Kennecott finds third kimberlite in Alberta

Kennecott Canada Exploration has intersected a third kimberlite body on the Legion property in northeastern Alberta while drill-testing the Dragon target.

Kimberlite material was intersected at a depth of 135.9 metres. The hole was shut down at a depth of 193.2 metres while still in kimberlite. Mudstone is reported to be intercalated within the kimberlite.

Kennecott, a division of London-based Rio Tinto (RTP-N), can earn a 60% interest in the 1.5-million-acre property from owners Montello Resources (MEO-A) and Redwood Resources (RDW-A) by either advancing it to a production decision or spending $30 million on exploration over seven years. Ownership is currently split 70-30 between Montello and Redwood.

The partners are encouraged by the discovery of the Dragon kimberlite because it represents a subtle magnetic low anomaly, whereas the first two kimberlite discoveries were made from magnetic high anomalies. The Dragon anomaly has a magnetic signature measuring 300 by 350 metres.

Preliminary palynology (pollen) age-dating of mudstones extracted from the Phoenix kimberlite discovery indicates Upper Cretaceous ages, and the maximum age for the kimberlite is estimated at 82 million years.

Microdiamond results from Phoenix are expected in about three weeks. In the meantime, preliminary heavy mineral analysis of a small (15-kg) sample has shown abundant olivine and ilmenite along with chromite. However, no garnets or clinopyroxenes were reported.

At last report, Kennecott was drilling the fourth target, Wyvern, a magnetic high measuring 1,000 by 150 metres.

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