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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (521)	1/24/2003 8:47:39 PM
From: Famularo	Respond to of 16206

Quebec is still a low profile project but here is a summary why we must watch this play very closely. From the eight confirmed pipes, if we ONLY include renard 2,3,4,5 what we end up with is a cluster of four kimberlites in close proximity to each other within a 2 x 2 km area representing about 10 million tonnes to a depth of 200 metres, with at least half that tonnage grading 1 ct/t or higher. This may only be the beginning and a very conservative estimate. Within this same tiny area Ashton has several unresolved indicator mineral trains and geophysical anomalies it intends to drill within weeks. Tere is plenty of room for several more 2-5 million tonne pipes with high grade potential. A target resource of 10-20 million tonnes is awesome if grade and value turn out to be high. So far we can see evidence of high grades. We will have to wait for larger bulk samples to find out how value behaves. Five years ago Ashton was pursuing large tonnage low to medium grade kimberlites in Buffalo Hills and in Otish it is pursuing small tonnage high grade kimberlites. But before anybody assumes that this play is limited to small high grade pipes, keep in mind that outside the Renard cluster any combination of grade and size remains possible. Ashton plans to drill outside Renard in Feb. Yes, you may think I sleep with Ashton, but do like the play. In the past years, played Diamet, Aber, Wsp, Suf, still owna little of Aber and Suf, but sold way too early... This time around, hoping for Ashton to bring either Quebec, Alberta, or Nunavut ahead. within the next 4-5 years............ frank