Tandem options diamond find

A previously unreported diamond discovery in northern Ontario has been optioned by Tandem Resources (ME).

Tandem, which has not divulged the exact location of the property, says the kimberlite find was made several years ago by a major company drilling for gold.

Encountered in three holes spaced 2,600 ft. apart, the kimberlite contains G-10 garnets, chrome diopside and ilmenite, all indicator minerals for diamonds. One small sample yielded a microdiamond described as a “clear white, near gem quality, distorted octahedral interpenetrant twin.” Under an agreement with the major, Tandem can earn a 50% interest in the property by spending $1 million over four years and making cash payments of $125,000. It may earn up to 80% by spending another $1 million and paying $100,000 over a further two years.