Dia Met outlines plans for Lac de Gras sampling

A long-awaited summary of Dia Met Minerals’ (TSE) diamond exploration plans for the Northwest Territories was released recently.

As previously reported, Dia Met and partner BHP Minerals Canada will bulk-sample at least two pipes in the Lac de Gras area this spring. The objective of the ongoing program, which employs two reverse circulation drill rigs, is to extract at least 200 tonnes of kimberlite from each site by the end of April. Smaller, 20-tonne samples may be taken from other pipes if conditions permit drilling to continue into May.

A summer program will concentrate on mapping, sampling, geophysics and core drilling to identify additional kimberlite pipes.

Other diamond projects are under way in the Territories, where up to 100 kimberlite targets will be drilled this spring:

— A crew is conducting ground geophysical surveys to locate 12 kimberlite targets on the Crystal property of Tyler Resources (TSE) south of Lac de Gras. As soon as the first three targets are found, a 3,000-metre (10-12-hole) diamond drilling program will begin. A Midwest rig is on its way to the site and drilling is to commence by Mar. 20, says President Glen Harper. — Drilling recently began on the 1.1-million-acre property, northwest of Lac de Gras, of Lytton Minerals (TSE) following a small fire at the company’s camp. At least six targets will be tested by mid-April, says President Desmond Alexander.

— International Platinum (TSE) will examine its Muskox property, 194 miles northwest of Lac de Gras, for diamond potential this summer. The property lies along the dyke swarm dubbed the “corridor of hope” by diamond explorers and contains a large, platinum-rich intrusion.

Ontario:

— Goodgold Resources (VSE) has agreed to acquire half of Bethlehem’s right to a 100% interest in the Sharp Lake property in Bucke Twp., near New Liskeard. The 2,000-acre property is within 1,300 ft. of two kimberlite pipes and up-ice from the spot where several kimberlite boulders were recovered from an esker. Goodgold will make cash payments of $25,000 and spend $75,000 on exploration this year. An airborne survey will begin this month. Overseas:

— As expected, De Beers (NASDAQ) reported a 35% decrease in combined earnings to US$491 million in 1992 from US$759 million in 1991. “The CSO (Central Selling Organization of De Beers) restricted its sales in the latter part of 1992 and the balance between rough supply and demand in the cutting centres has been restored,” the diamond giant reports. “The mood in those centres is now cautiously optimistic.”

— United Reef Petroleums (TSE) says geologists have begun investigating the Bamingui-Bangoran project in the Central African Republic. Parts for a mechanized gravity-sampling plant with a capacity of four tonnes per hour are being manufactured in Brazil and Quebec. The parts will be flown into the capital city of Bangui for assembly in early April.

Drilling plans for Lac de Gras area

Company Property Rigs Scheduled Start-up** Initial targets

Aber* Tenby 1 Early April 40

DHK* DHK,WI,WO 1 Mar 15 6

Dia Met-BHP Lac de Gras 2(RC) under way 2 bulk samples

SouthernEra Various 1 Early April 10-20

Lytton Benachee 1 under way 6

Tyler Crystal 1 Mar 20 10-12

*under joint venture with Kennecott Canada

**weather permitting