In the James Bay lowlands of Ontario, a $500,000 program of diamond drilling has begun on ground held by KWG Resources (TSE) and Spider Resources (ASE).
While searching for diamonds in the area, the partners discovered a shallow conductor at least 800 metres long. Follow-up ground geophysical surveying (magnetics and multi-frequency electromagnetics) has been completed, and a drill has been moved to the site.
Earlier drilling, completed over the past two years on selected kimberlite targets, identified a new volcanogenic belt beneath the thin Paleozoic sediments of the area. Two holes intersected intermediate to mafic volcanics containing disseminated chalcopyrite.
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