Majescor busy on Quebec diamond properties

Partners Majescor Resources (MAJ-V) and BHP Billiton Diamonds have received kimberlite indicator mineral results from the latest till sampling campaign on the Portage diamond property in northern Quebec.

Preliminary analyses of the results suggest the presence of several kimberlite indicator mineral anomalies, though results from microprobe analysis are pending.

The partners plan to combine the results with those from an 8,500-line-km airborne geophysical survey completed earlier this year by BHP Billiton (BHP-N) to identify and prioritise anomalies for drilling. The two also plan a program of detailed ground geophysics for the new year. Drilling will follow-up on promising targets in the first quarter of 2002.

BHP Billiton can earn up to a 56% interest in the Portage project by funding all costs through to production.

Adjacent to the Portage property and about 85 km north of Mistassini, joint venture partners Ashton Mining of Canada (ACA-T) and Soquem recently discovered a second kimberlitic rock, which has proved to be “significantly diamondiferous”. The pipes are situated about 5km from the Portage property boundary.

Majescor’s president Jacques Letendre said his company is, “very pleased with the news from Ashton as we feel that Portage hosts separate and definitive mineral trains with similar chemistry to those of Ashton/Soquem.”

Meanwhile, at the nearby, wholly owned Wemindji project, trenching has yielded 15 kg of kimberlite fragments ranging from 0.5 to 10 cm in size. The fragments show signs of glacial transport and many contain abundant picrolimenite. The fragments were derived from one site, previously identified as hosting kimberlite fragments in glacial sediments. A second site, 1 km away, also surrendered several kimberlite fragments. The latest program also included 39 pits (1 to 3 metres deep). Results from analysis of 72 glacial sediment samples are expected in late January.

Detailed ground geophysics will resume in January on a number of the high priority targets. Drilling to test at least 10 to 15 targets is planned for February.

At the Mistassini project, Majescor and new partner Canabrava Diamond (CNB-V) have an airborne geophysical survey underway.

Under a recently signed deal, Canabrava can earn a half-interest in Mistassini by spending $1.35 million on exploration over three years, paying $25,000 and issuing 100,000 shares to Majescor. Majescor will act as operator of the project.

Encompassing 1,216 sq. km, the property stretches from the northern tip of Lake Mistassini to the western limit of the Otish Mountains. Staking of another 494 sq. km still requires the approval of the Ministry of Natural Resources Quebec.

Reconnaissance sampling by Majescor this year turned up several kimberlite indicator mineral dispersion trains on the claims. The company says that the trains have a different chemistry and assemblage, and therefore source, than those at the Portage property also in Quebec.

The current 7,370-line-km survey on 150-metre line spacings is designed to define drill targets at the head of each train. Drilling of high priority targets is slated for the first quarter of 2002.