Diamond hunt gains momentum in Quebec

Diamond fever has spread to the Montreal area and the Abitibi (northwestern) region of Quebec.

In the Montreal region, mining entrepreneur Peter Ferderber of Val d’Or, Que., has staked more 200,000 acres covering the St. Lawrence Rift System. The property covers a corridor 15-20 miles wide that contains several known kimberlites, including the Ile Bizard occurrence.

Ferderber told The Northern Miner that he chose the Montreal area because of favorable geology and geophysical data. He added that the claims are highly accessible and can be initially evaluated at a low cost.

Ferderber is currently discussing option agreements for various portions of the property with about 15 junior mining companies. Interested parties include Tandem Resources (ME), North American Rare Metals (ME), Matt Berry Mines (CDN), Noront Resources (TSE), La Fosse Platinum (TSE) and the Hughes-Lang group of companies. Stan Hawkins, a spokesman for Tandem, North American Rare and Matt Berry, says his companies are negotiating for three claim blocks totalling about 1,000 claims.

Abe Abolins, Noront’s vice-president exploration, says his company has a firm deal with Ferderber for two claim blocks totalling more than 27,000 acres. Noront has raised money, via a flow-through-share offering in Quebec, to finance an early spring exploration program consisting of ground magnetic surveys, soil sampling and reconnaissance geology.

A major staking rush is also apparently under way in the northwestern Quebec area of Le Tac Twp., which adjoins Benoit Twp. to the east, about 37 miles northeast of Lebel-sur-Quevillon, Que. It is reported that staking now extends to more than 50 townships in the area. Active companies are reported to include Soquem, Serem Quebec, Societe d’Exploration Miniere Mazarin (ME) and Societe d’Exploration Miniere Vior (ME).

The rush was triggered by a recent announcement from Explorations Minieres du Nord (ME) that Monopros, the Canadian subsidiary of De Beers Consolidated Mines, had discovered a microdiamond in kimberlite drill core from Minieres du Nord’s Le Tac West property.

Partners Minieres du Nord (80% interest) and Soquem (20% interest) are currently discussing option terms for the diamond rights to the Le Tac West property with Monopros.

Orbite Exploration (ME) has also confirmed that kimberlite dykes are present on its 8,000-acre landholdings in Le Tac Twp. southwest of Minieres du Nord’s property. Orbite President Pierre Gevry says that his company is staking additional ground in the area and is sending out 200 lb. of kimberlite material collected from drill core for testing.

Vancouver junior Goldstack Resources (VSE) has an option to earn a 25% interest in Orbite’s 2,500-acre Almas property in Le Tac Twp. In return for the interest, Goldstack will issue Orbite 100,000 common shares. Meanwhile, in Ontario, Pure Gold Resources (TSE) is earning a 50% interest in diamond properties held by Cathedral Gold (TSE), Cross Lake Minerals (VSE), East West Resource (VSE) and Golden Dragon Resources (VSE). The Kirkland Lake area properties cover 12 possible kimberlite targets adjacent to the Munro Esker.

To earn its interest, Pure Gold must make aggregate payments of $45,000 and spend $750,000 on exploration work during the next two years. Ground magnetic surveys and reverse circulation drilling will be conducted on the properties during the next three months.

— For more diamond exploration coverage, see Page 14.