Somerset Island programs planned

About $1 million will be spent this year by several junior companies planning to explore various diamond properties on Somerset Island, N.W.T.

This Arctic Islands region was explored by Diapros (a subsidiary of De Beers) and Cominco (TSE) in the early 1970s. Kimberlites were identified in eight regions within a 100-km belt, and Cominco reported microdiamonds from one of a number of kimberlite pipes which it investigated.

Rather than compete in the Lac de Gras staking rush, Cyclone Capital (VSE) took part (with a 50% interest) in a staking program on Somerset Island last summer with private partners.

The junior also negotiated the right to earn a 100% interest in all of Cominco’s Somerset Island diamond properties, plus additional ones on Bathurst Island and Brodeur Peninsula, subject to Cominco retaining certain back-in provisions.

This year, Cyclone will operate a program on the Batty property where Breckenridge Resources (VSE) has the right to earn a 50% interest by spending $900,000 on exploration over three years.

Plans are being finalized for the program which is to include a detailed airborne magnetic survey in early spring, followed by mapping and further bulk sampling of the kimberlites from June to August.

Breckenridge President James Kermeen said the known Batty pipes were not definitively sampled in light of the diamond exploration techniques in recent years.

“The known pipes warrant further sampling and it is not unreasonable to expect that additional covered pipes exist on this large property,” Kermeen said, adding that the region is favorably situated with regard to access. Cyclone and its partners also entered into a agreement allowing Westpine Metals (VSE) and Alpine Exploration (VSE) the right to acquire a 25% interest each in three claim groups covering 60,000 acres on Somerset Island. A rough diamond weighing 0.142 carats was recovered from a 13.9-ton sample of kimberlite taken from one of these claims groups. Westpine and Alpine must spend $1.3 million over three years, including $375,000 during the 1993 field season.

Sway Resources (VSE) recently signed an agreement with Cyclone and partners allowing it to acquire 50% of seven claim groups on Somerset Island.