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Abstract
The kimberlite is comprised of at least two volumetrically significant units: the MKU-A unit and the MKU-B unit, both of which are highly diamondiferous. The MKU-A unit has been interpreted as magmatic kimberlite and the MKU-B unit has been interpreted as volcaniclastic kimberlite. Each unit comprises approximately one-half of the volume of the pipe. The kimberlite occupies a surface area of approximately 4 hectares, making it in excess of 2 times the size of the Jericho pipe. Current tonnage estimates for the Muskox kimberlite are approximately 12 to 14 million tonnes to a depth of 250 metres, however further delineation is required to determine an accurate figure. The Muskox kimberlite lies approximately 14 kilometres west of the Jericho pipe, which is well within trucking distance of the Jericho mine-site (see press release dated October 18, 2005 for recent Muskox exploration results).
Although the sample size is small, the Mineral Services preliminary review indicates that the Muskox kimberlite has good diamond grade potential. These results suggest higher grade potential than that indicated by a small bulk sampling program undertaken by De Beers in 1997 (see SEDAR filed technical report dated March 31, 2005). While the reasons for this discrepancy are unclear, the recent microdiamond results are sufficiently compelling to justify additional bulk sampling to more reliably determine the diamond grade of the Muskox kimberlite. The quality of the Muskox microdiamonds is encouraging but further work is required to determine potential macrodiamond values. Mineral Services will continue to work with the Company during the Muskox kimberlite evaluation program.