Diadem completes franklin survey

Diadem Resources Ltd. has completed a ground magnetic survey on its Franklin Diamond Project on the Parry Peninsula in the Canadian Arctic, located approximately 30 km northwest of the Settlement of Paulatuk in the Inuvialuit Settlement Region of the Northwest Territories.

The survey was designed to more precisely locate and define a number of airborne magnetic anomalies on the ground that Diadem management determined was necessary prior to initiating a diamond drilling program. Collectively, a total of 327.7 line km of survey was carried out over 13 individual control grids overlying 16 separate airborne magnetic anomalies.

The survey was carried out by JVX Ltd of Richmond Hill, Ontario under the supervision of Tim Sandberg of Taiga Consultants Ltd of Calgary, Alberta using three GSM-19W walking v7.0 Overhauser magnetometer systems (roving magnetometers) with an associated GPS board. Two stationary non-GPS base station GSM v7.0 magnetometers were also used in the survey to measure the diurnal variation in the earth’s magnetic field within the survey area. Magnetic data were collected on foot with three instrument operators reading the “roving” magnetometers.

Preliminary, unrefined field data suggests that several of the airborne magnetic anomalies that were surveyed on the ground have magnetic signatures similar to those recorded by previous ground surveys over known diamond-bearing kimberlite pipes on the Project. The ground magnetic anomalies are characterized by well-defined, circular magnetic lows and magnetic high signatures that appear to be spatially related to major structural features. The magnetic expressions of the known kimberlite pipes on the Diadem property contrast sharply with the weakly magnetic carbonate and clastic sedimentary rocks that they have intruded, enabling the recognition of potential kimberlite pipes with a high confidence level.

The raw data collected from the ground magnetic survey is being processed and analyzed by JVX Ltd. The results of this analysis will be announced when JVX Ltd has provided Diadem with the final results of the survey. Once such results are known, Diadem will finalize its drilling program for the Project which it expects will be carried out later this year, subject to permitting.

Source : http://www.diademresources.com/

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