Morila

An option from De Beers Consolidated Mines (DBRSY-Q) is enabling Vaaldiam Resources (VRL-V) to widen its search for South African diamond deposits.

The Toronto-based junior already holds options on four properties in South Africa, one of which, Makoppa, adjoins the new one. Vaaldiam can earn a 70% interest in Makoppa from SouthernEra Resources (SUF-T).

According to the deal, a unit of Vaaldiam must spend $435,000 over four years to maintain the prospecting rights to the Zuurvervdiend property. Subject to certain conditions, De Beers can back in for as much as 55% by reimbursing Vaaldiam for 250% of its exploration costs.

In 1997, De Beers outlined a 300-metre-long kimberlite fissure that SouthernEra subsequently followed westward on to its ground for 1.8 km. Dubbed K-4, the fissure yielded 101 microdiamonds and four macrodiamonds, including a 0.04-carat stone, in limited drilling.

Vaaldiam notes that outcrop and indicator minerals suggest that the K-4 kimberlite may extend for a total of 4.5 km across both properties. On Zuurvervdiend, the kimberlite appears to be between 0.15 and 8 metres wide.

Vaaldiam also plans to follow up a 600-metre-long indicator mineral train, situated 2 km to the south, along the Zuurvervdiend property’s southern boundary. Where the projected trace crosses over to the Makoppa property, SouthernEra cut kimberlite in three short holes over widths of 4-9 metres. A single stone was recovered from overlying soils and gravels.