AGM ------ Part 4 (Final)AGM ------ Part 4 (Final)
In the last few updates I talked about the official AGM meeting, current status, questions, and now its time to share my notes on what’s next for Iciena.
I will start by touching on the director Roy Shatzko. It was mentioned; Roy has been off for several months due to personal health related reasons. Roy has always been the main “go to guy” as it relates to administrative and day-to-day business affairs. Roy’s absence has left some large operational shoes to be filled and the directors acknowledged this important fact. They indicated this void was under review and that the re-elected directors would review the situation and implement the necessary corrective actions. Their first choice and hopes are that Roy can return to active duty. Reading between the lines, I walked away believing that some form of management strengthening was in the cards and that we could hear something on this subject relatively soon?
Iciena recently completed an airborne magnetic and electromagnetic (VTEM) geophysical survey on Paranatinga diamond property in Brazil. The survey consisted of over 7,700 line kilometres with a line spacing of 100 metres and the initial processing of the geophysical data identified 29 high-priority kimberlite targets, which exhibited both a magnetic and conductive response.
I understand that there has been extensive work done on these properties in the past that needs to be incorporated or overlaid onto the new Survey. I took this discussion to mean they will take the recent modern survey data (see below) and incorporate “Fipkes” past groundwork to narrow down or prioritize drilling targets. Remember the survey data was a million dollars in scope.
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One might ask what previous work Fipke did on the property…. I went back through all the past news releases – and put together some of the work that was performed by Fipke but tightly guarded and never released. This is what I found:
“Heavy mineral samples have been collected to follow up on previously discovered diamond indicator grains and to provide full sample coverage of the claim block.”
“One hundred forty-seven heavy mineral samples have already arrived at C.F. Mineral Research and the results are expected shortly.”
“In addition, samples from 15 known kimberlite pipes located on the property have been collected and sent to C.F. Minerals for processing.”
“These 100-kilogram to 300-kilogram samples are mostly from unsampled or insufficiently sampled kimberlites and will be analyzed for indicator minerals and diamonds.”
One can see there is a fair amount of results still pending to be disseminated and with Fipke's data incorporated into the recent airborne survey could make for some highly reasonable or great speculative targets to drill.
One needs to remember its still wildcat drilling and highly speculative but they have a seasoned operator, the most modern airborne survey available and years of Chuck Fipke crawling around sampling creek beds, and filling sample bags as he secretly worked the claims in quest of the indicator trail. My guess is he also did a lot of further work on his own.
In Conclusion:
The AGM was PLEASANTLY uneventful by SURPRISE and all motions passed.
The property agreement conditions are being removed; one more signature to obtain and the claims get transferred to Iciena.
A review or discussions are taking place on Management strengthening and as a result we could see some re-organization.
Fipke is putting the final touches to the targets to drill and maybe will finally see some of the results that he has tightly guarded all these years.
And finally, and most importantly the long awaited (drum roll please) announcement of the drill program commencement.
A major milestone – believe me when I say, it’s taken 6 long years to get to this point but with managements persistence towards "the Fipke patience" we finally get to see some drills turning on the property. I for one am very excited to see the airborne survey amalgamated with C F minerals proprietary sampling technology being used. Chuck Fipke is identifing the upcoming drill targets and were finally going to get be to see some DRILL results from all these years of secretive efforts.
Can Chuck Fipke add another Diamond discovery to his long list of accomplishments?
AGM Final Regards,
Tommer3
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