DIAMOND PAGE — Aber elects not to participate in program at Snap Lake

A decision by Aber Resources (ABZ-T) not to participate in the 1998 field program on the Haywood diamond project at the Camsell Lake property means Winspear Resources (WSP-V) is going it alone and will fund the entire proposed $2.7-million exploration budget.

Situated approximately 220 km northeast of Yellowknife, N.W.T., the Haywood project covers approximately 112,242 ha of the Camsell Lake property, and includes both the Snap Lake and CL 25 areas, where diamond-bearing kimberlite has been found to date. The project is currently held 57.3% by Winspear, the operator, and 42.7% by Aber. Upon completing the planned 1998 expenditures, Winspear’s interest in the Haywood block will increase to 68.5%.

Geophysical surveys are well under way on the property in preparation of the start of a 7,300-metre drilling program, which is expected to begin shortly in the Snap Lake area.

Over the course of the past two years, drilling in the Snap Lake area has uncovered in situ kimberlite in three different locations within an area of roughly 3 km by 1.5 km. A total of 13 kimberlite dyke intersections ranging up to 3.5 metres in thickness were encountered over an 800-by-600-metre area of the northwest peninsula.

A total of 149 macrodiamonds and 252 micros were recovered from a 137.4-kg sample. (A macro is defined here as measuring more than 0.5 mm in at least one dimension.) Twenty-five of the macros exceeded 1 mm in at least one dimension, with the largest stone measuring 1.79 mm.

A subsequent review of theses intersections suggests to Winspear that eleven of them represent a single, gently-dipping, northerly-striking kimberlite dyke with a true thickness averaging 2.5 metres.

Four narrow intersections of kimberlite dyke material were drilled in the southeastern portion of Snap Lake. A 11.8-kg sample of this material yielded 3 macros and 11 micros.

Near the northeast shore of Snap Lake, two holes drilled 55 metres apart intersected 100-metre intervals of blind complex kimberlite breccia at the CL 186 site. An aggregate 153.6-kg sample returned 42 macros and 83 micros.

In addition, a new train of kimberlite breccia boulders was found last fall on the southwest shore of Snap Lake. A total of 169 macros and 325 micros were recovered from a 259-kg sample, including 18 stones greater than 1 mm in size, 4 stones greater than 2 mm and 3 diamonds in excess of 3 mm.

Approximately 4,800 metres of drilling will be carried out in the Snap Lake area to test a variety of targets. Also a 100- to 200-tonne mini-bulk sample will be collected from the kimberlite dyke in the northwest peninsula area, with the aim of obtaining a preliminary indication of value per tonne.

An additional 1,000 metres of drilling is planned for the CL 25 area, where recent till sampling and geophysics have identified seven priority targets.

Immediately west of, and contiguous with the Haywood block, is the 28,732-ha Athenia project. Aber has elected to fund its 45% share of the planned $475,000 program for this project, in which 1,500 metres of drilling will test 10 geophysical targets. Winspear holds the remaining 55% in the project.