List of players joining rush for diamonds growing daily

A handful of new players joined the hunt for diamonds in both the Northwest Territories and northern Ontario during the first week of June as experts retained by BHP-Utah Mines and Dia Met Minerals (VSE) continue to evaluate diamonds recovered from a kimberlite pipe near Lac de Gras, N.W.T.

South of Lac de Gras, Geomaque Explorations (CDN) staked five properties or a total of 27,000 acres. The company says the ground covers 11 Euler anomalies that mirror the magnetic anomaly over the diamond discovery. Geomaque owns a 14% interest in the new properties, while Stall Lake Mines (VSE) owns 28%. The remaining interest is held by two private investors. To the northwest, Aaron Oil (ASE) staked 100,000 acres. Aaron also owns, and plans to drill, its holdings in the Fort a la Corne diamond camp in Saskatchewan.

Tyler Resources (TSE) acquired a second property southeast of the discovery. Purchased for $150,000 cash and 200,000 shares, the Crystal property consists of 106,000 acres. Jens Hansen, an experienced diamond geophysicist from South Africa, will be directing Tyler’s summer exploration program. Greater Lenora Resources (TSE), which recently reported plans to explore for diamonds in northern Ontario, also acquired the right to earn interest in ground 50 miles west of Lac de Gras. To earn a 60% interest in the 7,750-acre property from Winspear Resources (VSE), Lenora must make cash payments totalling $300,000, issue 200,000 treasury shares and spend $1 million on exploration over the next five years, including $150,000 during the first year.

Near Kirkland Lake, Ont., where Sudbury Contact Mines (TSE) recently confirmed the discovery of 14 microdiamonds, Kingswood Explorations (ASE) has acquired a 100% interest in a 22-claim property in Bernhardt Twp. A ground magnetic survey over five of the claims has identified three magnetic anomalies that could represent kimberlite pipes, the company says. After a review of geophysical data from its Garrison Twp. gold property, Garrison International (CDN) says it has also identified key targets for diamond exploration.

Although Jonpol Explorations (TSE) and Goldhunter Explorations (ASE) did not release location specifics, the partners say they have optioned several prospects near Kirkland Lake which will be evaluated for occurrences of kimberlite structures.