EXPLORATION 1999 – SouthernEra readies Yamba Lake for drilling

SouthernEra Resources (SUF-T) has begun a high-resolution airborne magnetic and electromagnetic geophysical survey over the Yamba Lake property, 45 km north of the Ekati mine in the Northwest Territories.

The 8,000-line-km survey will be carried out on a 100-metre line spacing. To date, six kimberlite pipes have been discovered on the property. SouthernEra plans to drill-test the T-10 and Ptarmigan pipes in March, as well as prospective geophysical targets.

Kimberlitic indicator heavy minerals continue to be recovered from more than 1,000 till samples collected last summer. SouthernEra reports having also recovered several pyrope garnets with excellent G-10 chemistry, and that these do not relate to the known kimberlite pipes.

SouthernEra can earn a 51% interest in Yamba Lake from partners Tanqueray Resources (TQY-A) and Mill City International (MIY-V) by spending $10 million on exploration before 2003. Tanqueray and Mill City currently hold a 44.5% interest in each property, whereas Cypango Ventures (CAV-V) holds 11%.