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Thelon Diamonds Ltd.
Summary
| Project: | Chedic | |
|---|---|---|
| Deposit: | Chedic | |
| Location: | United States | |
| Commodities: | Graphite | |
| Date: | 4/19/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-4-2017: Thelon Diamonds Ltd. announces a Supporting Acquisition report for its Chedic deposit at the Chedic project. Summary of property in support of acquisition. The issuer, Thelon Diamonds Ltd. has the right by making staged payments of earning 100% | |
| Resources: | x | |
| CP/QP: | [Overall Report]: William Feyerabend (Independent) | |
| ABSTRACT: | The issuer, Thelon Diamonds Ltd. has the right by making staged payments of earning 100% interest subject to a 3% NSR in the VC -1 thru VC – 19 lode mining claims totaling approximately 380 acres. The claims are in good standing on Federal lands managed by the US Forest Service in Carson City, Nevada. The claims cover a historic graphite occurrence which saw some graphite production in the early 1900s. Analyses ranging from 5.5% to 29.9% carbon from current sampling confirmed the graphite presence and a CSAMT/MT geophysical survey shows a response interpreted to be from graphite over 3,000 long on the claims. The graphite potential has never been drill tested. Drilling can proceed following completion of permitting. A plan of five drill sites to test the CSAMT/MT geophysical anomaly is in a previous permit application. One drill site selected from those after a detailed field exam for minimal disturbance can be used to drill test the geophysical anomaly. A direct cost budget of $US 125,000 detailed under ‘RECOMMENDATIONS’ is proposed to accomplish that goals. The budgeted program will be successful if drilling penetrates interval(s) with thicknesses and carbon contents of potential economic interest. Further work depends upon the results of the proposed program and would fall under a separate budget. | |
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