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| April 17, 2014 --- Vol. 08, No. 16 | April 2014
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Northwest Territories
DIAMONDS – Dominion Diamond Corp. April 15 reported that during the first calendar quarter of 2014, the Diavik Diamond Mine produced (on a 100 percent basis) 1.9 million carats from 600,000 metric tons of ore processed compared to 1.9 million carats from 500,000 metric tons of ore processed in the comparable quarter of the prior year. Processing volumes in the first quarter of 2014 were 17 percent higher compared to the same quarter of the prior year as a result of continuing improvements in mining rates as the underground ramp up progressed to full production from all three kimberlite pipes. Carat production fell 4 percent during the first quarter compared with the same period a year earlier, primarily due to mining and processing a greater proportion of the lower grade A-154 North ore. Dominion said the mine plan for calendar 2014 foresees the Diavik Diamond Mine producing 6.1 million carats from the mining and processing of about 1.9 million metric tons of ore. Mining activities will be exclusively underground with roughly 700,000 metric tons expected to be sourced from A-154 North, 400,000 metric tons from A-154 South and 800,000 metric tons from A-418 kimberlite pipes. In addition to the 6.1 million carats produced from underground mining, there will be production from coarse ore rejects and production from the improved recovery of small diamonds. This additional production is not included in the company’s ore reserves, and is therefore incremental.
GOLD – TerraX Minerals Inc. April 11 reported the completion of a four-hole (1,000 meters) drill program at the Homer Lake target of its Northbelt property and has mobilized the drill to the Barney Shear which is the extension of the Con Mine/Giant Mine shear system that has hosted more than 13 million ounces of gold production. The Barney Shear is one of TerraX’s primary gold targets on the Northbelt property, part of the Yellowknife City gold project in the Northwest Territories. Drilling is still underway with a second drill at the nearby Crestaurum gold deposit. Drilling at Homer Lake, which began on Mar. 25, targeted a buried conductor identified by airborne surveys conducted in 2013. This target area was within 500 meters of a previously established ice road which made winter access easier and allowed this drill program to be completed quickly with less environmental impact than would have been the case with overland access in summer conditions. Logging and sampling of drill core from Homer Lake is currently underway with assay results pending.
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