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Metalex and Arctic Star commission a 200 tonne bulk sample from the T1 diamondiferous pipe in Northern Ontario
Metalex and Arctic Star commission a 200 tonne bulk sample from the T1 diamondiferous pipe in Northern Ontario.
About this update from Metalex Ventures Ltd.
[{"type":"text","content":"\n\n\n\n\nLOWNA, BC, Jan. 18 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture\nExchange)(\"Metalex\" or the \"Company\").\nMetalex and Arctic Star Diamond Corp (ADD - TSX Venture Exchange)(\"Arctic\nStar\") have commissioned the collection and processing of a 200-tonne bulk\nsample from the T1 diamondiferous pipe at the Kyle Project in Northern\nOntario. The purpose of the bulk sample is to determine the likely diamond\ngrade and indicative diamond values of T1.\nThe high proportion (65%) of pristine white micro and macrodiamonds\nrecovered in T1 from a 1573 kg minibulk sample (see press release dated\nNovember 3, 2005) appear similar in colour to a 243.52 carat parcel of\ncommercial size diamonds recovered from the Victor kimberlite, 80 km east of\nT1 and exhibited at the Prospectors and Developers Association of Canada by De\nBeers Canada in March, 2005. If the quality of the T1 diamonds obtained so far\nare representative of those that would be obtained in a production situation,\nthen the value of the T1 diamonds might be similar to the Victor diamonds at\nUS$300 - $400/ct. Currently the Victor diamonds are thought to have the\nhighest average price (\"run of mine\") for kimberlite diamonds in the world.\nIn addition to a favourable size distribution of the diamonds as well as\nfavourable numbers of pristine diamonds recovered from T1, the chemical\ncompositions of diamond indicator minerals, including diamond stability field\nchromites, olivines, G10 garnets and chrome diopsides, are similar to the\nchemical compositions of the same minerals found in commercial kimberlites.\nThe G10 garnets include seven G10-9's and a G10-10. These are the very best of\nthe G10 garnets and, according to geologist Charles Fipke, occur in\nperidotitic kimberlite pipes containing high diamond grades. These are\nfavourable factors and lead the directors of Metalex and Arctic Star to\ncommission the 200 tonne sample, which is the minimum size necessary to\ndetermine the grade of production diamonds and their indicative value. Should\npotentially commercial diamond grades and values be found from the bulk sample\nthen additional delineation drilling and further sampling will be carried out\nas part of a staged evaluation program which may lead to mine feasibility\nstudies.\nThe bulk sample will be collected using a large diameter (8.75 inches)\nhe...