Montreal-based junior Ditem Explorations (DIT-M) has entered into an option agreement with German-owned Uranerz Explorations and Mining on a diamond property situated in the Otish Mountains of northern Quebec, 300 km northeast of Chibougamau.
Ditem can acquire a 49% interest in any diamond production from the property by spending $1.5 million on exploration over four years. The remaining interest would be held by Uranerz, with Inco (N-T) subsidiary Canico retaining a 2% production royalty, half of which can be bought back for $2 million.
Ditem’s preliminary 6-hole drill program on the Otish property has discovered the region’s first macrodiamonds (defined here as stones having at least one dimension measuring 0.5 mm or greater). One diamond was found in hole 5 and three were found in hole 6, with the largest of the four measuring 0.96 mm across its greatest width.
The diamonds are described as being clear and white in color and octahedral or dodecahedral in form. The diamonds are from core samples totalling 96 kg drilled at depths of less than 108 metres.
In preparation for this year’s follow-up work, Ditem has staked a further 363 claims and applied for a permit covering 162 sq. km. These claims and permits total 22,000 ha and are included in the Ditem-Uranerz-Canico agreement.
Meanwhile, on Ditem’s natural-gas exploration project in the St. Lawrence lowlands, a preliminary seismic survey has been completed, with initial indications showing at least two potential gas-bearing anticlinal structures. The company had originally been drilling the property in search of zinc mineralization.
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