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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (2186)	8/15/2013 9:26:53 PM
From: Goose94	Read Replies (1) \| Respond to of 203329

Transition Metals (XTM-V) diamond play, promotional materials tout an intriguing diamond prospect in the Lac de Gras region. The 57,000-hectare Article 41 Lands project is just 55 kilometres north of Ekati and Diavik, and near two diamondiferous kimberlites discovered in the 1990s. The property saw little exploration during the heyday of the Lac de Gras diamond hunt and none at all since the late 1990s because the ground was disputed by (not so) local Dene and Inuit groups. Transition finally got to work last year, collecting till samples over the property. Mr. MacLean says his play lies just one kilometre east of the LI-201 kimberlite that "is still being evaluated" by Anglo Swiss Resources Inc. (ASW: $0.03). (That will likely raise an eyebrow or two at Anglo Swiss: the company dropped the play two years and three CEOs ago.) The LI-201 pipe was promotable for several years thanks to drilling in the mid-1990s that yielded 59 diamonds from 281 kilograms of kimberlite. A second kimberlite, DIA-1, is just east of Transition's ground. In what seems an even greater eyebrow raiser, Transition says Lytton Minerals Ltd. got a grade of 4.5 carats per tonne from 174.1 kilograms of core in the mid-1990s. Someone may have misplaced the decimal point but either way, DIA was subsequently deemed a dud. Nevertheless, the two pipes offer encouragement for the underexplored property