Business
Goldstake: Diamond Hunt, Update
Goldstake: Diamond Hunt, Update.
About this update from Greenridge Exploration Inc
[{"type":"text","content":"\n\n\n\nTORONTO, April 11 /CNW/ - Goldstake Explorations Inc. (TSX Symbol GXP) is\npleased to announce it has received an independent National Instrument (NI)\n43-101 report encouraging further diamond exploration on the McGarry Property\nlocated in the Kirkland Lake - Larder Lake region of Ontario. The report was\nprepared by Mr. Robert Dillman, P.Geo. who is acting as the "Qualified Person"\non the project and is responsible for the material in this update. Goldstake\nis focused on exploring for the source of hundreds of kimberlite indicator\nminerals found in till samples collected in a small area of the property. In\naddition to the good concentrations of pyrope garnet, chrome diopside,\nchromite and picroilmenite, much of the McGarry Property kimberlite mineral\nanomaly is composed of large grains of 'fresh' fosterite olivine which are\nbelieved to be derived from one or more local kimberlite sources. Grain\nchemistries of some of the kimberlite minerals which have been determined by\nextensive electron microprobe analyses overlap those known to occur with\ndiamond. The results suggest the kimberlite source may contain diamond as\nwell.\n\n\nA drill program planned this past winter to test two adjacent pipe-like\nmagnetic features was temporarily suspended in light of some new information\nwhich arose concerning glacial ice-directions and the orientation of the\nkimberlite mineral anomaly with respect to the two adjacent pipe-like\nfeatures. A decision was made to delay the drill program to provide time to\nevaluate the kimberlite potential of several unexplored areas of the property\nsituated close to the kimberlite mineral anomaly but considered to have poor\nor insufficient ground magnetic coverage for proper kimberlite evaluation.\nDelaying the drill program will also provide time to evaluate the unexplored\nsections of the property with additional till sampling using new information\nconcerning past ice-flows over the region.\n\n\nAs a result, Goldstake has recently completed a series of high definition\n- detailed ground magnetic surveys over a group of small lakes and ponds\nsituated close to the kimberlite mineral anomaly and has focused work on\ndefinition of several historic magnetic features including the two adjacent\npipe-like features which were to be drilled this past winter. Compilation of\nthe new...