Spider, KWG size up Kyle 3

Results from a 9-hole drilling program will be used by Spider Resources (SPQ-V) and partner KWG Resources to prepare a resource estimate for the Kyle 3 intrusive body in the James Bay Lowlands area of northern Ontario.

The deep-seated Kyle 3 body is understood to be a complex, multi-phase diatreme intrusion from which emanate many dykes in all directions. One of these dykes strikes east-west and has an elevated diamond count. The winter drilling was designed to test the body along its entire strike length of 700 metres.

Since its discovery, in 1995, Kyle 3 has been intersected by 16 drill holes.

Thirteen samples from three recent holes returned 264 microdiamonds (including 33 stones greater than 0.425 mm) from 304.6 kg of material. Microdiamond results from a further 28 samples are pending.

Spider holds a 48.82% interest in the Kyle Lake project, with the remainder held by KWG.

In the meantime, the partners have collected a series of samples from their jointly held Sandor property, 30 km north of Wawa, Ont. The Sandor dyke has now been traced by excavator trenching a further 75 metres east of the original highway exposure. The width of the dyke varies between 8 and 12 metres. Sandor has yielded 82 micros and 15 macros from 309.3 kg of surface material.

The partners are collecting three 2-tonne samples at 25-metre intervals along the Sandor extension. One additional 2-tonne sample was also selected for microdiamond processing from the southern extension of Pele Mountain Resources‘ (YPN-V) PC dyke, which extends on to the Sandor property. In addition, Spider and KWG have taken 30-kg samples of some 25 showings in and around the Sandor and PC dykes.

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