THE DIAMOND PAGE — Kimberlite find triggers Alberta rush

New Claymore Resources (NCS-V) has increased to 6 million acres its land position in the Buffalo Hills-Peace River area of north-central Alberta.

The area has heated up since Ashton Mining of Canada (ACA-T) and joint-venture partner Pure Gold Resources (PUG-T) discovered a kimberlite pipe-like body on ground held under an option agreement with an Alberta energy firm. The partners have since discovered 11 kimberlite bodies.

New Claymore staked some 3 million acres between Ashton’s holdings and the Mountain Lake kimberlitic stock, which was previously discovered by Monopros.

The metallic mineral exploration permits cover several sites where sampling by the Alberta Geological Survey recovered pyrope garnets.

New Claymore has optioned a block of 12 permits totalling 250,000 acres, west of Peace River, to Primero Industries (PMI-V). The latter can earn a 50% interest by spending $500,000 on exploration. A second block of 12 permits, covering 300,000 acres southwest of Peace River and adjacent to the Mountain Lake kimberlite property, was optioned to Meteor Minerals for an initial payment of $25,000 and 200,00 shares.

Meteor, which is currently unlisted, can earn a half interest from New Claymore by spending $600,000 on exploration.

New Claymore also holds 3 million acres north of Ashton’s and Pure Gold’s Buffalo Hills joint venture.

Pure Gold recently acquired a 60% interest in an additional 23 million acres in the immediate area of Buffalo Hills. Cayo Resources (CAYO-C) holds the remainder.

Pure Gold continues to acquire ground not only in the Buffalo Hills area, but in other areas of Alberta as well.

Other exploration companies with land holdings in the Buffalo Hills area include Montello Resources (MEO-A), with 4 million acres, and Troymin Resources (TYR-A), which holds close to 1.6 million acres.

Also, Big I Developments (BID-V) acquired a half interest in 46,000 acres of mineral leases in the Buffalo Hills area, near the village of Manning.

Farther south, in the Hinton-Nordegg area, Rio Nevada Mines (RN-A) applied for mineral permits for an area comprising 216,341 acres. Rio reports it has recovered 5 micro diamonds, plus 1 macro exceeding 3 mm in diameter, from a sample site on the property.

Rio holds a 75% interest in the property, which lies 30 km southeast of where Kennecott Canada has been drilling on ground held through various joint ventures with Montello, New Claymore and Troymin.