Teryl sends crew to Lac de Gras

An exploration crew is on its way to the Amad diamond claims in the Northwest Territories, Teryl Resources (VSE) reports.

Teryl’s proposed program, consisting of ground magnetic, electro-magnetic surveys and drilling on eight kimberlite targets, will be supervised by Jack Marr, former regional manager of Kennecott Canada’s diamond exploration in the Territories.

Teryl is earning a half interest in the 2,530-acre claim group from Calco Resources (VSE) by spending $250,000 over three years. A 1992 program, completed before Kennecott Canada terminated an option agreement with the juniors, found indicator minerals, including two G-10 garnets and five chrome diopsides.

Meanwhile, companies drilling for kimberlites in the area remain tight-lipped about their hit/miss ratios. Lytton Minerals (TSE) — said to be meeting with considerable success on its large block north of Lac de Gras — recently arranged a private placement with First Marathon Securities of one million units at $4.50 per unit. Each unit consists of one share and half a warrant to buy an additional share at $5.

In other diamond developments across Canada:

Northwest Territories

— Jonpol Explorations (TSE) has entered into an agreement-in-principle with Aur Resources (TSE) whereby the former can earn a 40% interest in one of Aur’s diamond properties northwest of Yellowknife. It must spend $500,000 this year on land acquisition, airborne surveys, follow-up sampling and drilling.

Thunderwood Resources (TSE) and Consolidated Abitibi Resources (ME) each have the right to earn 25% in Aur’s share of the nearby McConnell project. — During the first week of June, Kalahari Resources (VSE) will airlift 20 crews on to its claims, each crew consisting of a geologist, a helper and a prospector. The massive base metal, precious metal and diamond hunt will include mapping, sampling and prospecting over the junior’s claim blocks northeast of Lac de Gras.

Through staking, Kalahari has increased to 40×60 miles its position in the Goose Lake and Hackett River areas.

— A private placement of 1.5 million units at 25 cents per unit has been revised so that the share purchase warrants carry an exercise price of 50 cents per share, Star Dance Resources (VSE) reports.

Quebec

— A group of 15 juniors has staked 250,000 acres just east and northwest of Montreal, Que. The claims straddle the St. Lawrence River and extend east from Ile Bizard, where indicator minerals were identified in the 1960s. Diamonds now stored in the National Mineral Collection in Ottawa were reportedly found at “Pain de Sucre,” a kimberlite pipe on the island. Extensive geochemical sampling of the soils and stream sediments in the most promising areas will get under way this spring. The program will be orchestrated by Peter Ferderber, a prospector based in Val d’Or, Que. Companies participating in the project include Arbor Resources (ME), Calais Resources (VSE), Cream Silver Mines (VSE), Dundee-Palliser Resources (TSE), Emperor Gold (VSE), La Fosse Platinum (TSE), Matt Berry Resources (CDN), North American Rare Metals (ME), Noront Resources (VSE), Rise Resources (VSE), Sultan Gold Mines (VSE), Tandem Resources (ME), Valerie Gold Resources (VSE), Wealth Resources (VSE) and Yanks Peak Resources (VSE). — Ressources William (ME) has staked eight properties totalling 105 claims in the Le Tac Twp. area, northeast of Lebel sur Quevillon, Que. The claims cover 13 aeromagnetic anomalies thought to represent kimberlite intrusions. — Partners Storimin Exploration (ASE) and WisCan Resources (TSE) have each acquired a half interest in 170 claims in the Le Tac area of northwestern Quebec. The claims cover at least 20 circular magnetic highs thought to represent kimberlites.

Saskatchewan

— Winslow Gold (VSE) has acquired varying interests in 14 parcels of ground totalling 115,000 acres in the Fort a la Corne, Sturgeon Lake and Carrot River areas of south-central Saskatchewan.

Winslow acquired the interests from Golden Marlin Resources (VSE) and Surf Oil (ASE) in exchange for payments of $50,000, 125,000 shares and a 10% interest in Winslow’s Heal and Tara claims in the Territories. — Silver Standard Resources (VSE), Carlin Resources (VSE) and Lansdowne Minerals (VSE) have formed the Diask syndicate to look for diamonds in the province. The syndicate has acquired airborne geophysical data covering 2,700 square miles and interesting circular magnetic features are being staked. Till sampling and ground geophysical surveys will get under way as soon as conditions permit.