Tandem Announces New Discoveries.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 11, 2001 Tandem Resources (ME:TDM (Time Division Multiplexing) A technology that transmits multiple signals simultaneously over a single transmission path. Each lower-speed signal is time sliced into one high-speed transmission. .ME) Tandem Resources Ltd. ("Tandem") reports that two new discoveries have been made at Abloviak Fiord fiord: see fjord. , Ungava Bay Ungava Bay (ŭng'gä`və, –gā`–), inlet of the Atlantic Ocean, N Que., Canada, extending c.200 mi (320 km) S from Hudson Strait between the N Quebec mainland and the north tip of the Labrador peninsula. , in Northeastern Quebec. These are separate, and in no way related to the original diamond find reported several months ago. In the course of analyzing several samples for diamonds, Lakefield Research ("Lakefield") of Lakefield, Ontario, reports the presence of a large number of rubies. This discovery lies more than 1 km west of the original diamond discovery. Lakefield counted over 125 rubies in one sample of which 5% were larger stones (over 0.50 mm in one direction). The colour of these rubies varied from pink to dark red. Further evaluation of these stones, and others that may be found will be undertaken at a later date. Other samples are being investigated for the presence of rubies. At this time it is not known whether these stones are part of a dike Dike, in Greek religion and mythology Dike: see Horae. dike, in technology dike, in technology: see levee. dike Bank, usually of earth, constructed to control or confine water. system or are related to other factors. Ruby is a variety of the mineral corundum corundum (kərŭn`dəm), mineral, aluminum oxide, Al2O3. The clear varieties are used as gems and the opaque as abrasive materials. Corundum occurs in crystals of the hexagonal system and in masses. and the second hardest gemstone gemstone Any of various minerals prized for beauty, durability, and rarity. A few noncrystalline materials of organic origin (e.g., pearl, red coral, and amber) also are classified as gemstones. next to diamonds. It's colours can vary from a delicate pink to deep carmine red. The dark carmine red ruby is rare and the value exceeds that of a comparable diamond. Another dike system about 6 km north of Abloviak Fiord has yielded a micro diamond in a small sample. Further sampling of this area will be undertaken in this year's program. Previously, Tandem reported a diamond discovery in a kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. dike which has been traced over 3.5 miles. Two samples from this dike, about 1 km apart, returned 10 diamonds, including 4 larger stones designated as macros (greater than 0.5 mm) in one direction. As reported in previous news releases, Tandem holds a 40% back-in interest in the property on which all of the discoveries have been made. The property covers about 470 km and is owned by Diamond Discoveries International, a U.S. company. Tandem has the right to back-in for a 40% interest after Diamond Discoveries has expended $5.0 million. Only about $500,000 has been spent so far. ON BEHALF OF THE BOARD OF DIRECTORS (signed) Michel Lafrance, Secretary |
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