- RJK Explorations (RJX.A) has discovered new kimberlite at Lightning Lake, as part of its ongoing drilling program south of the Cobalt mining camp
- The majority of the target is underlying Lightning Lake
- It also discovered its Gleeson property is much larger than originally thought
- The company will expand drilling operations in the area
- RJK Explorations is down 1.96 per cent on the day, with shares trading at C$0.25 at 1:30 p.m. EST
RJK Explorations (RJX.A) has discovered new kimberlite at Lightning Lake, as part of its ongoing drilling program south of the Cobalt mining camp.
The discovery is also tied into the the east-west Schumann Arch Fault.
The company's first drill hole intersected seven metres of kimberlite under 1.5 metres of overburden, terminating in diabase bedrock at a depth of 8.5 metres. A second hole intersected 1.3 metres of kimberlite.
The intersections are located within an electromagnetic conductance target associated with Lightning Lake, with the majority of the target underlying the lake.
Additional drilling will be done at a later date to define the boundaries of the target.
The kimberlite visually compares to the Paradis, Gleeson, Robin's Place, and HSM kimberlites.
RJK Explorations president The kimberlite visually compares to the Paradis, Gleeson, Robin's Place, and HSM kimberlites.
RJK Explorations president Glenn Kasner is happy with the company's progress.
"We knew the kimberlites in the area were shallow, but observing that there are zones exposed very close to the surface supports our hypothesis that the Nipissing Diamond was likely found within this region. The Lightning Lake kimberlite is our sixth new discovery in the past twelve months, and adds a new control for kimberlite emplacement with the east-west Schumann Arch Fault. We've also discovered Gleeson is much larger than we originally thought."
Kasner says the company will now look to expand operations in the area.
"Every new discovery continues to add tonnage to the Lorrain Township kimberlites. We've extended our contract with the RC drilling contractor, in order to expand the area of some of our recent discoveries with near 100 per cent recovery of the kimberlites, and also to drill test a portion of our remaining targets. With the RC drill, the company is able to achieve 2-3 drill holes per day depending on the depth, terrain conditions and travel distance from site to site, allowing for very efficient, cost-effective exploration. RJK will be engaging consultants to determine the best method to process the large amounts of kimberlite material being taken."
RJK Explorations is down 1.96 per cent on the day, with shares trading at C$0.25 at 1:30 p.m. EST.