Indicator Minerals Announces Diamond Results From NQN-001 Kimberlite
2010年11月15日 - 10:30PM
Marketwired
Indicator Minerals Inc. (TSX VENTURE: IME) today announced that it
has received diamond results from an initial sample of the NQN-001
kimberlite located on the Nanuq North Diamond Project in Nunavut
Territory, Canada.
The 1,008 kilogram sample from the NQN-001 kimberlite yielded
612 diamonds larger than 0.075 mm. The two largest stones measured
1.00 x 0.84 x 0.64 mm and 0.68 x 0.68 x 0.46 mm and both were
described by the Saskatchewan Research Council Geoanalytical
Laboratories ("SRC") as having an off-white color with inclusions.
The sample was composed of rock taken at regular intervals from all
six core holes drilled in 2010. The following table summarizes the
caustic fusion diamond results from the SRC.
NQN-001 Caustic Fusion Diamond Results
----------------------------------------------------------------------------
Number
Square Mesh Screen Size (in mm) Number of
----------------------------------------- of Diamonds
Sample Weight 0.075 0.106 0.150 0.212 0.300 0.425 0.600 Diamonds per kg
----------------------------------------------------------------------------
1,008kg 196 186 117 64 34 13 2 612 0.61
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More than 3 tons of kimberlite material obtained from NQN-001
remain untested. Indicator believes that processing the remaining
kimberlite for commercial size stones is warranted. This can be
achieved using the low cost technique of Dense Media Separation.
Also, kimberlite indicator mineral results from 96 till samples
collected at Nanuq North in 2010 are pending. Once all of the
results from the 2010 program have been received, an exploration
programme will be formulated for 2011 that may include the drilling
of high priority targets.
Exploration expenditures on the 33,100 hectare Nanuq North
property are currently funded on a 50/50 basis by Indicator and
Peregrine Diamonds Ltd. Indicator is operator of the project. More
information on the Nanuq North Project is available on our website
www.indicatorminerals.com.
The SRC is an independent laboratory that is accredited by the
Standards Council of Canada to the ISO/IEC Guide 25 standard for
diamond recovery by caustic fusion. After collection in the field,
the NQN-001 drill core was shipped to Vancouver where it was logged
and sampled under the supervision of senior Indicator personnel.
The samples were then sealed in secure containers and shipped to
the SRC under strict chain of custody protocols.
Mr. Bruce Counts, P.Geoph., President & CEO of Indicator, is
a Qualified Person under NI 43-101 and is responsible for the
design and execution of the programs carried out by Indicator on
the Nanuq North property.
About Indicator Minerals:
Indicator Minerals Inc. is a Canadian exploration company
focused on the discovery and development of economic mineral
deposits. Founded in 2004, the Company has assembled one of the
most qualified technical teams in worldwide exploration. Management
has quickly positioned the Company to be a sophisticated player in
both Canadian and international exploration by forming strategic
partnerships, acquiring highly prospective properties and
conducting systematic and efficient exploration programs.
Cautionary Notice: This release may contain forward-looking
statements regarding the Company's business or financial condition,
including the proposed completion of financings, use of proceeds
and exploration programs. Actual results could differ materially
from those described in this news release as a result of factors,
including, but not limited to the following: the timing and
completion of financings, the actual use of proceeds, the timing,
results and success of exploration and development programs,
financial arrangements, the ability to obtain additional financing,
developments in global resource markets, political developments,
the timing of regulatory and environmental approvals and other
factors. The Company cautions that these and similar statements
involve risk and uncertainties, which could cause actual results to
differ materially from those in the forward looking statements.
Forward-looking statements are made in the context of information
available as of the date stated. The Company undertakes no
obligations to update or revise such statements to reflect new
circumstances or unanticipated events as they occur, unless
required by applicable law.
On behalf of the Board
Indicator Minerals Inc.
Bruce Counts, P.Geoph., President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Indicator Minerals Inc. Bruce Counts President &
CEO (604) 331-4605 or Toll Free: 1-877-331-4605 (604) 331-4654
(FAX) www.indicatorminerals.com
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