MINING NEWS: Targets identified at Black Lake diamond project - June 20, 2004

Providing coverage of Alaska and Northwest Canada's mineral industryJune 2004

Vol. 9, No. 25

Week of June 20, 2004

MINING NEWS: Targets identified at Black Lake diamond project

Don Whiteley

Petroleum News contributing writer

Results from a preliminary ground geophysical exploration program on the Black Lake diamond project in the Northwest Territories identified five high priority geophysical targets for drilling, the joint venture operating the project announced June 8.

Kalahari Resources Inc. and joint venture partners SouthernEra Resources Ltd. and Island Arc Mining Corp. said the program tested two kimberlitic indicator mineral trains — North Margaret Lake and South One.

The program has defined five high-priority geophysical targets with bulls-eye magnetic geophysical signatures ranging between 50 to 100 meters in diameter. The five targets will be ground checked and sampled during July followed by drill testing of targets that return positive results from the follow-up program.

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