Big Red Diamond Corporation: Announcement.MONTREAL -- Big Red Diamond Corporation ("Big Red") ("DIA", TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. ) is pleased to present an exploration update on its Attawapiskat/Dumont Joint Venture with Kel-Ex Development Ltd. Since the start of these joint-ventures more than $12.5 million has been invested in the Attawapiskat/Dumont claims. As previously reported inthe October 25, 2004 Metalex press release, the JV partners work on the Attawapiskat/Dumont project has focused, since mid-2003, on follow-up of the locations where high counts of diamond indicator minerals were found in the D6 glacial gla·cial adj. 1. a. Of, relating to, or derived from a glacier. b. Suggesting the extreme slowness of a glacier: Work proceeded at a glacial pace. 2. a. fan. This fan is located less than 10 kilometres from De Beers Victor diamond deposit, lies within the Attawapiskat kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. trend, and straddles ground subject to both the Big Red and Dumont joint ventures. To date, approximately 552 power auger auger (ô`gər): see drill. auger Tool (or bit) used with a carpenter's brace for drilling holes, usually in wood. It looks like a corkscrew and produces extremely clean holes, almost regardless of how large the bit is. holes totalling 5,358 metres and 67 core holes totalling 2,370 metres have been drilled. Approximately 1,385 power auger samples have been collected and results are available for 940 of them. A combined aeromagnetic and electromagnetic survey was flown over 6,000 line kilometres and ground electromagnetic with or without gravity surveys have been carried out over approximately 23 line kilometres. Approximately 122 samples of kimberlitic material and glacial till have been analyzed for diamonds. Results from the power auger sampling show that the D6 diamond indicator fan is more than 3.6 kilometres long and 3.5 kilometres wide. Within the D6 fan there are 18 separate interpreted glacial trains of diamond indicator minerals which do not appear to originate from any of the known kimberlite pipes. The presence of multiple sources within the D6 fan is further supported by the high counts (less than six to 564 grains (average 19) per 20 kilograms) of diamond indicator minerals present in 856 samples occurring throughout the D6 fan. These trains are characterized by varying amounts of fresh (near source) grains of pyrope py·rope n. A deep red garnet, Mg3Al2Si3O12, used as a gem. [Middle English pirope, from Old French, from Latin and eclogitic garnets Garnets may have the following meanings
Common silicate mineral in the pyroxene family. Diopside is a calcium and magnesium silicate (CaMgSi2O6) that occurs in metamorphosed siliceous limestones and dolomites, in skarns, and in igneous rocks. , picroilmenite and olivine olivine (ŏlĭv`ēn), an iron-magnesium silicate mineral, (Mg,Fe)2SiO4, crystallizing in the orthorhombic system. contained within glacial deposits. The freshness of many of the grains suggests that their source is nearby and this is supported by the discovery of an angular fragment of kimberlite, containing purple pyrope garnets, in one of the trains. As many of the diamond indicator grains have chemistries analogous to those minerals that grow with diamonds in commercial diamond deposits (such as Orapa), it is inferred that the source of the grains may contain significant diamond grades. The main method used to date to locate these postulated pos·tu·late tr.v. pos·tu·lat·ed, pos·tu·lat·ing, pos·tu·lates 1. To make claim for; demand. 2. To assume or assert the truth, reality, or necessity of, especially as a basis of an argument. 3. sources has been by systematic backtracking (algorithm) backtracking - A scheme for solving a series of sub-problems each of which may have multiple possible solutions and where the solution chosen for one sub-problem may affect the possible solutions of later sub-problems. of the diamond indicator minerals up the inferred ice direction by power auger sampling, supplemented by core drilling at selected locations. Kimberlite, and possible kimberlite, have been field logged in power auger holes in four areas (K1, K2, K3 and K4) which occur over an area of at least 900 metres by 200 metres within the D6 fan. In each case the kimberlite, and possible kimberlite, occurs between 11 metres and 18 metres depth and is overlain o·ver·lain v. Past participle of overlie. by glacial till. The kimberlitic rocks are extremely weathered and identification is based on appearance and texture and high counts (111 to 657 (average 348) grains per 20 kilograms) of kimberlite indicator minerals. Of the 26 kimberlite or possible kimberlite samples processed, diamond indicator mineral counts ranged from two to 29 (average 14) grains per 20 kilograms. K1, which is associated with a ground electromagnetic anomaly 150 metres in diameter, and K2 have been tested by core drilling with 11 holes totalling 430 metres being drilled. The holes bottomed in limestone and it is concluded that the kimberlite does not continue at depth. At K3, located 700 metres west-northwest of K1, kimberlite and possible kimberlite, were encountered in seven power auger holes over an area of 170 metres by 70 metres. Although three core holes, totalling 143 metres, drilled in the eastern part of the anomaly bottomed in limestone, these holes do not adequately test the kimberlite occurrence and further core drilling is planned. A macrodiamond, of maximum dimension 0.819 millimetre, was recovered from a sample of glacial till weighing 19 kilograms down ice from K3. At K4, located approximately 150 metres to the northwest of K3, kimberlite was encountered in two power auger holes 50 metres apart. This occurrence, which is open on three sides, contains strong counts (13 to 23 per 20 kilograms) of diamond indicator minerals and a microdiamond was recovered from a 12-kilogram sample. K4 is currently being delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. by power auger sampling and will be tested, along with K3, by core drilling when this work is complete. A ground electromagnetic anomaly "EM2" measuring at least 700 metres by 400 metres was tested by power auger sampling and core drilling. Power auger sampling located variable amounts of green kimberlitic clay and strong counts of unabraded diamond indicator minerals within glacial deposits at the anomalous site. A single microdiamond was also found. Two core holes (totalling 189 metres) drilled in the anomaly bottomed in Paleozoic sediments and it is concluded that the electromagnetic anomaly reflects near surface conductors here, consisting of till and green kimberlitic clay, and that the source of the diamond indicator minerals lies up ice. There are several sites within the D6 indicator fan containing strong diamond indicator count (such as OT 134, which contains 44 diamond indicator, and 466 kimberlite indicator grains per 20 kilograms) that have not yet been followed up. These are additional priority targets for continuing work. In addition to the 16 samples of kimberlite and green clays Green Clay (August 14, 1757 – October 31, 1828) was born in Virginia in Powhatan county. When he was a young boy he moved to Kentucky and became a surveyor, a job that made him a fortune. , a further 83 samples of glacial till containing high counts of diamond indicator minerals were analyzed for diamonds by caustic caustic, any strongly corrosive chemical substance, especially one that attacks organic matter. A caustic alkali is a metal hydroxide, especially that of an alkali metal; caustic soda is sodium hydroxide, and caustic potash is potassium hydroxide. fusion. A macrodiamond was found in glacial till down ice from K3, a microdiamond was found in kimberlite encountered in a power auger hole in K4, a microdiamond was found in till at EM2 and a fourth diamond was found in glacial till within another fan 1.8 kilometres from K3. The remaining samples are negative.The helicopter geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. yielded three anomalies and these are scheduled for testing by core drilling. While the glacial geology in the area is complex, and locating the kimberlite sources of the diamond indicator minerals is proving difficult, the company is confident that it is just a question of time until the source rocks of the angular (near source) indicator minerals containing diamond inclusion compositions are found. Further work will consist of continued systematic back tracking of the best diamond indicator minerals up ice in the D6 fan by power auger sampling and core drill testing of discovered kimberlite and possible kimberlite occurrences. In addition, drill testing of the three helicopter geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. targets as well as follow-up of several other areas of strong diamond indicator counts and testing of several untested aeromagnetic anomalies will also be carried out. Big Red has a 20-per-cent contributing interest in the Big Red joint venture and a 20-per-cent contributing interest of Kel-Ex's entitlement to earn 90-per-cent interest in the Dumont joint venture. The first interests is not subject to a net carried interest in favour of Kel-Ex Development Ltd. while the subject of a possible carried interest on the Dumont sections of the JV payable to Kel-Ex is being discussed between the partners as earlier reported in Big Red's September 24, 2004press release. These joint ventures control a total of 162 mineral claims totalling 306 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release. Big Red Diamond Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DIA) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion