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Lena West Property, Northwest Territories
Fifteen (15) diamonds have been recovered since exploration commenced on the Lena West project. The largest of these diamonds measures 3.0mm in its longest dimension. The project area also hosts kimberlitic ilmenite chemistries, which are indicative of favourable diamond preservation conditions. Property wide grain morphology studies of the recovered KIMs have distinguished a number of districts that indicate the presence of several primary and secondary sources. Overview: In 2006, Diamondex reduced its holdings in the Lena West project area from the original 6.15 million acres. In addition to decreasing the size of the land package, the Company also divided the property area into two separate project areas: Lena West and Lac des Bois. Presently, the "Greater Lena West" property is approximately 232,500 acres in size. Both the reconstituted Lena West and Lac des Bois areas are thought to host similar levels of diamond prospectivity. These properties enclose the most prospective segments of the project areas identified from the Company's exploration initiatives to date. Since Diamondex began exploring in the Lena West area in 2002, exploration work has included airborne and ground geophysical surveys as well as reconnaissance stream and till sampling programs. To date, a total of 159,086 line-kilometres of magnetic and electromagnetic airborne geophysical surveys have been flown. Over 5,400 heavy mineral concentrate ("HMC") samples have been collected within the project area and as a result, several thousand kimberlite indicator mineral ("KIM") grains have been recovered. Picking of all 1,724 HMC samples collected within the Lena West project area during the 2005 field season for the recovery of KIM grains was completed by June 2006. Five diamonds were identified, the largest of which measures 3.0mm in its longest dimension. This is the largest of the fifteen diamonds that have been recovered since exploration commenced on the Lena West project. Studies of the recovered KIM grains have identified at least seven high priority regions within the project area that host anomalous concentrations of pyrope grains as well as large picroilmenite grain populations. Two high-resolution magnetic surveys, totalling 18,500 line-kilometres, were flown in 2006 over six different prospective blocks within the project area. A review of the survey data has been completed and priority anomalies identified from these investigations have been combined with the most prospective localizations of KIMs outlined to date. During the summer of 2006, Diamondex's field crews collected a total of 1,478 stream sediment samples. This effort, led by Dr. Pokhilenko of the Diamond Research Institute of Novosibirsk, Siberia, collected HMC samples within the highest priority districts with the goal of assisting in the identification of targets for drill testing. The latest electron microprobe results from pyrope grains recovered in 2005 continue to confirm the property's diamond potential with chemistries indicative of harzburgitic and lherzolitic provenance. Late in 2006, a helicopter portable auger drill was used to test anomalies selected using the project's KIM and geophysical database. Over the course of this $1 million program, more than 300 samples were collected. Analysis of the samples collected during the auger drill program was completed in 2007.
Maps and Photos
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