De Beers discovers kimberlite sills at MZ Lake (June 11, 2001)

Exploration drilling by De Beers Consolidated Mines (DBRSY-Q) has uncovered a series of near-surface, sub-parallel kimberlite sills in the MZ Lake area of the AK property in the Northwest Territories.

De Beers had been investigating the potential of the MZ Lake area after several kimberlite intervals up to 2 metres thick were encountered underneath the lake, as well as north and south of the lake, during earlier drill programs. This spring, De Beers completed a ground penetrating radar (GPR) survey over the entire length of the northern shore and detected several shallow-dipping reflectors along most of the area surveyed.

Five shallow, land-based holes were drilled vertically to depths of 50 metres along the periphery of the 4-km-long surveyed area. The holes cut narrow intervals of kimberlite ranging from 0.23 to 3.2 metres in thickness. Another hole, about 1 km north of the lake and 1 km from the most easterly drilled hole, cut a 0.57-metre-thick interval of kimberlite at a depth of 24 metres.

Based on drill results and the GPR interpretation, De Beers believes there are several sills, or sheet-like bodies, of various lengths, widths and thicknesses north of MZ Lake, and at least one sill south of the lake. More work is needed to define the sills. Some of the kimberlite intersections from the recent drilling will be analyzed for microdiamonds.

The AK-CJ properties include the Kennady Lake project and are held 51% by De Beers, 44.1% by Mountain Province Diamonds (MPV-T) and 4.9% by Camphor Ventures (CFV-V). De Beers can increase its interest to 60% by advancing the project to commercial production.