NUNAVUT Toronto-based VAALDIAM RESOURCES has begun a 100-tonne bulk sampling project at the Artemisia kimberlite near Coronation Gulf. This is the first part of a work program that can earn Vaaldiam a 40% interest in certain properties belonging to ASHTON MINING of Vancouver. Terms of the option commit Vaaldiam to spending $3.0 million by the end of 2008. The Artemisia and several other kimberlites near Knife Lake will be sampled.
The Artemisia kimberlite has a surface expression of three hectares, according to Ashton. An 11-tonne mini-bulk sample collected in 2002 returned an estimated diamond content of 10.7 carats per hundred tonnes (cpht).
More information about the Coronation Gulf properties is available at www.Ashton.ca or www.Vaaldiam.com.