Darby disappoints

New kimberlites discovered by Indicator Minerals (IME-V, IMEEF-O) in the Pelly Bay area of Nunavut show few microdiamonds.

During the summer, Indicator intersected kimberlite at each of the five geophysical targets tested during a first pass of exploration drilling at the Darby project. Caustic fusion analysis has now been completed on each of the discoveries. Core samples of 56.1 kg, 54.7 kg and 187.7 kg from the Prince, Skyy and Inferno kimberlites, respectively, returned no microdiamonds. A 146.5 kg-sample of the Stealth kimberlite held only a single stone, and Iceberg, considered the prime target by Indicator, yielded a previously reported 24 microdiamonds from 426 kg of sample; the three largest stones no bigger than a 0.6-mm sieve size classification.

The Darby project covers more than 1,600 sq. km of mineral claims and prospecting permits, centred 120 km southeast of the coastal community of Kugaaruk (Pelly Bay). Indicator Minerals holds an 80% interest in the project, with privately held Hunter Exploration Group, holding the rest and carried through to completion of a bankable feasibility. The project is under option to Teck Cominco (TCK.B-T, TCK-N), which can earn a 51% controlling interest in the project from Indicator by spending $14 million on exploration over four years.

Additional samples taken from widespread occurrences of kimberlite float discovered during the summer at Darby are being analyzed for microdiamonds, with results expected early in the new year.