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RAM Joint Venture, Northwest Territories

RAM Location Map
click to enlarge

Location:

This project is located in the southern Slave Craton of the Northwest Territories, approximately 140 kilometres northeast of Yellowknife.

Size:

The land package currently comprises 30 claims covering approximately 74,650 acres.

Ownership:

Stornoway 53.21%/ Diamondex 46.79%. Diamondex is the operator of the project.

Assets:

Geochemical evidence indicates that the area is underlain by very thick lithosphere, a favourable condition for diamonds in any kimberlites which may be discovered.

The character of the main KIM train in the northeast part of the property has been shown to be very similar to that of the Snap Lake dykes with a suspected source area of approximately 6km2.

Overview:

In the first year of sampling (2002), analysis of overburden samples revealed the presence of several kimberlite indicator mineral (KIM) trains. The grains recovered had good chemistry (G10s) and showed a different lherzolite trend compared to Kennady Lake and other pipes found up ice, therefore a new source.

Further sampling covering the entire property in 2003 identified a northeast trending KIM train in the northeast part of the property as the most promising. In 2004, a 4,100 line-kilometre helicopter-borne magnetic and time-domain electromagnetic (VTEM) survey was flown over the northeastern part of the property and in early 2005, a 7,500 line-kilometre high resolution airborne magnetic survey was flown over the primary KIM train source area. A drill program in 2005 tested 10 circular targets in the eastern part of the property. No kimberlite was intersected.

Further sampling in 2005 and 2006 was conducted to further delineate the KIM trains and define cut-offs for the trains.

Forecast 2007:

The JV has approved a budget to process priority samples to further reduce the source area. Once the remaining priority samples have been processed and the source area for the KIMs has been reduced to 1-2 km2, a program including a tightly spaced ground penetrating radar survey to define linear targets is planned which will be followed by a drill fence across the area.