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POZ Minerals discovers potentially diamondiferous targets in the Kimberley region

The company is planning a phase II auger drilling program in early June.
samples collected
POZ shares are trading about 11% higher intra-day, at 8.4 cents

POZ Minerals Ltd’s (ASX:POZ) auger drilling campaign at the Blina Diamond Project in Western Australia has resulted in the discovery of highly prospective potentially diamondiferous gravels.

The Blina Diamond Project is in the Ellendale Diamond Province of Western Australia’s Kimberley region.

A diamond bearing alluvial palaeochannel named Terrace 5 extends over some 40 kilometres of the POZ project area, with channel widths of 200 metres to 500 metres.

The largest diamond recovered to date from Terrace 5 weighed 8.43 carats, with stones larger than two carats a common feature.

Shallow drilling program completed 

Earlier this month, a 16-hole, 144-metre, shallow drilling program was carried out by POZ to collect samples for ore characterisation assay work.

This drilling campaign resulted in the discovery of significant intersections of highly prospective potentially diamondiferous gravels and other potential gravels in all but one of the holes.

Hidden diamonds within the gravel?

The gravel clasts and entrained diamonds have been consolidated into the gravels of Terrace 5 (some 10 to 20 million years ago) and were subjected to considerable chemical weathering.

This caused the feldspars within the gravel clasts to convert to clays (saprolitisation) and thus the Terrace 5 gravels became predominantly bodies of clay and sand.

The diamonds would remain in-situ, unaffected by this saprolitisation process.

Phase II auger drilling program scheduled for June 2018

POZ is planning to conduct a phase II auger drilling program in early June to better define the best of these gravel targets.

This will allow better targeting for the subsequent bulk sampling excavation work.

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