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Gold/Mining/Energy : NWT Diamond Stocks for 1999 -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (38)	2/15/1999 7:02:00 AM
From: Andrew	Read Replies (1) \| Respond to of 62

Island-Arc Resources Corporation - Island-Arc receives Back Lake diamond exploration report Island-Arc Resources Corporation IAR Shares issued 11,929,971 1999-02-12 close $0.35 Monday Feb 15 1999 Also Kalahari Resources Inc (KLA) Also SouthernEra Resources Limited (SUF) Mr. Lawrence Barr reports Howard Bird, manager of the Back Lake diamond exploration project for SouthernEra Resources Ltd., operator of the project, made the following report on Friday, Feb. 12, 1999, to its partners in the project, Island-Arc Resources Corp. and Kalahari Resources Ltd.: As scheduled, the sonic drilling program on the Back Lake project, Northwest Territories will commence on Feb. 24, 1999. To date the primary focus of the Back Lake exploration program has been to locate the primary kimberlite pipe sources to the extensive Yuryi kimberlite ice-rafted float material that occurs within the shoreline area of Munn Lake and two kimberlitic heavy mineral indicator trains that have been traced to the shoreline of Margaret Lake. The primary kimberlite source to the Yuryi kimberlite float material and the two kimberlitic heavy mineral indicator trains are believed to occur in Munn and Margaret lakes, respectively. The object of the sonic drilling program is to recover glacial till material from the bottom of Munn and Margaret lakes and process the tills at the Munn Lake campsite to recover kimberlitic heavy mineral indicators. The purpose of the sonic drilling program is to trace the Yuryi kimberlite float material and the two Margaret Lake heavy mineral indicator trains from the shoreline, in an up-ice direction, until an up-ice cutoff to the kimberlitic indicators are defined within the two lakes. The sonic drilling program will define and narrow down the kimberlite pipe search area. This will be followed by ground geophysics over the defined area and all geophysical targets with signatures representative of kimberlite pipe intrusions will be diamond drilled. The Back Lake project remains a high priority to SouthernEra Resources because the Yuryi kimberlite float material has returned 226 diamonds, including 62 macrodiamonds, from 581 kilograms of processed kimberlite (a macrodiamond has one dimension greater than 05 millimetres). One 0.12 carat diamond was also recovered from the sample. The Yuryi kimberlite hosts spectacular pyrope garnet chemistry with over 40 per cent of the pyropes occurring within the G10 field. The two Margaret Lake heavy mineral kimberlitic indicator trains contain high interest pyrope, garnet and chromite chemistry suggesting that the diamond potential of the host kimberlite should be good. SouthernEra Resources looks forward to the sonic drilling program which should last between three to four weeks. Island-Arc Resources and Kalahari Resources are carried in the project for 10.62 per cent and 18.38 per cent interests, respectively. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)