The newly discovered Contwoyto-1 kimberlite in the Greater Jericho area of the Northwest Territories has yielded encouraging diamond counts for partners
From caustic fusion analysis of 90.2-kg sample of core, 169 stones were recovered. Twenty-six of the diamonds measure greater than 0.5 mm in one direction, 12 exceed 0.5 mm in two dimensions, and one stone measures greater than 1 mm in two dimensions. The diamonds were recovered using a square mesh with 150-micron openings as the bottom cutoff size.
The Contwoyto-1 kimberlite was discovered earlier this fall, 30 km east of the original Jericho pipes in the vicinity of an indicator mineral train where diamondiferous kimberlite float was found. About 180 kg of kimberlite material were collected from an area measuring 575 metres long by 75 metres wide. Caustic fusion analysis of 48.7 kg of float material yielded 123 diamonds above a 0.15-mm (100-mesh) cutoff. Seven of the stones were larger than 0.5 mm in two directions.
Contwoyto-1 is believed to be a partial source of the diamondiferous float recovered in the area.
The Jericho project, a 50-50 joint-venture between Lytton and New Indigo, comprises a 684,000-acre land package 400 km northeast of Yellowknife and north of the Lupin gold mine.
Follow-up ground geophysics is planned, leading to a exploration drilling and delineation of Contwoyto-1.
Lytton recently settled all litigation brought against the company, certain associated companies and certain former directors. At the recent annual meeting, new directors were elected to replace Desmond Alexander, Harry Dobson and Michael Stoner, who resigned from the board. Robert Dickson, Howard Miller, Paul Carroll, Patrick Lavelle and Robert Watts were elected as directors, while John Kearney and Ray Davies were both re-elected.
Dickson was appointed non-executive chairman and Miller was appointed president and chief executive officer, replacing Alexander who also resigned from his position as president and CEO.
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