Initial processing of the first sample from the 5009A kimberlite at the Afridi Lake property in the Northwest Territories has confirmed the pipe is diamondiferous.
Cypango Ventures (VSE) will release results once the balance of the core is processed. Three holes intersected the land-based 5009A kimberlite, which is now known as the DNA-1 pipe.
Delineation drilling will resume on both the DA-1 pipe and the nearby DA-2 pipe (formerly known as 9005B) with the objective of extracting a 500-kg sample. Both pipes comprise part of a cluster of four targets, which were defined by geophysics and indicator minerals. The remaining two targets, DA-3 and DA-4, are to be drill-tested.
At least five additional high-priority targets lie on the DA claims surrounding Afridi Lake and extending to Aylmer Lake.
Cypango can earn a 51% interest in the 129,952-acre property from Intertech Minerals (VSE) by paying all exploration costs leading up to, and including, a 100-tonne bulk sample. Intertech is increasing its interest to 90%, with the right to purchase the remaining 10% for $5 million.
Over the past few months, Cypango has been accumulating a land position in the Northwest Territories. The company can acquire a controlling interest in 1.8 million acres of land in the North Mining district.
Drilling is in progress on the C.J. claim group in the Lac de Charloit region. Cypango can earn a 51% interest in the 101,492-acre package from partners ITL Capital (VSE) and Riley Resources (VSE) by spending $4 million over four years.
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