Press Releases

Superior diamonds intersected a kimberlite body on Fieldex ground

Fieldex Exploration Inc. (FLX-TSXV and F7E-FSE) is pleased to announce that Superior Diamonds Inc. has intersected a second kimberlite body in the Ville Marie area of Quebec. As previously announced, Superior has identified the Morin kimberlite pipe as the source of the Lac Lussac dispersal train, and has now identified a kimberlite at the head of Superior's Lac Honorat kimberlite indicator mineral dispersal train. This new kimberlite occurs approximately five kilometres southeast of the Morin kimberlite pipe.

Hole VM07-042 was drilled at a 50-degree angle to the southwest (210 degrees). Kimberlite was intersected at 24 metres. The hole continued for 147 metres through kimberlite before intersecting fine-grained gabbro at 171 metres. This indicates that the width of the kimberlite body is approximately 90 metres; however, it is unknown at this time if drilling has intersected the middle of the body or is clipping the edge.

The kimberlite is on ground held by Fieldex Exploration Inc., of which Superior has 100 per cent of the diamond rights, with Fieldex entitled to a 2-per-cent gross overriding royalty. This kimberlite has no geophysical signature, and was only discovered after additional surface samples and four reverse-circulation drill holes were completed in the area. Kimberlite indicator minerals recovered from these samples better defined the dispersal train, which led to the discovery of this kimberlite. The mix of kimberlite indicator minerals observed from core recovered from this kimberlite, along with those observed in the overburden samples, suggests a second kimberlite pipe in the area.

As part of its due diligence process, Superior submits representative samples of the core to an independent party for a second party audit. Overburden Drilling Management Ltd. has been used as this independent party. Stu Averill, president of Overburden Drilling Management Ltd., classifies the drill core material as, "Kimberlite, dark grey-green, weakly magnetic, upper diatreme-facies tuffisitic breccia."

"The discovery of this kimberlite in the Lac Honorat area verifies there are potentially a number of kimberlites in the Lac Honorat and Lac D'Argent areas," states Dr. Thomas Morris, vice-president, exploration, of Superior. "We are waiting for the results from our 2007 overburden sampling and reverse circulation drill programs, which we expect will define additional kimberlite dispersal trains and further refine the distribution of those already discovered in the Lac Honorat, Lac D'Argent, Lac Lussac (which contains Superior's Morin kimberlite) and Lac des Quinze areas."

Superior currently has two exploration drills in the Lac Honorat area and now will focus its drilling program on defining the surface dimensions of this kimberlite body. Following the delineation of the surface area, the next step will be to collect and process additional overburden samples for their heavy minerals, to better define other drill targets.

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