News

New discovery propels Sanatana higher

22 April 2008 09:18:00

News that Sanatana Diamonds has found a new kimberlite at its Greenhorn project in the Northwest Territories of Canada helped the firm gain a quarter of its value today.

The Vancouver headquartered diamond miner's discovery, named Dharma Uttar, is adjacent to, and north of the Dharma kimberlite discovered last year.

"Drilling will continue at Dharma and Dharma Uttar until their rough size and outline is determined, and until enough sample (500kg to 1000kg) has been recovered from each major kimberlite unit for microdiamond analysis," said the AIM listed firm.

Many of Sanatana's higher priority targets have remain untested as drilling can only take place near deeper lakes due to the need for water in the drilling process. Most of the shallower lakes are frozen at the bottom.

The company said it plans to continue to test on "water" targets using the diamond drill core rig, returning to the "dry" targets once the spring melt is in effect.

In addition, it has bought a heli-portable reverse circulation drill rig that uses compressed air to bring samples to surface and which does not require water. Delivery is expected in May.

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