DIAMOND NEWS ROUNDUP — Kennecott, Aber recover more diamonds from Diavik

Caustic fusion analysis performed at the Diavik project in the Lac de Gras region of the Northwest Territories has yielded 143 macrodiamonds and 288 micros. The process was applied to 310.4 kg of core from A418-3, which is the third hole to have tested the A-418 kimberlite pipe.

Of the macros recovered, 30 measured greater than 1 mm in one dimension, with the largest stone weighing 0.8 carats.

The project is held 60% by Kennecott Canada and 40% by Aber Resources (TSE). The A-418 pipe, which lies just offshore, is the focus of land-based delineation drilling. Six holes have been drilled and the seventh is in progress, and two more will be drilled before freeze-up.

Previously, 235 macros and 487 micros were recovered following caustic fusion analysis performed on 397.8 kg of core from hole A418-1. And Kennecott’s recovery plant in Yellowknife, N.W.T., was used to process 707 kg of kimberlite material from hole A418-2, yielding 29 diamonds (which did not pass through a 1-by-3-mm screen) for a total weight of 2.56 carats. A preliminary grade is calculated at 3.6 carats per tonne.

The A-418 pipe lies 700 metres southwest of the A-154 South, where, underground, a 1-km-long decline has thus far been advanced more than 476 metres.

The decline is being driven to a depth of 155 metres so that a bulk sample of 3,000 tonnes can be taken from A-154 South. The program is aimed at providing at least 10,000 carats for a definite analysis of diamond value.

Mini bulk sampling on the A-154 South pipe recovered 255.6 carats from 56.5 tonnes of kimberlite for a grade of 4.5 carats per tonne. The diamonds were initially valued by CRA Diamonds at an average of US$56.70 per carat.

Six independent valuations have since been carried out on the 255.6-carat package. Aber reports that, after disregarding the highest and lowest valuations, the average value per carat is US$58.17, for an overall value of US$262 per tonne.

Elsewhere in the Northwest Territories

A drill program is testing targets defined by geophysics and geochemistry on the Camsell Lake project, 140 miles northeast of Yellowknife.

Project operator Winspear Resources (VSE) has a 30% interest and is negotiating to gain an additional 40% stake, currently held by Aber Resources (TSE). The remainder is held by AfriOre (VSE), with 20%, and Consolidated Newgate Resources (VSE), with 10%.

United States

Vancouver-based Pathfinder Resources (VSE) can acquire Crystal Exploration, a Colorado-based diamond explorer and wholly owned subsidiary of Australian parent Crystal Mining. The purchase price is US$205,000.

Crystal holds a 32.89% interest in the Lake Superior joint venture, which is exploring for diamonds in Michigan, Wisconsin and Illinois. Ashton Mining of Canada (TSE) holds the other 67.11% interest, while Dow Chemical has a 2.4% net profits interest.

A US$290,000 exploration program in October will entail drill-testing 11 geophysical targets.

Africa

Results from bulk sampling off the coast of Namibia are lending encouragement to Namco (VSE).

Within the Hottentots Bay concession, two sea-floor features were tested. One of these is a shallow, sediment-filled depression 5 km off the coast where 47% of samples proved diamondiferous. Of those, 33% contained multiple diamonds. Of the stones found, more than 90% are of gem quality.

Namco will test several more features in all three of its sea-floor concessions prior to selecting one that most lends itself to closely spaced sampling.

Meanwhile, Namco has assessed the value of the initial samples taken from its 12b concession in South Africa. A parcel of 46.33 carats (some 47 stones) has been valued at US$300 per carat.