Initial processing of the discovery hole from Pipe 441 at the Verkhotina project in northwestern Russia is returning diamonds for Archangel Diamond (VSE).
The hole intersected kimberlite from a depth of 67-105 metres before being shut down due to down-hole problems. The initial processing of a 10.03-kg kimberlite sample, taken from an interval of crater facies between 73.5 to 80 metres, yielded 8 macrodiamonds and 34 micros.
One of the macros measures greater than 1 mm in size in at least one dimension. Results are pending for the remaining 60 kg of core.
Archangel holds a 40% interest in the joint venture and is responsible for funding the project through to feasibility.
The state entity Arkhangelskgeologia holds a half interest, with a private firm holding the remaining 10%.
The Verkhotina project encompasses 400 sq. km and hosts seven known diamondiferous pipes and roughly 90 untested anomalies.
In a related matter, Archangel is not proceeding with the proposed acquisition of Australian-based Ellendale Resources.
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