The Foxtrot Property Diamond Project, North-central Quebec, Advanced Evaluation and Bulk Sampling Update
Exploration efforts by the Ashton Mining of Canada Inc./SOQUEM INC. joint venture have identified 13 kimberlitic bodies on the Foxtrot property in north-central Quebec. Six of the nine bodies in the Renard cluster are situated in a 0.5 square kilometer “Core Area”. In 2004, collection of a 664 tonne bulk sample produced a 460 carat parcel of diamonds with a modeled value of US $88 per carat. Wireframe modeling of Renard 2, 3, 4 and 9, located within the Core Area, suggests the bodies contain over 23 million tonnes of kimberlitic material and 19 million carats of diamonds. In 2006, the joint venture will initiate a program of underground sampling, surface trenching and reverse circulation drilling to collect a bulk sample that is expected to yield at least 6,000 carats of diamonds. An essential component of the program will be establishing a dense media separation test facility on-site. The collection and valuation of a 6,000 carat parcel of diamonds is considered a crucial element of the pre-feasibility study planned for 2007.
Diamond, Exploration, Quebec