- 104 mineral claims
- 100% owned by Metalex (Kel-Ex Development Ltd holds a 10% free carried interest).
- The region seems exceptionally fertile for diamond mineralization with commercial grade kimberlites being found in several areas (Victor, Renard)
- In 2006, a 28,620 line kilometer airborne geophysical survey was flown which identified 34 targets which were then staked.
- Priority targets were drill-tested resulting in the discovery of three new kimberlites (referred to U1, U2 and U2NW).
- 12 NQ inclined delineation holes have been completed to date
- 450 ton bulk sample collected to test for economic quantities and qualities of diamonds.
INFORMATION ABOUT U2
- Approx 9.3 hectares (24 acres) in size
- Second largest diamond bearing kimberlite discovery in northern Ontario.
- Initial core drilling of U2 yielded 17 diamonds from a 142.3 kg sample. The diamonds have a course size distribution and are predominantly gem quality similar to those recovered from DeBeers’ Victor Mine.
BULK SAMPLE RESULTS
- Processing of the 11 bulk sample holes has been completed. The size distribution of the U2 diamonds is very coarse with a high proportion of the diamonds being in the large size categories. This is important for a high average carat value.
- The following table contains the size distribution of the diamonds recovered:
- The 86 largest (+1.7mm) diamonds totaled 15.95 carats with 73 of the diamonds classified as white, six as brown, five as grey and two as colored (yellow and pinkish brown). This equates to 88.8% white, 7.3% brown, 2.8% grey and 1.1% colored by weight.
- The two largest diamonds (2.61 and 1.25 carats) recovered from U2 will cut as high quality white gems.
- Below are pictures of some of the diamonds recovered to date including the 2.61, 1.25 and 0.72 carat stones:
Based on the high proportion of gem quality diamonds, the large size of the U2 kimberlite and the diamond grades, the U2 kimberlite merits the collection of a 10,000 ton bulk sample so that at least 1,000 carats of diamonds can be recovered for assessment. A large diamond parcel is necessary to accurately define the diamond grade and average value per carat.