Kennecott tests Vega kimberlite discovery

Kennecott Canada Exploration has completed two holes on the new Vega kimberlite discovery at the Ice claims in the Northwest Territories.

The vertically drilled discovery hole intersected a 44.8-metre-long interval of kimberlite at a down-hole depth of 17-61.8 metres. A second hole, drilled at a 45 angle, encountered 47 metres of kimberlite at a depth of 47-94 metres downhole. The core samples have been sent for microdiamond analysis, and results are expected in the next few weeks.

The Ice claims are part of a package of properties in which Kennecott, a division of Rio Tinto (RTP-N), can earn a 50% interest by spending $50 million over eight years. The vendor is Tahera (TAH-T).