Dec 10 2010
Big Red Diamond Corp (TSX VENTURE:DIA) would like to notify its shareholders that it has been advised by its joint venture partner on the J6L1 Rare Earth Metals project, Arctic Star Diamond Corp. (TSXV: ADD), that the sampling and prospecting program commenced in early November has been completed. We are currently awaiting assay results.
During early November, anomalies generated from a recently completed magnetic and radiometric survey were ground checked, prospected, and sampled. A total of 118 samples were collected throughout the property. Highly anomalous radioactivity was encountered at seven distinct locations, with several readings exceeding those from the historic J6L1 showing directly adjacent to the property. Anomalous radioactivity is considered a primary indicator of for rare metal mineralization. Most anomalous readings were traced for short distances, and appear to be confined to narrow trends associated with quartz veins. Many of these trends were truncated by overburden and require further evaluation.
The geology of the property has previously been mapped as a hypersthene monzonite intrusion. Coupled with historic assays of highly anomalous Nb-Zr and rare earth elements (REE), this suggests potential for the area to host per-alkaline rocks and associated rare metal mineralization.
Samples were sent to Activation Laboratories of Ancaster, ON for analysis using their 8-REE (whole rock, REE, base-trace metals) with Nb and Ta determined using XRF and Au by fire assay. Results will be released when received.
The property closely borders four Nb, Zr, Y, and rare earth element (REE) showings discovered by Soquem in the late 1970's (J6L1-West, Central, East, and North showings). The showings were discovered after follow-up of uranium anomalies from a lake bottom geochemical survey. Trenching of the showings produced analysis of 1.90% to 7.88% Nb2O5 and peak values of approximately 4% rare earths (semi-quantitative) and 12% Zirconium.
An airborne magnetic and radiometric survey recently completed over the property and immediate surroundings has outlined a large (~ 5 x 5 km) ring structure with a distinct magnetic core. The J6L1 showings lie within an outer ring characterized by low background magnetics that extend throughout much of the property. Multiple anomalies, considered prospective for Nb-Zr-REE mineralization were outlined by the airborne survey.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geol., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
Source: Big Red Diamond Corporation