re: Ann: NAD To Drill Test Extension To Lance...
North Aust Diamonds to test extension to Lancelot area
Sydney - Monday - November 23: (RWE Aust Business News) - North Australian Diamonds Ltd (ASX:NAD) today said it recently identified a new priority indicator mineral and diamond target area situated some 10km from Lancelot.
Loam sampling results for this area included a sample with 33 kimberlitic chromite and a nearby sample with two diamonds, one microdiamond and one 0.95mm irregular.
The company considers this a high-priority target due to the isolated and discrete nature of the sample results. Plans are under way to mobilise a drill rig to test this new priority Lancelot target.
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Meanwhile, the Lancelot drill program is continuing with about half of the selected targets tested to date.
The company is testing a variety of geophysical and geochemical responses associated with a surface indicator mineral and diamond occurrence over 3 sq km.
A total of 45 reverse circulation holes have been drilled to date for 1600m, to a maximum depth of 50m.
A further 35 holes are planned.
Representative samples from selected holes are being sent to the company's laboratory in Perth for indicator mineral and microdiamond analysis
NAD Price at posting:
$1.16 Sentiment: None Disclosure: Not Held
