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

To: VAUGHN who wrote (849)	2/11/1999 6:16:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 1030

Hello Dave Here you go... Kind of sounds similar don't you think? Sounded like you were ready to drill targets two year ago... What happened to those? -------- VANCOUVER, Dec. 1 /CNW/ - Examination of the physical and geochemical characteristics of indicator minerals from GMD's Royce Group diamond claims in the NWT has suggested that multiple sources exist, the sources of many of the indicators are proximal, within the claim block, and when compared to other kimberlite occurrences in the NWT and worldwide, are likely to be diamondiferous. Thorough evaluation of major oxide ratios from ilmenites derived from the 1995 and 1996 sampling programs on the claims has indicated that a minimum of two populations of this mineral exist and are derived from as many separate source areas. This obviously does not take into account sources, which may be ilmenite deficient and are known to exist in other regions of the Territories. Preservation of perovskite mantles on ilmenite and kelyphitic rims / coatings on pyrope garnet indicate a proximal source due to the fragile nature of these features. Grains with preserved reaction rims have not been transported any great distance. This observation is supported by the angularity and size distributions of the indicators. Photographic cataloging of indicators selected by M. Morrison documents the presence of these physical features. Of the sample batches observed during this investigation, between 6% and 48% of the indicators are classified as angular and greater than .5mm with a significant number reporting to a +1mm size fraction. Additionally, sample sites within the GMD's Royce Group claims have consistently produced indicator mineral concentrations, within the anomalous area, with numbers exceeding 25 indicators per site. Previous work in the NWT and other glaciated environments has clearly shown that physical characteristics as described above occur within ten or less kilometers of the primary source kimberlite. In evaluating this favorable mineral chemistry, two separate groupings of multiple sample sites in the heart of the block have produced garnet, clinopyroxene and ilmenite with mineral chemistry indicative of diamond stability and preservation. These groupings of sample sites lie + 25km within the claim boundary, in a down - ice transport direction. A strong possibility of discovery within the bounds of the Royce Group Claims exists. 1997 sampling totaled 1085 additional till samples to complement existing data and provide in-fill information. Results for all 1996 samples have been received and incorporated into the exploration database and were used in this interpretation. Results for only the first of the 1997 samples have been received. We project to have all sampling results for the '97 season in hand in early 1998. These data are being integrated, as they become available and are being used to continually refine the existing interpretation and target selection. Airborne magnetic anomalies from the 1995 flight block covering the Royce Group claims is being reviewed and priority airmag targets are being selected for additional ground follow-up. To date, seventeen individual responses have been selected and are being detailed with low-level helicopter coverage using 50 meter spaced lines. These targets have been selected for their individual magnetic signatures, their proximity to anomalous sample sites, their locations relative to ice flow transport and their proximity to major structural features. The flying of additional targets will be incorporated after a prioritization of all geophysical targets has been completed. It is anticipated that a winter camp will be established on the property during the first quarter 1998 and the first round of 1998 drilling will then be initiated. GMD is targeting 20 geophysical anomalies for spring drilling; followed by a summer and fall drilling campaign also. Further detailed sampling is projected for the summer months to further refine subtle indicator mineral anomalies and thoroughly test the property for additional sources that do not exhibit strong or typical kimberlite geophysical signatures. The management and design of the exploration program for GMD's Royce Group has been contracted to a group of professionals with NWT experience who have been involved as team members on successful projects in that province as well as on other diamond exploration programs. The projected budget for this 1998 program is $8.7 million. GMD Resource Corp. Per: ''Michael J. Senn'' ------------------- Michael J. Senn, P.Geol. Royce Group - Project Manager -30- For further information: GMD Resource Corp., 1-800-808-3350 Regards