The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
IME: TSX-V
President and CEO: Bruce Counts
Vice President, Exploration: Dave Kelsch
Indicator Minerals Inc. is exploring more than 2.74 million acres of targeted ground in the Canadian arctic and is currently advancing four drill-ready projects in Nunavut - Darby, Borden, Grail and Nanuq North - with potential for discovery.
This year, the diamond hunter devoted its exploration dollars to further investigation of the diamondiferous NQN-001 kimberlite discovered in 2008 at its Nanuq North joint venture with Peregrine Diamonds Ltd. It also collected an 800-kilogram minibulk sample from the 4.5-hectare, or nearly 11-acre-surface-area kimberlite.
In September, Indicator said it began the process of securing regulatory permits required to conduct a drill campaign on its Grail Project in Nunavut.
In the past year, Indicator completed heavy mineral sampling and airborne geophysical surveys on the 195,000-acre property on the Boothia Peninsula in the Canadian arctic about 80 kilometers, or 57 miles, from the tidewater community of Taloyoak.
The work has returned results including diamond inclusion mineral chemistry and high-confidence geophysical targets.
The junior plans to begin a first round of drilling on the property as soon as practical in 2010.
Vancouver, B.C.-based Indicator is operator on the Grail Project and holds an 80 percent interest in its diamond rights along with the ability to acquire the remaining 20 percent ownership under certain conditions.
Kimberlite indicator minerals have been isolated to a discrete area of Grail and are believed to originate from kimberlites with excellent potential for economic quantities of diamond, the junior said.
Cash and short-term deposits: C$363,807 (May 31, 2009)
Working capital: C$292,464 (May 31, 2009)
Market capitalization: C$6.4 million
275 - 1075 W. Georgia St., Vancouver, BC Canada V6E 3C9
Tel #: 604-331-4605 Fax #: 604-331-4654
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