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| | Wed Dec 5, 2001
Caustic Fusion Results From King Property
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| | Vancouver, BC, Diamondex Resources Ltd. (DSP-CDNX) is pleased to report microdiamond results from caustic fusion analysis of kimberlite drill core intersections obtained during the 2001 spring and summer drill programs on the King property, NWT, and to provide an update on exploration carried out over the property to date.
The King property is situated approximately 220 kilometers northeast of Yellowknife, Northwest Territories and adjoins the Camsell property which hosts the Snap Lake diamond deposit currently being developed by De Beers Canada Mining Inc. The King property comprises 44 mineral claims covering 113,000 contiguous acres and is 100% owned by Diamondex.
This drill program, totaling 9,472 metres, was designed to test the down-dip potential of the Snap Lake diamond deposit on the King property. A total of 6 holes were drilled with results from holes KG-002, KG- 003, KG-004 and KG-006 reported below. Drilling confirms the continuity of the Snap Lake dyke(s) system onto the King property based on down-dip projections and macroscopic comparisons. Caustic fusion was not carried out on hole KG-001 due to the "feathered" nature of the kimberlite intersections (17 intersections ranging in thickness from 2 cm to 33 cm over a 60 metre interval). However, textural and compositional characteristics of these narrow dykes are similar to those of the other drill intersections. Drill hole KG-005 was abandoned due to drilling difficulties. The drill holes were collared on approximate 800 metre centers to test the Snap Lake dyke down-dip as well as along strike.
CAUSTIC FUSION RESULTS
A total of 56.52 kilograms of kimberlite were processed by caustic fusion with a total of 346 stones recovered, of which 133 were greater than 0.212 mm square mesh sieve size. Processing of kimberlite core was conducted by Lakefield Research Limited utilizing techniques and methods of diamond sieving and reporting previously established by current Diamondex personnel while employed by Winspear Diamonds Inc. on the Snap Lake project. The diamonds have been sieved on a series of Endecott square mesh sieves. During their evaluation of the Snap Lake dyke system, Winspear Diamonds Inc. personnel used the number of diamonds remaining on a 0.3 mm sieve and passing through a 1.18 mm sieve (+0.3 mm --1.18 mm) normalized to 1000 kg to compare diamond abundance from sample to sample and from one area to another within the Snap Lake dykes. This technique has been applied to the King property to provide the basis for comparison with previously published data from the Snap Lake kimberlite as presented on the attached map.
The results of the caustic fusion program are as follows:
KING PROPERTY-CAUSTIC FUSION RESULTS
Diamond Sieve Sizes in Millimeters
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King Sample Total
Hole No Weight
No analyzed
(kg) +0.1 +0.15 +0.212 +0.3 +0.425 +0.6 +0.85 +1.18
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002 73331 5.49 3 6 4 1 1
73332 10.79 18 17 10 8 2 1 1 1
73333 7.62 17 7 11 1 2 1 2 1
003 73336 10.91 19 25 19 9 4 1
73337 2.47 0 2 1 0 1
004 73328 4.94 16 13 13 2 1 3
73329 2.5 0 0 0 1 1 0 1
73330 4.7 26 14 5 8 1 0 1
006 73334 4.95 8 13 4 2 0 6
73335 2.15 4 5 1 1
King
Combined 56.52 111 102 68 33 13 12 5 2
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KING PROPERTY-CONSOLIDATED CAUSTIC FUSION RESULTS
Microdiamond Analyses
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King Total Total Diamonds Diamonds Diamonds
Hole Weight normalized +0.3mm -1.18mm >1.18mm
No analyzed > 0.15mm sieve , /1000 kg normalized
(kg) to diamonds/10 kg to 1000 kg
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002 23.9 31 794 84
003 13.38 62 1121 nil
004 12.14 52 1565 nil
006 7.1 45 1267 nil
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Note: The numbers in column four are the diamond index numbers plotted on the accompanying map.
SUMMARY CAUSTIC FUSION RESULTS
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Number of intersections 10
Total Wt. kg 56.52
Total diamonds > 0.15mm sieve/10 kg 41.58
diamonds (+0.3mm-1.18mm)/1000 kg 1115
diamonds > 1.18mm sieve/1000 kg 35
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The four largest diamonds recovered are as follows: 2.08 mm x 1.45 mm x 0.49 mm (KG-002); 2.05 mm x 1.37 mm x
0.72 mm (KG-002); 1.85 mm x 1.57 mm x 0.61 mm (KG-004); and 1.41 mm x 0.88 mm 0.91 mm (KG-003).
EVALUATION OF MICRODIAMOND DATA
Following a review of all microdiamond data from the King property by Mr. Stan Deakin of Perth, Australia and consultant to Diamondex, a number of observations can be made.
1. The stone size distribution on the King property is generally similar to that previously reported for the Snap Lake diamond deposit. This substantiates the other characteristics indicating that the kimberlites on the King property represent an extension of the Snap Lake kimberlite system.
2. An increase in stone density per hundred tonnes in kimberlite on the King property compared to the equivalent measure as reported from the Snap Lake deposit equates to an increase in the overall recoverable grade in the kimberlites from the King property.
3. There is an increased abundance of larger stones (+0.6 mm to -1.7 mm sieves) in kimberlite recovered from the King property than has been reported for the Snap Lake diamond deposit.
Diamondex emphasizes, however, that these preliminary observations are based on a relatively small sample of kimberlite from the King property.
EXPLORATION UPDATE
In addition to the drill program a detailed 2D seismic survey, consisting of 9.5 line kilometers was conducted across both Snap Lake and the southern portion of the King property. This survey was jointly financed by Diamondex and De Beers Canada Mining Inc. and technically supported by the Department of Earth and Ocean Sciences at the University of British Columbia. This survey was designed to determine whether the Snap Lake dyke system can be identified at depth on the King property. If so, then it could be possible to establish continuity of kimberlite between widely-spaced drill holes and to investigate the potential for other manifestations of kimberlite that emplacement concepts suggest may occur. Analysis of the seismic data is currently underway with preliminary results pending.
A detailed airborne magnetic/electromagnetic (on 150 metre line spacing) was completed over the King property. A total of 3,055 line-kilometers were completed in addition to a previously conducted airborne survey (1,368 line-kilometer) flown at 200 meter spacing. A total of 75 airborne anomalies have been selected from these surveys for further evaluation and ground follow up. In addition, a total of 219 till samples were collected over the King property and are currently being processed and analyzed.
Diamondex remains encouraged by the preliminary results obtained to date. Results from the ongoing evaluation of seismic and geophysical surveys and continued processing of till samples will be reported when they are received.
Diamondex Resources Ltd.
"Randy Turner"
R.C. Turner, President, CEO
For further information please contact: Randy Turner 604-687-6644 or e-mail: diamonds@diamondex.net The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. |
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