is this the next argyle?

For the investors who like to include a speculative stock in their portfolio I would like to suggest they do some research on United Kimberly Diamonds (UKD).

I have been following this stock as I am a shareholder and also a shareholder in Thundelarra who have about 20% of UKD.

UKD have made two ASX releases these past couple of weeks which may result in a significant outcome. These reports were on the 28 July and the 3rd of August. If you are interested I would suggest you have a good read. I will summarise my thoughts on these releases.

In the UKD prospectus on the 22October 2004, the Saw Range Diamond prospect only received a brief summary, basically saying they have found an abundant of indicator minerals and no source of where these have come from. At the time I thought these indicator minerals could have been transported from the Agryle Diamond Mine.

After the recent announcements I have found that this is probably highly unlikely as the prospect is about 140kms North West of Argyle.

If you look at the 3 August release the author states :

These kimberlite dykes and blow have now shown themselves to have significant extent, they have been extensively sampled and will be laboratory tested for micro diamonds and indicator minerals which will give an indication as to their commercial potential.

The discovery of these kimberlite dykes and blow also greatly enhances the prospectivity of two further targets areas at Saw that may host kimberlite pipes. (see figure 1 ) These two target areas have recently been loam and stream sampled and UKD are awaiting these Lab results with considerable interest. This Kimberlite trend also passes through UKD’s Dunham Prospect 20 km to the South West.

In the release UKD have included photos and detailed Geological Maps.

It has been widely speculated that the Argyle Diamond pipe is not an isolated event and that other pipes will been found in this providence. Lets hope this is one of them.

UKD have two other Diamond prospects under vigorous exploration at the moment, these being at Ellendale and the Philips Range area. Both are being drilled.

In my mind UKD is a good punt at these prices.