More kimberlite intrusions uncovered — Aber program hits 7

An 8-hole drill program near the south shore of Lac de Gras, N.W.T., yielded seven separate kimberlite intrusions for partners Aber Resources (TSE), Commonwealth Gold (VSE) and SouthernEra Resources (TSE).

Located on two parcels of ground just across the lake from Dia Met-BHP’s diamond discovery, the finds bring to 17 the number of kimberlite intrusions reported in the area. (Dia Met confirmed the discovery of 10 kimberlites, including the Point Lake discovery, in September. Monopros is rumored to have found one.)

Lakefield Research in Ontario is analyzing core samples from Aber’s intersections for their microdiamond content.

With only one hole in each target, Aber President Grenville Thomas said it’s too early to determine the size or dimensions of the intrusions. “We don’t know yet how the drill results relate to the geophysics, but the important thing is we’re finding kimberlite,” he said. “It appears that we’re going to find a lot more kimberlite based on this experience.” Thomas said another 20-30 targets on the joint venture claims will be tested during the longer days of early spring.

The two claim groups include the 106,000-acre “Tenby Claims,” a joint venture of Aber (25%), Commonwealth (25%) and SouthernEra (50%), and the 134,000-acre “Tenby Group,” where Aber holds a 51% interest, Commonwealth a 24% interest and SouthernEra a 25% interest.

Kennecott Canada has the right to earn 60% of Aber’s interest in both blocks by carrying $10 million of Aber’s expenditures. The major can also earn 60% of SouthernEra’s interest by carrying all of the junior’s expenses to a production decision. Commonwealth’s interest is fully participating. In other diamond developments:

— A total of 27 samples taken from the Lake Providence property, 50 miles west of the Point Lake discovery, and processed by the Saskatchewan Research Council, indicate a concentration of pyrope garnets, chrome diopsides and ecologitic garnets down-ice from magnetic lows. The 7,750-acre property is shared by Greater Lenora Resources (TSE) and Winspear Resources (VSE). — Jack Marr, former regional manager in charge of diamond exploration in the Northwest Territories for Kennecott, has joined Teryl Resources (VSE) as vice-president of exploration.

— Garden Lake Resources (VSE) has acquired the right to earn a 100% interest in the 50,000-acre Jolly Lake block southwest of Lac de Gras by spending $400,000 by Nov. 1, 1995, paying $25,000 cash, and issuing 200,000 shares. — Sudbury Contact Mines (TSE) has identified more than 20 potential kimberlite targets on property held by Panthco Resources (CDN) near Kirkland Lake, Ont., the unlisted company reports. To earn a 60% interest in the Mary Ann property, the Agnico-Eagle affiliate must spend $500,000 and make cash payments of $110,000. To date, $200,000 has been spent and $60,000 paid out. — Tom Bryant, the geological consultant who discovered two diamonds in the Sweetgrass Hills area of southern Alberta (T.N.M., Oct. 26/92), recently verified that indicator minerals were found in association with the diamonds. The find was made near a magnetic high that lies on trend with known lamproite pipes to the south, he says.

— Golden Marlin Resources (VSE) has joined the Western Shield Prospecting Syndicate, a group that has acquired over 15 properties in several diamond exploration plays.

— Having completed several financing agreements, Continental Precious Minerals (ME) is watching the diamond exploration activity in the Northwest Territories, Northern Ontario and Arkansas with relish.

By reimbursing Texas Star Resources (VSE) twice its exploration expenditures, Continental can take a 10% interest in a 1-million-acre property near Lac de Gras or the American, Kimberlite and TK-1 lamproite prospects in Arkansas owned and recently drilled by Texas Star. Continental can also acquire a 25% interest in Texas Star’s stake in the Crater of Diamonds project and has the right to buy back into a project in the James Bay Lowlands, where KWG is spending $2 million to earn a 51% interest.