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King Property, Northwest Territories

Location:
The King property is located 220 kilometres northeast of Yellowknife, Northwest Territories. This property adjoins the northern boundary of De Beers Canada Mining's Snap Lake diamond deposit, which is currently being developed as Canada's fourth diamond mine.

Size:
16 mineral claims encompassing 41,148 acres

Ownership:
Diamondex 100%

Assets:

  • The down-dip extension of the Snap Lake kimberlite dyke-system has been traced north onto King to depths in excess of 1,400 metres.

  • The kimberlite is similar to the Snap Lake diamond deposit in texture, structure, mineralogy and diamond content.

  • The Snap Lake kimberlite dyke is reported to have reserves of 18.3 million tonnes with a mineable grade of 1.46 carats per tonne at US$144 per carat.
King Location Map

Overview:

In 2001, six widely spaced, vertical NQ-diameter drill holes were completed to test for the down-dip extension of the Snap Lake kimberlite dyke. Five holes intersected kimberlite with one hole abandoned because of technical difficulties. A total of 56.52 kg of core was processed, with 346 stones recovered - 133 stones were larger than the 0.212 mm square mesh size. The largest stones measured were; (1) 2.08 mm x 1.45 mm x 0.49 mm (2) 2.05 mm x 1.37 mm x 0.72 (3) 1.85 mm x 1.57mm x 0.61mm (4) 1.41 mm x 0.88mm x 0.91mm. These preliminary results indicate a grade comparable to Snap Lake at a similar stage of exploration.

A detailed 2D seismic survey conducted in 2001 clearly defined the Snap Lake kimberlite horizon on King to depths exceeding 1400 m. A second phase of the seismic survey, completed in the spring of 2002 along a north trending survey line, was designed to outline the lateral and vertical variation within the kimberlite dykes beneath the property. The result of this survey line extended the initial seismic survey north by an additional 1.5 kilometers. Pre-processing of the seismic data, which included survey and geometry definition, trace editing, picking of the first breaks and the development of a near surface model, indicated that this seismic method is an effective exploratory tool and could guide future drill testing of the Snap Lake dyke system.

A 2001 airborne Mag/EM survey identified several anomalies, with priority targets followed-up with ground magnetic, resistivity and gravity geophysical surveys. Seven higher-priority targets were drill-tested in 2002, yielding no kimberlite.

Maps and Photos

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:Show image 'Snap Lake Dyke Cross Section' in New Window:
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Snap Lake Dyke Cross Section
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:Show image '2002 Vibroseis Line' in New Window:
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2002 Vibroseis Line
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:Show image '2001 Seismic Line' in New Window:
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2001 Seismic Line
73 KB, approx. 15 seconds at 56.6Kbps
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:Show image 'Drill Program, April 2001' in New Window:
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Drill Program, April 2001
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:Show image 'Seismic Survey, May 2001' in New Window:
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Seismic Survey, May 2001
27 KB, approx. 6 seconds at 56.6Kbps
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:Show image 'Drill Program, June 2001' in New Window:
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Drill Program, June 2001
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:Show image 'King Camp, June 2001' in New Window:
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King Camp, June 2001
27 KB, approx. 6 seconds at 56.6Kbps
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:Show image 'Fall Colours, King Camp' in New Window:
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Fall Colours, King Camp
51 KB, approx. 10 seconds at 56.6Kbps
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:Show image '2002 Vibroseis Seismic Survey' in New Window:
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2002 Vibroseis Seismic Survey
69 KB, approx. 14 seconds at 56.6Kbps
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:Show image 'C-185 at King' in New Window:
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C-185 at King
101 KB, approx. 20 seconds at 56.6Kbps
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:Show image 'Aerial B King Camp 21 May 2001' in New Window:
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Aerial B King Camp 21 May 2001
131 KB, approx. 25 seconds at 56.6Kbps