THE DIAMOND PAGE — Caldera targets Edward Creek

An aeromagnetic and radiometric survey by Caldera Resources (CDR-M) has outlined 22 possible kimberlite structures at the Edward Creek property in the Lake Eyre region of South Australia.

Caldera, which is earning a 70% interest from Australian-listed Reedy Lagoon, identified the structures using magnetic gradient and total-field surveys. Only five of the structures have been subjected to previous field checking, and these were checked using shallow drill holes that probably only penetrated the weathered zone.

The largest feature, known as the Gauntlet anomaly, is a circular structure measuring 1 km wide. Chromites found in overburden 3 km south of the anomaly appear to have travelled from the area of the anomaly, and chemical analysis indicates they were formed at a pressure and temperature at which diamonds would also be chemically stable.

Caldera plans to carry out field checking of the anomalies, to be followed by drilling.