DIAMOND PAGE — Dia Met, partners scour Greenland for diamonds

Dia Met Minerals (DMM-T) and its partners are hot on the trail of diamonds in Greenland.

Since June, joint-venture partners Dia Met, Canadian Mountain Minerals (CYM-A) and private Australian firm Quadrant Resources have flown 15,500 line km of magnetometer and electromagnetic (EM) surveys on their claims in western Greenland. Those claims surround claims that Dia Met shares with Monopros, the Canadian subsidiary of De Beers Consolidated Mines (DBRS-Q) and on which diamond indicator minerals have been discovered.

Results from preliminary magnetic surveys revealed more than 100 circular magnetic anomalies. Preliminary low-density, heavy-mineral sampling will attempt to determine whether those anomalies are caused by diamond bearing kimberlite pipes. Pending favorable results, the anomalies could be drilled early in 1998.

At least 1,400 heavy-mineral reconnaissance samples, weighing about 12 kg, and 250 magnetic anomaly follow-up samples have been collected. An additional 125 samples have yet to be collected.

Also, the partners plan to sample 14 kimberlite occurrences mapped by the Geological Survey of Denmark, as well as test rocks already collected for diamond and diamond indicator minerals.

By spending $1.9 million on the project in 1997 and a similar amount in 1998,

Dia Met and Canadian Mountain can earn from Quadrant a combined interest of 51% in the claims. The chairman of both Dia Met and Canadian Mountain is geologist Charles Fipke, who made the discovery that triggered the diamond rush in the Northwest Territories.

In the meantime, Monopros reports that airborne magnetic and EM surveys over 3,336 line km have been completed and that 804 heavy mineral samples have been collected on the claims it shares with Dia Met. The company also reports that glacial and geologic mapping, as well as prospecting, were completed between June and September.

The company detected several geophysical anomalies, some of which occur in lakes up-ice from kimberlite boulder trains. At least 200 kimberlite float occurrences and four outcropping kimberlite dykes were discovered. Rock from one of those dykes tested positive for diamonds.