Dianor confirms Leadbetter diamonds (January 12, 2005)

Results from initial, independent sampling at Dianor‘s (DOR-V) new Leadbetter diamond property near Wawa, Ont., are confirming the presence of diamonds and even suggesting the presence of a very large, near-surface diamond-mineralized structure.

In mid-December, Dianor struck an option agreement to acquire an 80% interest in the 9.4-sq.-km property from local prospector Joseph Leadbetter, who found a gem-quality, 1.39-carat alluvial diamond on the property in 2003, and then discovered its bedrock source in 2004 (T.N.M., Dec. 24-30/04). To gain its interest, Dianor must spend about $13.6 million in various payments and work commitments over eight years.

Late in 2004, Dianor followed up Leadbetter’s surficial work with its own sampling of non-kimberlitic, bedrock outcrop of a single structure that extends at least 505 metres in an east-west direction.

So far, five of these samples totalling 130.4 kg have been processed at SGS Lakefield Research in Ontario, where they were concentrated and then separated using heavy liquids. Some 53 diamonds totalling 0.0553 carats were recovered from the five samples, with the two largest ones reaching 1 mm in length. Almost 90% of the recovered diamonds are inclusion-free and half are transparent.

The vendors also sank three diamond-drill holes at the property, and intersected the diamond-bearing rock units in all three holes. The best hole cut 166.5 metres of the diamond-bearing rock from surface.

Dianor will release further diamond and indicator-mineral results within the next month. Small bedrock samples are currently undergoing attrition milling at the CF Minerals laboratory in Kelowna, B.C., and caustic-fusion analysis at the Saskatchewan Research Council’s laboratory in Saskatoon.