DIAMOND PAGE — De Beers teams up with Canadian juniors at

Multi-national De Beers Consolidated Mines is operating an exploration program on the Yamba Lake property in the Lac de Gras region of the Northwest Territories.

The international diamond company can earn a 60% interest from two juniors, Tanqueray Resources (ASE) and Mill City Gold (VSE), which each hold a half interest.

The work will consist of detailed analysis of existing airborne geophysics, additional sampling to improve sample densities in target areas, and high-resolution helicopter-borne geophysics. Drilling of priority targets will also be carried out.

Based on a review of existing data, 10 main targets have been identified and five of these will be drilled this fall. The remainder are to be tested in the winter of 1995.

Tanqueray and Mill City previously tested several kimberlites on the property. A mini (24.5-ton) bulk sample from the Torrie pipe yielded 19 diamonds weighing an aggregate 0.63 carats, while no diamonds were recovered from a similar-size sample from the Ptarmigan pipe.

Farther south, closer to Yellowknife, De Beer’s wholly owned exploration subsidiary, Monopros, is funding a $2-million program on properties held by the Slave Diamond Syndicate. Gerle Gold (VSE) has the largest stake in the syndicate, with 40%, while three other companies — Norcal

Resources (VSE), Tenajon Resources (VSE) and Westley Technologies (TSE) — each hold 20%.

The land package is near Dessert and Fishback Lakes, near Great Slave Lake. Monopros can earn a 60% interest by completing $7 million of exploration within three years.

The first $2-million program will be carried out in two stages. Several targets will be drilled, solely on magnetic signatures. Indicator mineral sampling will be carried out, together with detailed magnetic surveys, in order to select targets for the second stage of drilling.

To date, nine magnetic anomalies have been drilled, with no kimberlites found. Indicator mineral sampling is continuing, with 200 samples shipped to the Monopros lab. Magnetic surveys were carried out over 57 targets, and more work is under way.

Elsewhere in the Northwest Territories

* Partners Jerez Investment (ASE) and Tyler Resources (TSE) report that pyrope garnet and chrome diopside grains have been found in several till samples from their North Humpy joint venture property. As a result, several areas of the property will be subjected to detailed surveying. Jerez is in the final stages of filing a prospectus to raise funds for continued exploration on the North Humpy and Carat properties, both of which are near Lac de Gras.

* Ashton Mining of Canada (TSE) has processed drill core totaling 2.4 tonnes from the Cross kimberlite, about 200 km southwest of Lac de Gras. The bulk sample yielded seven stones greater than 1 mm in size, with a combined weight of 0.174 carats. This implies a diamond grade of 7.3 carats per 100 tonnes, but Ashton cautions that the grade is based on a relatively small sample.

More than 90% of the kimberlite tested was classified as crater sediment facies from the upper levels of the body. A diatreme component has been encountered in several holes, but its potential has yet to be quantified. The area of the pipe, as defined by drilling to date, is 1.8 hectares, and the body remains open in a southerly direction.

Additional delineation drilling is planned and other exploration targets are being generated on the property.

Ashton is earning a 51% interest in the play, which is held by Pure Gold Resources (TSE) and Tenajon Resources (VSE).

Overseas

* Vancouver-listed Namibian Minerals (NAMCO) has been granted Exclusive Prospecting Licence 14-2-1-4-2-2002, which covers more than 98,000 hectares of marine area off the Namibian coast. The licence is strategically situated near the company’s existing grant areas, off Hottentots Bay and Luderitz. NAMCO is preparing a major bulk sampling program following encouraging results from a $3-million geophysical survey of its Namibian and South African marine concessions.

The company is undertaking an issue of its securities in southern Africa and expects to list on the Namibian exchange later this month.

* During August, United Reef (TSE) reports that 200 diamonds, with a combined weight of 72.62 carats, were recovered from the pilot plant on its Bamingui-Bangoran diamond project in the Central African Republic. Of the stones recovered, 34 were larger than 0.5 carats and 10 were larger than 1 carat, with the largest being 2.62 carats. The company estimates that 84% of the diamonds recovered were of gem quality.

The total number of stones recovered now exceeds 1,000, with a combined weight of about 420 carats. The entire parcel of diamonds will be evaluated in Europe later this month.

Management believes the pilot plant’s processing capacity will improve by late September, with the end of the rainy season and the addition of a new generator.

* Having successfully completed a preliminary exploration program on its 445-sq.-km holdings along the Lobaye River in the Central African Republic, Radisson Mining Resources (ME) has applied for an exploration permit to carry out detailed investigations.

The initial program inventoried more than 50 artisanal sites along the river or its tributaries. In addition, satellite imagery (Landsat) studies, coupled with ground surveys, identified several areas with potential for hosting diamond-bearing alluvial deposits.

A first-priority area, containing sufficient gravels to supply a plant with hourly capacity of 20 cubic metres for one year, has been outlined on the property. Radisson estimates $3.5 million will be needed in the first year to build and operate a plant to process material from this area. The company is evaluating financing options.

* A drill program is scheduled to begin shortly on Botswana Diamondfields’ (VSE) Mopipi licences in Botswana. The drilling will test several magnetic anomalies with coincident indicator mineral signatures.

The company anticipates that 60 of 150 potential kimberlite anomalies will be tested during the current program.

Botswana Diamondfields has also applied for additional prospecting licences in Botswana.