Diamond News Roundup — Micros, macros in Drybones Bay core

VSE-listed Trade Winds Resources has reported partial dia-mond processing results from three holes drilled on the Drybones Bay kimberlite pipe.

According to Lakefield Research, the core contains both micro and macrodiamonds, and complete results will be available once all the kimberlite core has been processed.

Trade Winds can acquire an 80% interest in the property, situated 30 miles southeast of Yellowknife. It expects to resume a further 300 metres of delineation drilling on the northeastern portion of the pipe, beginning in April.

Nearby, Major General Resources (VSE) owns a half interest in 17 separate claim blocks, while its partner, Avance International (VSE), holds an option to acquire the other half by spending $1 million. Airborne magnetic surveys have outlined five anomalies with kimberlite signatures; three of the anomalies are within Drybones Bay, while the other two are about 20 km away. Elsewhere in the Northwest Territories

* Partners Lytton Minerals (TSE) and New Indigo Resources (ASE) have announced results from the original discovery hole of a land-based kimberlite pipe on the JD-OD claim blocks.

A drill hole sample weighing 59.2 kg returned 69 microdiamonds and 14 macros for a total diamond count of 83. A large-diameter, reverse-circulation drill will recover a 220-330-tonne sample of the kimberlite material. Lytton and New Indigo’s jointly held land package consists of 3.6 million hectares north of Lac de Gras. A second land-based kimberlite pipe was recently identified north of the discovery pipe. Indicator mineral chemistry, along with ground and airborne geophysics, has identified drill targets. * Preliminary results from a small sample of drill core have confirmed that the 5034 pipe, near Lac de Gras, is diamondiferous.

However, Mountain Province Mining (VSE) reports that detailed results will not be released until a full analysis of the core is carried out by Saskatchewan Research Council.

The 5034 kimberlite is on the AK property, in which Mountain Province holds a half interest. Glenmore Highlands (ASE) holds 40%, and the remaining 10% is held by Camphor Ventures (VSE).

* About 40 km southwest of the AK ground is the 40,000-hectare Noront 1 property, where heavy mineral sampling was recently carried out by Pure Gold Resources (TSE) and Ashton Mining of Canada (TSE).

The program identified several indicator mineral dispersion fans, and a second phase is planned for the upcoming field season.

Pure Gold is earning a 40% interest in the property, which is currently held 75% by Noront Resources (TSE) and 25% by Rusty Lake Resources (CDN). * Saskatoon-based Shane Resources (VSE) has launched a preliminary, 1-hole program on the 382-hectare Ryan Lake property, 11 km north of Yellowknife. The target, a magnetic anomaly, lies submerged under a 100-metre-deep lake. Shane can earn a half interest by drill-testing the target and issuing 100,000 treasury shares.

Saskatchewan

* By spending $100,000 on drilling within 12 months and paying $100,000, along with 100,000 common shares, over three years, Consolidated First Northern Developments (VSE) can acquire a half interest in the Foxford-Weirdale diamond prospect of Lucky Break Gold (VSE). Situated near Fort a la Corne, the property adjoins the

Monopros-Uranerz-Cameco-Kensington joint venture.

Overseas

* South Atlantic Diamonds (VSE) has completed a ground magnetics survey in eastern Brazil. The concessions straddle the Santo Antonio River and comprise part of the Coromandel project.

The survey identified 78 magnetic anomalies within a 50-sq.-km area, and 10 of these correspond to known intrusive bodies. Drilling will follow. Exploration in 1994 identified 33 kimberlite bodies, 16 of which were sampled. Three of those were discovered to contain micros.