EXPLORATION 1999 – First kimberlites barren for Contiki

No diamonds have been found in the first three of 10 kimberlites drill-tested by Contiki Resources (TKI-V) on ground held in Botswana.

Contiki can earn a 60% interest in prospecting licence 139-93 from Layfield Resources (LAY-V) by spending US$4.8 million on exploration over five years and issuing 1 million shares. This licence forms the heart of the Molopo properties, in which Layfield can earn a 75% interest from Southern Africa Minerals (SAF-T).

Contiki discovered five new kimberlite bodies and further tested five known kimberlite pipes during an initial 12-hole drilling program. Samples from the remaining seven kimberlites are being analyzed for microdiamonds by Lakefield Research in Ontario.