Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : GMD RESOURCE -- Ignore unavailable to you. Want to Upgrade?

To: Richnorth who wrote (783)	9/22/1998 11:16:00 AM
From: Rich Kaiser	Read Replies (2) \| Respond to of 1030

NEWS, NEWS!!!GMD GMD Resource Corp - Exploration continues at Royce claims GMD Resource Corp GMD Shares issued 14,137,567 1998-09-21 close $0.35 Monday Sep 21 1998 Mr. Rodney Duncan reports After the corporate restructuring in July 1998, detailed work on the Royce group diamond claims in the Northwest Territories recommenced and has been continuing. The work has identified specific targets indicative of kimberlite when compared to those kimberlites that were discovered as economic and are being developed in the Lac de Gras region by the BHP-Diamet and Kennecott/RTZ-Aber Resources joint ventures. A review of data accumulated from exploration on the Royce group claims since 1995 has been undertaken. Further exploration activity will build on this database. As part of the rebuilding process, the company contracted the assistance of a team with proven technical expertise in the Northwest Territories diamond exploration and discovery to direct the program to determine the economic potential of the claims. Using glacial transport directions over the property developed from field studies combined with 1995 through 1997 glacial till sampling for kimberlite indicator minerals (total 2,339 samples), individual trains of these indicators have been defined and appear to source at specific geophysical targets identified as a result of the 1998 Dighem airborne survey. Quantities of indicators per sample increase locally as they approach the geophysical anomalies and diminish to background when beyond the targets in an up-ice direction. Sample results also show the preservation of delicate morphologic features on individual indicator grains where derived from samples close to individual geophysical targets. In a number of instances, multiple priority geophysical targets exist at the terminus of indicator trains. A brief but detailed down-ice till sampling program is scheduled for late September to isolate specific geophysical anomalies, where a cluster of these targets exist. This program will further define the validity of as many of the selected geophysical targets as possible and assist in setting the priority of the targets for follow up drill testing. A total of 72 individual geophysical anomalies have been selected as prospective kimberlite bodies. These have been ranked according to their geophysical characteristics, proximity to indicator mineral dispersion trains, structures with potential to host intrusion and their topographic expression. Of these, 21 have been ranked as priority targets and of these 21, as many as possible will be sampled during the planned late September program. In a ranking system, these 21 targets are all classified as a B- or better. The remaining 51 anomalies are classified as C+ to C-, and are of lower priority. The geophysical anomaly selection process is continuing through a thorough flight line review of the analog profits from the Dighem survey to identify subtle targets not readily discernable on plan maps Targets were selected only from these plan maps where an illustrated coincidence of magnetic electromagnetic topography and electromagnetic/topography anomalies is present. All of the priority geophysical targets fall under lakes, some of which are well-defined topographic anomalies (circular lakes with steep sides). Geochemical microprobe data illustrate that the quality of the chemistry of indicators derived from sampling on the Royce property, is comparable to economic Lac de Gras kimberlites. Using the Gurney plot for pyrope garnet, numerous samples have produced grains of pyrope with chrome contents in the 7.8 to 10.3 oxide weight per cent and complementary calcium contents in the 1.8 to 2.8 oxide weight per cent ranges. When plotted, these translate as J-9 and J-10 (true diamond inclusion) garnets. Ilmenite grains have analyzed chemistries with high chrome, high aluminum and low iron, indicating a favourable diamond preservation environment within the kimberlite magma. GMD RESOURCES