Working in the Kyle Lake diamond property in northeastern Ontario, partners KWG Resources (TSE) and Spider Resources (ASE) have started their new exploration program with a bang.
Numerous nodules of eclogite, one of which contains a visible macrodiamond, have been discovered in a section of drill core from the Kyle Lake 1 kimberlite.
The nodules were found in a zone that begins at a vertical depth of 310 metres. It was intersected in the first drill hole of the 1996 winter program at Kyle Lake.
The hole crosscuts the kimberlite from south to north and has confirmed the kimberlite’s north-south width of 176
metres. A second hole has been started in order to test this kimberlite in an east-west direction.
A second drill rig has been moved on to the property to accelerate the sampling program. The kimberlite will be systematically drilled on 50-metre centres, making it possible to collect 20 tonnes of rock for extraction processing. The sample will also be used to study the structure and composition of the body to a depth of 450 metres.
Five highly diamondiferous layers were identified in the Kyle Lake 1 kimberlite during the winter 1995 drill program, with grades of up to 8 carats per tonne reported over a 12-metre section. The average grade of the last KWG-Spider drill hole into this kimberlite was 1.24 carats per tonne in a 364-kg test. A total of 370 diamonds, of which 79 were macrodiamonds, were recovered in the test.
Ashton Mining of Canada (TSE) tested this kimberlite with two holes in 1995, and subsequently relinquished its potential 51% interest. The current ownership is shared 70-30 between KWG and Spider, respectively.
The program, which is estimated to cost $1.5 million, is being financed by Spider.