Vancouver — Shear Minerals (SRM-V) and partners Northern Empire Minerals (NEM-V) and BHP Billiton (BHP-N) have discovered two additional kimberlite pipes, Tuvaaq-2 and Tuktu-1 on the Churchill diamond project, located near the community of Rankin Inlet, Nunavut.
The total number of kimberlite pipes discovered on the project to date now tallies to nine. According to Shear, the new pipes expand the discovery area to 30 km east-west by 15 km north-south. The Tuvaaq-2 and Tuktu-1 pipes were found 10 and 30 km northeast of the Kalluk kimberlites, respectively.
The current drilling campaign is designed to test targets located outside the expanded discovery area. The eighth kimberlite, Tuvaaq-2 situated close to the Tuvaaq-1 pipe which was discovered a few weeks ago.
Tuvaaq-2 is characterized by a circular magnetic high anomaly about 150m in diameter. Of the two holes drilled into the pipe, the first, CD-011, was drilled to a depth of 42 metres and cut 23 metres of kimberlite. The second hole, CD-012, was drilled at a 45 degree angle and cut 52 metres of kimberlite. This hole was terminated in kimberlite at a depth of 68 metres.
The ninth kimberlite, Tuktu-1, represents a two lobed magnetic low anomaly that measures 150 by 200 metres. Hole CD-013 intersected kimberlite after 13 metres of overburden and remains in kimberlite.
Ground geophysical surveys have so far identified 11 additional priority drill targets. At one of these targets, kimberlite float was discovered and sampled.
In addition, an airborne magnetic geophysical survey is underway to cover project areas that have not been previously flown. New anomalies will be followed up with a combination of prospecting, heavy mineral sampling and ground geophysics during the 2003 field season.
Shear has a 51% interest and is operator on the Churchill project. Northern Empire and BHP Billiton have 35% and 14% interests respectively.
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