DIAMPND PAGE — Monopros pulls kimberlite in N.W.T.

Monopros, the exploration arm of De Beers Consolidated Mines (DBRS-Q), has intersected kimberlite while drill-Testing a lake-based geophysical target in the southern portion of the AK property in the Northwest Territories.

The new discovery is 1.8 km northwest of the 5034 kimberlite pipe. The drill hole, which was collared at an angle of minus 50, intersected 51.5 metres of kimberlite before shutting down as a result of difficult ground conditions. The hole was stopped in kimberlite at a down-hole depth of 187.5 metres. Core samples have been forwarded to De Beers’ laboratories in South Africa for analysis.

The spring drilling of additional lake-based geophysical targets is continuing, with a summer program scheduled to get under way soon.

Ownership of the AK-CJ properties are held by Mountain Province Mining (MPV-V), Glenmore Highlands (GMH-A) and Camphor Ventures (CFV-V), with 50%, 40% and 10% interests, respectively.

Monopros has entered into a joint venture with the partners and can earn up to a 60% interest in the properties by funding exploration and a bulk-sampling program on one or more kimberlites, completing a feasibility study and funding the development of a mine.