WAWA
  • 357 claim units
  • Initially a joint venture between Metalex and Mori Diamonds Inc., with Metalex having the right to earn 60% interest by sole funding the first diamond deposit to a bankable feasibility a 50:50 joint venture with Dianor.
  • Metalex subsequently assigned 50% of its rights and obligations to Dianor Resources ($100,000 payable annually)
  • thus each Dianor and Metalex have the right to earn 30% project interest
  • 2% NSR payable

Wawa_loc

TARGET RATIONALE

  • Previous regional exploration has discovered diamonds contained in a variety of old metamorphic rocks
  • Discovered diamonds are generally not of commercial size.
  • 2 >1 carat diamonds recently discovered in 2 drainages immediate south of the Mori/Metalex ground
  • May be indicative that the diamond bearing metamorphic rocks in this region have potential to contain commercial diamonds.
  • Mini-bulk sampling of diamond bearing rock carried out by Dianor south of the Metalex ground returned 0.63 cts/tonne of commercial size diamonds as well as encouraging macro to microdiamond ratios.
  • Should the host rocks that contain the Dianor diamonds continue onto the Metalex ground, the Metalex believes there is possibilty that commercial size stones might be discovered there.
  • The exploration target is commercial diamonds contained in old metamorphic rocks.

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HIGHLIGHTS OF PREVIOUS WORK

  • Previous exploration in the Wawa are has discovered numerous deposits of small diamonds within metamorphosed Archean basement rocks.
  • Dianor has discovered rocks with encouraging grades and stone size distribution directly south of the Mori-Metalex ground
  • Commercial size diamonds found in drainages to the south of the Metalex ground.

METALEX WORK
  • 130 drainage and rock samples collected
  • Pictures of coloured diamonds referred to news release dated June 25, 2008 are below:
Que diamonds 1
Que diamonds 2
Que diamonds 3
Que diamonds 4
Que diamonds 6
Que diamonds 7
Que diamonds 9
Que diamonds 10
Que diamonds 11
Que diamonds 12
Que diamonds 13
Que diamonds 14
Que diamonds 15

 

FUTURE WORK
  • Backtrack diamond indicators to their source
  • Staged sampling of diamond bearing rocks to determine their commercial potential
  • Feasibilty studies
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