News! Spider/KWG A new kimberlite pipe has been found on the property immediately to the West of the Waseco property! This is in an area that the company is currently investigating:
Spider, KWG put faith in Good Friday kimberlite
2004-04-12 09:21 ET - News Release
Also News Release (C-KWG) KWG Resources Inc (2)
Mr. Bryan Wilson of Spider reports
SPIDER RESOURCES INC.: NEW KIMBERLITE DISCOVERED 8 KILOMETERS NORTH OF PROPOSED VICTOR DIAMOND MINE
Spider and joint venture partner KWG have discovered a new kimberlite pipe on their McFadyen property located in the Attawapiskat kimberlite cluster, 100 kilometres west of Attawapiskat, Ont., in the James Bay Lowlands. On Good Friday 129.5 metres of kimberlite were intersected in a drill hole located eight kilometres north of the Victor mine project, a much-anticipated new diamond mine expected to be officially announced later this year. This new kimberlite is designated as the Good Friday kimberlite.
The first hole of the current program, SPQ-04-01, tested a magnetic target, approximately 100 metres in diameter, located 300 metres northeast of previously discovered (1994) MacFadyen No. 1 kimberlite and 600 metres northeast of the MacFadyen No. 2 kimberlite, all of which are within eight kilometres north of the advanced Victor kimberlite development project of De Beers Canada Exploration and 1.5 kilometres east of De Beers's Tango and Tango Extension kimberlites.
The discovery hole into this new occurrence entered weathered crater facies kimberlite at a vertical depth of 47.5 metres after passing through various layers of glacial till consisting of silt, sand and limestone boulders. After a few metres of crater facies kimberlite, hypabyssal facies kimberlite was encountered. This facies shows a bimodal distribution of olivine, the larger of which contain chrome diopside. Occasional corroded orange pyrope garnets have been observed. Xenolithic fragments, pyrope garnets and the larger olivine macrocrysts have a very distinct reaction rim seen in other diamond bearing kimberlites in the region.
The vertical hole remained in hypabyssal kimberlite for 129.5 metres until 177 metres, when it entered the sedimentary rocks, and it was stopped at 189 metres.
Additional holes are currently planned in the immediate area of this new occurrence to test other newly detected kimberlite targets. Furthermore, a 250-metre-deep magnetic linear feature traceable for seven kilometres within the joint venture property will be tested during this drill program. This deep linear magnetic feature has been interpreted as a possible kimberlite filled fissure or dike.
The Good Friday pipe is in an area of two known kimberlite pipes named after one of the diamond exploration pioneers of this decade-long exploration project, Donald A. MacFadyen. In 1992 Mr. MacFadyen conceptualized this very successful diamond exploration project that has resulted in the discovery of eight kimberlites in the James Bay Lowlands of Ontario. De Beers Canada Exploration Inc. and the Canabrava-Navigator joint venture have discovered other kimberlites in this area.
The selection of these new drill targets has involved a very detailed interpretation of several different periods of acquisition of ground and airborne magnetic data, followed by the reprocessing of the accumulated geophysical data sets with a proprietary technique that enhanced selected features. These features were modelled, reviewed and prioritized as drill targets. Neil Novak, PGeo, worked closely with Scott Hogg (PEng) and Steve Munro (BSc) of SHA Geophysics Inc. to reanalyze and reprocess the old magnetic data over the past few years, which has culminated in another technical success for this exploration trio.
Additional ground magnetic survey data were acquired last summer. This final magnetic survey was used for locating drill sites for the current drill program which is under the field supervision of an independent qualified person, Roger Thomas (MSc, PEng, PGeo). Mr. Thomas will be logging the drill core and selecting the samples for diamond content processing and will be personally delivered by project manager Neil Novak, PGeo, to a diamond recovery laboratory for a complete diamond content analysis using caustic dissolution.