Winspear encouraged by bulk-sampling results on dyke

A surface bulk-sampling program on a shallow-dipping diamondiferous kimberlite dyke at the Camsell Lake property in the Northwest Territories has yielded a significant number of large “gem-quality” stones.

Winspear Resources (WSP-V) has recovered 228.9 carats of diamonds from a 199.7-tonne mini-bulk sample of the dyke, for a grade of 1.14 carats per tonne. A slotted screen measuring 1 by 0.9 mm was used as the cutoff size in the processing procedure, which is equivalent to a square mesh cutoff of 1.2 mm.

The three largest stones recovered weigh 10.87, 8.43 and 6.03 carats. All are described by Winspear as gem-quality. In addition, 18 of the diamonds weigh more than 1 carat.

In a recent report, David James, a mining analyst with Canaccord Capital, writes: “We believe the BHP-Dia Met joint venture may have run across a 20-plus carat stone, Aber et al., something just under 10 carats, Tli Kwi Cho, an 11-carat black specimen, and so on, but from a small sample, this may be one of the most interesting parcels described to date.” The kimberlite dyke is found on a peninsula jutting into the northwestern part of Snap Lake. Winspear collected the mini-bulk sample from two surface pits, set 235 metres apart. Winspear says there is no significant difference in the diamond populations of the two samples. The dyke has been intersected by previous drilling over a strike length of 1,000 metres and a downdip length of 500 metres. Its true thickness averages 2.47 metres.

The downdip nature of the dyke was further tested during the 1998 winter program by two holes, which intersected kimberlite dyke material some 1,100 metres east of the most easterly drilled hole in 1997.

Before proceeding to the next step of exploration on this dyke, Winspear is awaiting completion of an initial evaluation of the stones.

Snap Lake, along with CL-25 areas, comprises part of the Haywood project, which is held 57.3% by Winspear. Aber Resources (ABZ-T) holds the balance.

Upon completing the 1998 budgeted expenditures of $2.7 million, Winspear will have increased to 68% its interest in the project.