New Nadina Explorations Limited (the "Company") and partners Chris and Jeanne Jennings (22.11%), and Archon Minerals Ltd (20.4%) are pleased to report the remaining diamond counts from kimberlite recovered during the summer 2008 at the Monument diamond project at Lac de Gras, NWT. (NR Nov 5, 2008)Kimberlite pipes Sparky, DD39 and Gemini are located in the southern cluster, and each returned significant diamond counts with a diamond distribution that suggests larger stones will exist. Sparky was tested with BTW diamond drill holes 35-M01-07 (Azimuth 225°, Dip -45°, kimberlite intercepted from 38.5-89.8m), 36-M01-07 (Azimuth 007°, Dip -45°, 19.7-66.4m) and M01-07 (Azimuth 138°, Dip -45°, 31.2-70.7m). Sparky is a pipe that consists of pyroclastic kimberlite with lesser reworked volcaniclastic and minor hypabyssal kimberlite. The combined 412 kg sample returned 207 diamonds with one stone sitting in the 1.7 mm sieve (Table 1).
2009 News Releases
New Nadina Explorations Ltd. will defer a mini-bulk test of its Monument kimberlites until 2010 and will spend the spring and summer drilling, says its president, Ellen Clements. New Nadina and its partners have more sparkle after finding some new kimberlites last year, but they will need larger tests to prove or kill the play on the south shore of Lac de Gras in the Northwest Territories. That work will have to wait a year, but Ms. Clements says New Nadina and its partners will spend well over $1-million this year leading up to a larger effort in 2010.
The Global Mining Newspaper
Jan 8 - 14, 2009
Vancouver - Drill results from the Monument diamond project in the Northwest Territories have its joint-venture owners excited about the possibility of finding sizeable stones.
Monument, which sits on the shores of Lac du Gras, is truly a joint venture. New Nadina Explorations (NNA-V) owns 57% of the property and acts as the operator. But the junior is more than open to suggestions from its partners, which include two of the men who first found diamonds in Canada's north. Stu Blusson, who found the kimberlite pipes that feed the Ekati mine, is the head of 21%-owner Archon Minerals (ACS-V). The other 22% is held by Chris and Jeanne Jennings; Chris Jennings was a key member of the team that identified the resource behind the nearby Diavik diamond mine.
An 8-per-cent finder's fee payable in units under the same terms may be payable in compliance with the guidelines of the TSX Venture Exchange policies. Shares of the company last traded at 11 cents.
This private placement replaces the financing as announced in our prior news release of February 3, 2009.