Kennecott Canada Exploration has encountered a rock unit that it believes may be kimberlite while drill-testing the Phoenix geophysical target at the Legend property in northeastern Alberta.
An ultramafic rock was intercepted at a depth of 102.7 metres and, at last report, the hole was still in the unit at a depth of 132 metres. The rock is described as green with a fine-grained serpentine ground mass containing 2-to-4-mm rounded olivine crystals and country rock fragments. A few small core samples will be sent immediately for petrological examination to determine if the rock is indeed kimberlite.
Kennecott, a division of Rio Tinto (RTP-N) is conducting an initial drilling program to test three geophysical magnetic high targets, which show potential pipe-like characteristics.
The Legend property covers 1.5 million acres, about 50 km northeast of the main Buffalo Hills discovery block of Ashton Mining of Canada (ACA-T), Alberta Energy (AEC-T) and Pure Gold Minerals (PUG-T).
Kennecott can earn a 60% interest in the property from owners Montello Resources (MEO-A) and Redwood Resources (RDW-A) by either advancing it to a production decision or spending, over a 7-year period, $30 million on exploration. Ownership is currently divided 70-30 between Montello and Redwood.
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