Global Minerals Ltd. has granted an option to earn an 80-per-cent interest in its Jen claim block located in the Northwest Territories of Canada. The optionor is Mantle Diamonds Ltd. of Hertfordshire, England, United Kingdom.
Under the terms of the option agreement , Mantle Diamonds Ltd. can earn an 80-per-cent interest in the property from the company by incurring or financing expenditures of not less than a total of $5-million as follows:
The Jen claim block area is 25 kilometres northeast of Yellowknife, Northwest Territories, Canada. The claim group is located in the Prosperous - Prelude Lake area which is partially accessible by way of highway 4 (Ingraham Trail) northeast from Yellowknife.
Prior work has been directed to an oval-shaped anomaly at the top of a low hill in the northeastern corner of the Jen 1 claim. Similar topographic features elsewhere in the Northwest Territories are indicators of underlying, recessive kimberlite pipes.
A prospecting/till sampling program included the collection of 10 till samples both down-ice (west-southwest) from the small lake and from drainages emanating from the lake itself. Five samples, submitted to Loring Laboratories Ltd. for microprobe analyses, were found to contain potential indicator minerals for diamonds, including several varieties of garnet, ilmenite and pyroxene.
A geophysical survey, carried out over a grid centered on the small lake, consisted of magnetometer and maximum-minimum electromagnetic readings at 12.5-metre stations along 25-to-50-metre-spaced grid lines. Total field magnetics disclosed the presence of a 300-by-250-metre, northwest-oriented magnetic low, which is crudely coincident with the lake.
A 10-hole drilling program is planned this spring to test the lake bottom for the presence of kimberlitic material. If the presence of kimberlite is confirmed, the drilling program will be expanded to determine the approximate size of the structure and to collect adequate samples for diamond analysis.
Registered Office:
Maple House, High Street, Potters Bar,
Hertfordshire EN6 5BS, England (UK)
Tel: 01707 828788
Fax: 01707 895957
E-mail: info@mantlediamonds.com
