DIAMOND UPDATE — Aber uncovers seven new kimberlites

Drilling on the Diavik project in the Lac de Gras area of the Northwest Territories has uncovered seven new kimberlite intrusions, reports Aber Resources (TSE).

Although bad weather has hampered the exploration effort since it got under way in mid-April, Aber has completed 25% of the 13,120-ft. (4,000-metres) program. Until weather and daylight conditions improve, the company is focusing on targets closest to the Lac de Gras base camp on Echo Bay’s winter road.

Of the new discoveries, three lie on 100%-owned ground and four on the Tenby property held by Aber, SouthernEra Resources (TSE), and Commonwealth Resources (VSE).

Kennecott Canada is earning a 60% interest in the Diavik project, covering 1.4 million acres, by spending $10 million on exploration and development over four years.

Aber is still receiving results from till and esker samples collected last summer. About 450 heavy mineral samples remain to be processed. Drill core samples are being shipped to Anamet Services laboratory in Bristol, England, for testing.

Elsewhere in the Northwest Territories:

* A hole drilled by Kennecott Canada on a claim group held by Almaden Resources (VSE), Troymin Resources (ASE) and Williams Creek Explorations (VSE) failed to intersect kimberlite. Drilling will resume after spring break-up.

* Treminco Resources (TSE) has acquired a 20% interest in two groups of claims at Pollock Lake, N.W.T., about 80 miles northwest of Yellowknife. The ground was staked to cover favorable airborne anomalies near Lac La Martre. Alberta and Saskatchewan

* Exploration Mirandor (ME) has reached an agreement to earn a 50% interest in a 100,000-acre property 60 miles west of Edmonton in exchange for 600,000 shares and exploration expenditures of $175,000.

The property lies on a northwest-southeast-trending corridor thought to be favorable for lamproite/kimberlite intrusions. Reconnaissance sampling has uncovered diamond indicator minerals.

Manitoba

Enterprise Exploration, a subsidiary of CRA Ltd. of Australia, has staked 300,000 acres in the Snow Lake area of northern Manitoba. CRA has a 59.9% interest in the Argyle mine in Australia, the world’s largest diamond producer.

The area of interest lies east of the diamond claims in Saskatchewan’s Molonosa Arch area, where Consolidated Pine Channel (VSE) is launching a 10-hole program to test for kimberlite. In light of staking by the major producer, Surf Oil has increased its position in the area by 25,000 acres. Results of Surf’s winter exploration program will be released in June. Ontario and Quebec

* Emperor Gold (VSE) is planning a detailed airborne geophysical survey of its Coral Rapids property in the James Bay Lowlands. The survey will follow up six circular magnetic anomalies outlined by a previous survey. The targets lie at the head of a heavy mineral train detected by a government survey in 1975.

* Eastern Stone Products (ASE) has acquired a 50% interest in two blocks of claims in Belmont Twp., near Le Tac Twp., Que. The property covers an isolated circular airborne magnetic feature.

* Soquem will spend $240,000 on the Nelligan II property, near Le Tac Twp., in order to increase its interest in the project to 50% from 30%, report property-holders Orient Resources (ME) and Consolidated Gold Hawk Resources (ASE). Drilling will test for both gold and kimberlites.

Kimberlite dykes up to 33 ft. (10 metres) wide were intersected during a recently completed drill campaign on adjacent claims held by Orient and Gold Hawk.

Overseas

Under a new agreement, Cliff Resources (TSE) has the right to earn up to a 50% interest in the Philips Range diamond project in Australia. Cliff can earn 30% by spending $4 million on the project over the next two years and another 20% by paying Black Hills Minerals $8 million or issuing 10 million Cliff shares at 80 cents each by Dec. 10, 1993.

Cliff has completed a private placement of six million shares at 40 cents per share and an equal number of warrants exercisable at 50 cents per share until Dec. 10.

* By exercising options from various parties, United Reef Petroleums (TSE) has acquired an 80% interest in the 203-sq.-mile Bamingui-Bangoran diamond property in the Central African Republic (C.A.R.). The remaining 20% is held by C.A.R. nationals.

To satisfy the conditions of the options, United issued two million common shares from its treasury and assigned a 200-sq.-mile permit area to one of the option-holders.

Military and/or civil unrest reported in Bangui, the capital of C.A.R., has subsided, the company says.