DIAMOND PAGE — Geophysical targets identified on Etruscan

Vancouver-listed Etruscan Enterprises reports that both Paterson, Grant and Watson (PGW) and Geonex Aerodat have conducted geophysical work on its Hackett River property in the Northwest Territories.

The PGW work identified 19 kimberlite targets, seven of which have been recommended for immediate follow-up ground work. Several others are considered “medium priority,” Etruscan said. The Aerodat program singled out 45 such targets, eight of which are considered high priority and 17 medium priority.

The surveys comprised 980 km. over the entire 12,500-hectare property at a flight-line spacing of 200 metres.

The PGW program relied on Euler deconvolution processing, which involves looking for pipe-like features in the magnetic data. The Aerodat target selection was based on geophysical interpretation of airborne magnetic and electromagnetic data in conjunction with published geological reports. Early this month, ground crews were to have been mobilized.

The property is owned 46% by Etruscan and 54% by Cominco (TSE). Elsewhere in the Territories:

* Major General Resources (VSE) has expanded, to 500,000 acres, its land position in the Slave diamond province by staking another 100,000 in the Humpy Lake area. The property, of which Major General holds 25%, centres on Origin Lake.

* Noble Peak Resources (ASE) reports that an airborne geophysical survey is in progress, with a follow-up field program scheduled to begin July 5. The program will explore Noble Peak’s MacKay Lake project.

Both Noble Peak and partner SouthernEra Resources (TSE) have personnel sampling eskers and till, mapping and conducting geophysical follow-up work. To fund the project, Noble Peak has completed a private placement worth $700,000, predominantly from flow-through shares.

* New Indigo Resources (ASE) has completed a $4-million offering of special warrants through First Marathon Securities. Once the deal clears the regulatory hurdle, New Indigo will spend the money to explore for diamonds on its joint-venture ground with Lytton Minerals (TSE) in the Northwest Territories.

* An aerial survey over New Dolly Varden’s (VSE) 226,540-acre claim block, immediately east of ground held by Lytton Minerals, has been completed. Alberta and Saskatchewan

Takla Star (ASE) has agreed to buy claims covering 714,240 acres near Drumheller. The permit area is covered by volcanic ash and bentonite beds which may be related to diatreme events, the company said. The acquisition increases Takla Star’s Alberta acreage to 4.8 million acres. Ontario and Quebec

Garden Lake Resources (VSE) and RJK Explorations (CDN) have completed a low-level, helicopter-borne, electro-magnetic and magnetic survey over their Warburton Bay property in Ontario. Circular magnetic targets were outlined, report the joint venturers, who now await interpretation of the survey. On the Covello property, under option to Pure Gold Resources (TSE), eight circular magnetic anomalies have been identified. Sampling is being done now, Garden Lake says. (RJK has no interest in this property.)

Overseas

Consultant A.C.A. Howe International has upgraded results from United Reef Petroleums’ (TSE) H-2 sample. In previous reports, it was said sample H-2, with a total volume of 12.8 cubic metres of material, graded 0.33 carats per metre. In fact, it graded 0.43 carats per cubic metre, United Reef reports. In all, five diamonds with a total carat weight of 4.25 were recovered. This is the first gravel material processed through the company’s mechanical wash plant at its Bamingui-Bangoran diamond property in the Central African Republic.

* Caledonia Mining Corp. (TSE) says its 48%-owned subsidiary, Reunion Mining PLC, has signed a joint-venture agreement with a private Australian company to explore Reunion’s Zimbabwe and Tanzania diamond properties.