| To: GC who wrote (1935) | 4/12/2004 10:21:53 AM |
| From: rdww | of 6931 |
| |
SPQ hits 129M of Kimber in Atta - 1.5Km from Tango and 8 km from Victor. Scott Hogg is part of the team that helped identify the possible potential down there adn this opens aup a big can of fun IMO. WHat they are sugggesting is that the 18 pipes already identified in the arwa are the easy ones and that there are more pipes or feeders in the deep basement here. Will be nice to see what they get back from the core. But we already know that the area is teeming with very nice diamonds or else DB wouldnt wanna spend $800MM to make a mine! . Kudos to SPQ for getting something back while we wait around for the great Chuck to do the same for the past couple years.
Spider, KWG uncover Good Friday kimberlite
Spider Resources Inc SPQ
Shares issued 156,228,479 Apr 8 close $0.20
Mon 12 Apr 2004 News Release
Also (KWG)
Mr. Bryan Wilson of Spider reports
SPIDER RESOURCES INC.: NEW KIMBERLITE DISCOVERED 8 KILOMETERS NORTH OF
PROPOSED VICTOR DIAMOND MINE
Spider and joint venture partner KWG have discovered a new kimberlite pipe
on their McFadyen property located in the Attawapiskat kimberlite cluster,
100 kilometres west of Attawapiskat, Ont., in the James Bay Lowlands. On
Good Friday 129.5 metres of kimberlite was intersected in a drill hole
located eight kilometres north of the Victor mine project, a
much-anticipated new diamond mine expected to be officially announced later
this year. This new kimberlite is designated as the Good Friday kimberlite.
The first hole of the current program, SPQ-04-01, tested a magnetic target,
approximately 100 metres in diameter, located 300 metres northeast of
previously discovered (1994) MacFadyen No. 1 kimberlite and 600 metres
northeast of the MacFadyen No. 2 kimberlite, all of which are within eight
kilometres north of the advanced Victor kimberlite development project of
De Beers Canada Exploration and 1.5 kilometres east of De Beers' Tango and
Tango Extension kimberlites.
The discovery hole into this new occurrence entered weathered crater facies
kimberlite at a vertical depth of 47.5 metres after passing through various
layers of glacial till consisting of silt, sand and limestone boulders.
After a few metres of crater facies kimberlite, hypabyssal facies
kimberlite was encountered. This facies shows a bimodal distribution of
olivine, the larger of which contain chrome diopside. Occasional corroded
orange pyrope garnets have been observed. Xenolithic fragments, pyrope
garnets and the larger olivine macrocrysts have a very distinct reaction
rim seen in other diamond bearing kimberlites in the region.
The vertical hole remained in hypabyssal kimberlite for 129.5 metres until
177 metres, when it entered the sedimentary rocks, and it was stopped at
189 metres.
Additional holes are currently planned in the immediate area of this new
occurrence to test other newly detected kimberlite targets. Furthermore, a
250-metre deep magnetic linear feature traceable for seven kilometres
within the joint venture property will be tested during this drill program.
This deep linear magnetic feature has been interpreted as a possible
kimberlite filled fissure or dike.
The Good Friday pipe is in an area of two known kimberlite pipes named
after one of the diamond exploration pioneers of this decade-long
exploration project, Donald A. MacFadyen. In 1992 Mr. MacFadyen
conceptualized this very successful diamond exploration project that has
resulted in the discovery of eight kimberlites in the James Bay Lowlands of
Ontario. De Beers Canada Exploration Inc. and the Canabrava-Navigator joint
venture have discovered other kimberlites in this area.
The selection of these new drill targets has involved a very detailed
interpretation of several different periods of acquisition of ground and
airborne magnetic data, followed by the reprocessing of the accumulated
geophysical data sets with a proprietary technique that enhanced selected
features. These features were modelled, reviewed and prioritized as drill
targets. Neil Novak, PGeo, worked closely with Scott Hogg (PEng) and Steve
Munro (BSc) of SHA Geophysics Inc. to reanalyze and reprocess the old
magnetic data over the past few years, which has culminated in another
technical success for this exploration trio.
Additional ground magnetic survey data were acquired last summer. This
final magnetic survey was used for locating drill sites for the current
drill program which is under the field supervision of an independent
qualified person, Roger Thomas (MSc, PEng, PGeo). Mr. Thomas will be
logging the drill core and selecting the samples for diamond content
processing and will be personally delivered by project manager Neil Novak,
PGeo, to a diamond recovery laboratory for a complete diamond content
analysis using caustic dissolution.
Meanwhile, the joint venture continues with its diamond drilling and
geophysical exploration of the McFaulds Lake volcanogenic massive sulphide
project, located 150 kilometres to the east of the Attawapiskat diamond
project. Both exploration programs will continue until breakup, which
happens toward the end of April or beginning of May in this part of the
Canadian North.
(c) Copyright 2004 Canjex Publishing Ltd. http://www.stockwatch.com |
