DIOS: drill turning on Pontax

A diamond drilling program is actually being undertaken this week on the Pontax project of DIOS EXPLORATION : the drill is finally turning after the diamond drilling rig has been sitting idle on the property since Christmas time, due to the lack of availability of drilling crews and logistic crews.

The campaign is helicopter-borne and working shift crews generally prefer to work when days and nights are of the same length. Mineral exploration companies have to live with the lack of manpower in the mining industry in general, these days.

Management is pleased to say that the program is now in progress and a few holes will even be added, following new data made available and confirming previous kimberlite indicator mineral dispersal trains. Previous DIOS glacial sediment (till) sampling programs identified quality kimberlite indicator minerals suggestive of very high diamond potential content. The drilling targets are located up-ice of dispersal trains. Regional seismic tomography indicates that the Pontax area is underlain by a very thick and cool continental crust, favourable for diamond preservation.

DIOS has 100 % rights on diamonds from the Pontax property (1,436 claims totaling 760 sq. kilometres), after pay back of exploration expenditures at book value incurred by partner Sirios Resources Inc. and relevant to a diamond discovery. Sirios would keep a 1% overriding royalty, redeemable for one million dollars. The Pontax property, James Bay area, Quebec, is located 350 kilometers north of the town of Matagami along the paved road going to the town of Radisson. It is adjacent to the northeast of the extensive De Beers Mirabelli property.

Story link: DIOS: drill turning on Pontax