystery rock, such a grade would open speculation on the potential for a large tonnage operation yielding a high average carat value similar to what De Beers has modeled for the K141 pipe in Saskatchewan's Fort a la Corne diamond play. If the mini bulk sample confirms these or better grades, Pele Mountain, which has 100% and only 23 million fully diluted for an implied project value of $8 million at current prices, would skyrocket..." pele is doing this processing themselves - there is no JV partner and the 'grade' is above .2cpt per kaiser