Partners OK budget for Carat

Vancouver — Partners Diamondex Resources (DSP-V) and Tyler Resources (TYS-V) have approved a $860,000 summer exploration program on the Carat diamond property, some 350 km northeast of Yellowknife, N.W.T.

The goal is to evaluate the kimberlite body outlined by the companies when they drill-tesed the CT-55 geophysical anomaly.

The new kimberlite lies 20 km northeast of the Sable pipe, discovered by BHP (BHP-N) and Dia Met Minerals near their Ekati diamond mine. The discovery hole hit the kimberlite 33 metres down-hole. It remained in the body to a depth of 70.1 metres before the hole was abandoned. The drilling is part of a summer program that is aimed at evaluating 15 targets.

Diamondex holds 70% of the property; Tyler, the remainder.