johnluke I don't quite recall the percentages
So many PR's ago it is out there though 30% CMKX interest rings a bell , don't quote me please...but they are out there more importantly however you might want to brush up on their potential. KPG apparently has gold property in La Ronge North Saskatchewan UCA has a wide assortment of mineral interests gold uranium and nickel I understand are a few I'm sure UCA has more. I found this very interesting and educational on our partners and how it could pertain to CMKX.
Saskatchewan Diamond Property
In January 2000, United Carina Resources Corp. and Consolidated Pine Channel Gold Corp., jointly acquired ground in the Saskatchewan Diamond Belt, in and around the Fort a la Corne Kimberlite Field, near Prince Albert, Saskatchewan, and are exploring the potential of these properties to host diamondiferous kimberlite bodies. Additional ground (over 100,000 acres) has, since then, been acquired in this area, which contains the largest known kimberlite field in the world.
The diamond prospect properties were staked after a lengthy review of both published and unpublished historical work. They will be evaluated along with any other opportunities that become available, using newly developed exploration concepts. Airborne and ground geophysical programs have now been completed on a number of the properties.
This work included a high resolution aeromagnetic survey on nine separate blocks of ground comprising some 60,000 acres and a detailed gravity survey on the Smeaton project, which occurs north of the Fort a la Corne kimberlites and along the same northwest structural trend as the Snowden kimberlite cluster.
Evaluation of the remainder of the 225 claims contained in some 30 blocks will continue. Flying of a high resolution aeromagnetic survey has been completed over the Companies' "Diamond Lady" block of claims, which occur contiguous to the Shore Gold Inc. property, and on claims contiguous to the blocks on which De Beers, Kensington and joint venture partners have completed a 24" reverse circulation drill bulk sampling program. This evaluation process is being conducted to identify drill targets to further the Companies' exploration for diamonds in Saskatchewan.
United Carina and Pine Channel have granted an option whereby Shane Resources Ltd. can earn up to a 50% interest in four mineral claims contained within the Companies' Smeaton Diamond Properties. The interest may be earned by Shane issuing 100,000 shares and contributing an aggregate $900,000 in funding for exploration of the claims over three years. During the first year, a minimum of $250,000 must be contributed to earn a 15% interest. A further $250,000 must be contributed in the second year to earn an aggregate 30% interest and, in the final year, a further contribution of $400,000 will bring Shane's interest in the claims up to 50%. The Companies, or one of them, will act as operator during the earn-in period, and the project will be directed by a management committee comprised of a representative of each party.
The Smeaton Diamond Properties were staked on the basis of information indicating that the Saskatchewan Diamond Syndicate had intersected a 90 m section of kimberlite while drilling in 1996. From all of the information available, very little follow up work or sampling was carried out on the properties, leaving much more room for further investigation.
A gravity survey has been completed over the properties and modeling completed by the Companies' geophysicist, as well as by a major mining company, indicate that weak positive gravity response could be defining kimberlite bodies at depth. The minimal or non-magnetic signature drill targets identified by the survey were interpreted as very encouraging by the Companies' geological consultants. Within the Fort a La Corne Kimberlite Fields, gravity surveys have been utilized by the Cameco/Kensington/Monopros joint venture to identify the thicker portions of some of the larger kimberlite bodies.
A four hole drilling program comprising 713 m, was recently completed on the properties to delineate kimberlitic bodies identified from the gravity survey. The drilling was contracted to Major Midwest Drilling, utilizing "H" size drill core. All four holes, including one shallow overburden hole, were targeted largely on gravity anomalies. The three holes that cored bedrock, successfully intersected up to several metres of subaqueous fragmental and marine worked kimberlite, intercalated with fine grained sediments. Samples are currently being processed and analyzed for indicator minerals and microdiamonds. Results are pending.
In a related event, the Companies and Shane Resources Ltd. (one-third each) have acquired properties immediately west of, and adjoining, claims containing kimberlite body 122. Kimberlite 122 is one of the highest priority targets in the Fort a la Corne kimberlite field. It is owned by DeBeers/Kensington/Cameco and was chosen for a recently completed mini-bulk sampling program because of its immense size (264 acres, 108 ha) and its potential for large stones. The largest stone recovered to date from kimberlite 122 weighed in at 0.76 carats. The Companies are encouraged because historical geophysical surveys strongly suggest that portions of kimberlite 122 extend westwards onto the newly acquired ground. Furthermore, a separate mutually exclusive target, is also evident on the property.
Kensington Resources Ltd. announced that kimberlite body #122 is estimated to contain in excess of 540 million tonnes of kimberlite. It also reported the successful completion of the first part of a two part drill program, which confirmed the nature of the diamond size frequency in kimberlite body #122. The second part of their program will be to recover enough stones to allow preliminary revenue modeling to be done.
An option has been granted to First Labrador Acquisitions Inc. whereby First Labrador can earn an interest of up to 50% in mineral claims S-134454 and S-134455 by completing a $300,000 work program on the property, or by making payment of that amount. United Carina, Pine Channel, Shane Resources and First Labrador will attempt to determine to what extent kimberlite body #122 extends onto the property, and whether the property contains other kimberlites.
Ground geophysical surveys are now underway on the newly acquired properties located west of kimberlite 122, as well as on several other properties in the Fort a la Corne area.
Over seventy in-situ diamondiferous kimberlite pipes have been identified in this part of central Saskatchewan. Furthermore, numerous aeromagnetic anomalies which could be attributed to kimberlites have yet to be fully evaluated. The Companies feel that exploration in the Saskatchewan diamond belt is still at a relatively early stage and that there is an excellent potential of identifying economically viable diamond deposits in this part of Central Saskatchewan, and will continue to aggressively pursue the same.
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Best....Rich
