A joint venture consisting of Canadian Mountain Minerals (CYM-A), Dia Met Minerals (DMM-T) and Australian-based Quadrant Resources has detected more than 100 circular magnetic anomalies on diamond claims in western Greenland.
Dia Met, the operator, stands to earn 31% interest, whereas Canadian Mountain can earn 20%. Quadrant will hold the remainder.
About 1,400 heavy-mineral bulk samples have been completed. If results warrant, drilling could begin early in 1998. Meanwhile, plans to sample 14 known kimberlite occurrences on the property for indicator mineral content are under way.
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