Alkane Inc (ALKN)

[Shaun Spelliscy]

Normally at this stage of an exploration play the following would happen if there were encouraging assays to back it up.

1) Geophysics to fully understand the magnetic properties of the target. The geophysics we did was simply to verify the airborne target was in the right place.

2) Full petrographic analysis of the lamprophyre.

3) More drilling to see if the target intersected was indeed part of the main anomaly or was perhaps a lamprophyre dyke intruding into a pipe target.

There is enough core left from the Shire to determine if there is diamond or not and the SRC can turn that around in a few weeks.

There are a lot of misconceptions about diamond bearing rock. Most think of kimberlite as a rock that commonly contains diamond and you will see that definition in many geology text-books. Sadly only 130 of the 2000 known kimberlites world-wide contain macro-diamond so it really is a rock that rarely contains diamond and there is only one instance of a non-kimberlite being economic and that is the Argyle Mine in Australia which is a lamproite.

23 of the known macro-diamond bearing kimberlites known in the world are located in the Fort a la Corne district of Saskatchewan.