Dia Met set to drill Finnish targets

Dia Met Minerals (DMM-T) has identified 169 potential kimberlite targets in parts of central and northern Finland.

In total, 125 claims were staked in an attempt to cover the targets. Until recently, the company would not disclose the location of the targets for fear of creating a staking rush.

In the spring of 1995, under the direction of Dia Met’s founder, Charles Fipke, the company began investigating the central and northern regions of Finland for their diamond potential. Fipke determined that these areas were underlain by an old craton, which presented a favorable geological environment for diamond-bearing kimberlites. A heavy mineral reconnaissance sampling program was completed in the summer of 1995, which identified areas marked by kimberlite indicator minerals favorable for diamonds. In the fall of that year, Australia-based Ashton Mining announced it had discovered diamondiferous kimberlites in Finland.

Using helicopter-supported airborne geophysics, Dia Met completed 25,476 line km over areas of interest by the spring of 1996. To date, more than 4,500 heavy mineral samples have been collected, and ground geophysics has been completed on 34 of the targets.

The company has spent more than $5 million on exploration in Finland up to Jan. 31, 1997. Another $5 million is budgeted for this year.