The first drill hole Spider drilled in the Contendas structure on KWG’s Paraniaba project hit 29 metres of what Spider has interpreted to be epiclastic crater-facies sediments in a large lamproitic crater. The hole was collared just 150 metres from a pit where local miners recently found two gem-quality diamonds (weighing 0.5 and 1.85 carats).
The basal portion of the epiclastic sequence, a white sandy tuff, contains abundant ilmenite and chromite identical in composition and setting to those found in the nearby pit.
Spider is earning a half interest in the Paranaiba project of KWG by spending US$1.8 million prior to the end of 1998. About US$400,000 has been spent to date on this project by Spider, and an additional US$300,000 is allocated to year-end.
The Contendas property is on the border between Mato Grosso and Gois states.
Be the first to comment on "DIAMOND PAGE — Spider hits lamproitic rocks near diamond find St. Genevieve Group stablemates Spider Resources (SPQ-A) and KWG Resources (kwg-t) have begun drilling for diamonds in south-central Brazil."