Abner to survey diamond prospect

Vancouver-based Aber Resources (TSE) is set to begin exploration on its diamond claims 200 miles northeast of Yellowknife, N.W.T., after purchasing all of the outstanding shares of West Viking Exploration, a private Ontario company.

West Viking’s 350,000-acre claim package increases Aber’s landholding in the prospective Lac de Gras area to 420,000 acres, or about 650 square miles. The claims are adjacent to the Dia Met/BHP-Utah discovery hole, which yielded 81 small diamonds — some of gem quality — from a 465-ft. core sample of kimberlite.

Aber also holds a 25% interest in another 400,000 acres of claims in the immediate area.

Aber President Gren Thomas said the company is planning a $1-million program to pinpoint kimberlite pipes on its property. A 4,000-mile airborne geophysical survey, including electromagnetics, magnetics and resistivity, will commence in March. The survey, expected to take two months to complete, will be followed by ground geophysics, till sampling, mapping and drilling. Fuel for the airborne survey and for summer follow-up work will be trucked along Echo Bay Mines’ Lupin winter road, which passes within half a mile of the diamond discovery this month.

Under the deal between Aber and West Viking, Aber has issued 3.35 million common shares and 1.68 million warrants to West Viking shareholders. Each warrant entitles the holder to buy an additional Aber share for 60 by mid-June. Aber recently traded at $1.35.

Meanwhile, Pure Gold Resources (TSE) has acquired a 75% interest in 25,000 acres attached to the northeast corner of Aber’s claim block. The property, which lies on the north shore of Tarpon Lake, will be subjected to airborne geophysics in April. Westfort Petroleums (TSE) has an identical agreement on a 25,000-acre patch next door while Commonwealth Gold (VSE) and Venturex Resources (VSE) share a strip of claims on the southern border of Aber’s main property. Aber retains a 25% interest in all three claim blocks. Repadre Capital (VSE), 49% owned by International Corona (TSE), holds a 1% net smelter royalty (NSR) on all of Aber’s interests. Chris Jennings, one of the world’s foremost diamond geologists, retains a 1.5% NSR.