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

To: Goose94 who wrote (62092)	9/25/2019 4:36:21 AM
From: Goose94	Read Replies (1) \| Respond to of 204421

Lithoquest Diamonds (LDI-V) will start drilling at its Kimberley North diamond project, near the northern coast of Western Australia, within a month. The company is sending a reverse circulation drill to the project, and Mr. Counts and his crew have identified 20 potential kimberlite targets on the north-central portion of the big property, although they have picked just three of them for testing. Mr. Counts, president and chief executive officer, says that the rig will be ready to go soon enough that drilling should be under way by mid-month. Lithoquest, which has one kimberlite discovery to its credit at Kimberley North, the No. 1804 body that it discovered last year but which failed to yield any diamonds. Nevertheless, Mr. Counts says that the new geophysics and surface sampling show "excellent potential" for the discovery of diamond-bearing kimberlites. He adds that his company has "rapidly developed compelling targets" in an area where indicator minerals and diamonds have been recovered. Further, he expects new areas of interest will emerge, as the rest of the results from the earlier work are received. Mr. Counts cheers Lithoquest's No. 1805 target, which is just two kilometres west of 1804, and which has inched ahead of the two others into top spot. He says that the 1805 anomaly is defined by a 1,400-metre-long anomaly identified in magnetic and gravity surveys, with the feature widening appreciably along its easternmost 300 metres. Adding to his enthusiasm is the fact that the surface sampling produced three diamonds among the indicators recovered. While Mr. Counts listed No. 1805 first, he is still plenty pleased with the appearance of the No. 1826 target, which received top billing when Lithoquest had its first look at the data recovered this year. The target is a circular magnetic anomaly that the company identified while it was scouring the area east of a promising train of indicator minerals about four kilometres northwest of 1805. The indicator counts to the east of the anomaly fell to zero, so Mr. Counts believes that the anomaly is a kimberlite pipe. While indicator minerals were plentiful, Lithoquest did not recover any diamonds in its surface sampling, although that does not preclude the target being a rich pipe. In fact, diamond explorers test for diamond inclusion indicator minerals, not diamonds, during their surface sampling because of the rarity of diamonds beyond their host rock. (Nevertheless, all diamond promoters eagerly point to the recovery of diamonds in their surface sampling programs, meaningful or not.) The third target to be drilled next month, No. 1827, is several kilometres east of No. 1826 and northeast of No. 1805, at the eastern end of the cluster of identified targets. Mr. Counts says little about any geophysical attraction to the target, but he does gush enthusiasm about surface sampling, which yielded another diamond to go with four previous finds in the immediate area. He says that the abundance and abrupt cut-off in the counts suggest a local kimberlite source. Will Purcell