The company has 4 projects in Finland.
In January 2008 the company signed a Joint Venture (JV) Agreement with Kopane Diamond Developments Plc (formerly European Diamonds Plc). The JV allows Mantle to earn a 70% in Kopane’s Finnish assets, which includes the 1.8 hectare Lahtojoki kimberlite pipe. Mantle Diamonds has completed a positive Scoping Study Report on the project and is now embarking on a full feasibility study of the pipe. During the first quarter of 2008 Mantle completed a diamond drilling programme into the Lahtojoki kimberlite pipe comprising 11 shallow angled holes totalling 495m. This programme was carried out to provide a better understanding of the surface outline of the kimberlite beneath the till cover. During this period an environmental permit was obtained to carry out a bulk sampling programme at Lahtojoki. In order to expose sufficient kimberlite for the bulk sample a significant amount of overburden till was stripped. A detailed design was generated following geotechnical and pit mining consultancy studies carried out Golder Associates and AMC Consultants. During the second quarter of 2008 Mantle signed an agreement with Hartikainen Oy, an experienced surface mining contractor to commence stripping work at Lahtojoki. To date over 50,000m³ of overburden till has been stripped over Lahtojoki. Mantle plans to collect approximately 5,000 tonnes of representative kimberlite sample from surface trenching and a large diameter Kelly Bar Bauer drill rig during the early half of 2009. After processing this material, the company will have a sufficiently large enough parcel of stones to evaluate and calculate an average price per carat. This figure will feed directly into our economic model and determine whether the pipe is viable to become a working mine. If it does, the Lahtojoki pipe will become the first diamond mine in Western Europe.
Lahtojoki Pipe
In 2006, the company acquired 2000 km² of reservation ground between Kaavi – Nurmes. Initial reconnaissance till sampling has been completed with numerous kimberlite indicator minerals (mantle derived garnets, chrome diopsides and chromites) recovered. In line with Finnish Mining Law, this ground has since been abandoned and the areas with positive samples covered by claims. Further work is ongoing to determine the hard rock sources of these anomalies.
In 2006, approximately 500 km² of reservation ground was granted in the Kuusamo — Ruka region of northeastern Finland. Preliminary reconnaissance till sampling over the area as well as down ice of at least 9 aeromagnetic anomalies resulted in the recovery of anomalous mantled derived garnets, ilmenites, chrome diopsides and spinels. In line with Finnish Mining Law, this ground has since lapsed, and the areas reporting anomalous kimberlite indicator minerals (KIM’s) covered by claims. Ground geophysics (magnetics) has also been completed over some of the aeromagnetic anomalies that are thought to be responsible for shedding these KIM’s. The geophysics will allow the company to site the location of drill collars ready for a drill program.
On the 13th October 2006, the company announced an asset purchase agreement with Gondwana (Investments) SA, a private diamond exploration company owned by a private mining entrepreneur. The agreement covers Gondwana’s 6 claims (Silmasuo 1 – 6) in the Kuopio – Kaavi kimberlite field of Central Finland. The Gondwana claims border European Diamond plc’s Pipe 7 claims on 3 sides. Extensive glacial till sampling work has been completed by Gondwana with a large number of Mantle derived indicator minerals recovered including kimberlite fragments (yet to be independently verified by Mantle). Mantle has completed a small drill program on the property but has been unsuccessful in intersecting kimberlite. Nevertheless, the company believes that undiscovered kimberlite pipes exist on the property, and work is on-going to locate them.
