project wawa

The Wawa project consists of 45 square kilometers of prospective diamond exploration terrain located 35 kilometers north of the town of Wawa Ontario, a small tourist/mining/lumber town on the northeast shore of Lake Superior. The project area, straddles the Lake Superior route of the Trans-Canada highway, Highway 17, providing excellent year round access to the property. The property is subject to a joint venture with KWG Resources Inc. and is held 49% by Spider and 51% by KWG. Spider is currently the operator of the joint venture. As a result of exploration activity in 1996 and early 1997, eight separate diamond occurrences have been located in what has been classified by various petrologists as lamprophyre dikes. These ultramafic intrusions have been intermittently traced using bulldozers and excavators. Each of the eight diamond occurrences is a bedrock outcrop occurrence. The best result on the property to date, consists of a small sample LAL-2 that weighed 36.0 kg where 48 microdiamonds and 6 macro-diamonds were recovered, this sample averaged 46.2 carats per 100 tonne from a trench exposed on the highway taken from the original Sandor discovery site. A sample of this occurrence selected by Ron Sage (Ph.D.) of the Ontario Geological Survey yielded a 1.5 X 1.3 X 1.0 mm multiple twinned clear diamond. An outcrop 3.9 kilometers south of the initial discovery site yielded 81 microdiamonds and 11 macrodiamonds from a 164.7 kilogram sample, this sample averaged 27 carats per hundred tonnes. Additional exploration is recommended for this project area in light of the escalated activity to the east by Kennecott the Canadian exploration arm of RTZ, and also the activity of Band Ore one kilometer southeast of the property, Dumont Nickel to the northeast and southwest and Pele Mountain immediately east of the Spider property.

Competition
An additional (circa late1999) diamond discovery in this area was made by a consortium of three prospectors (not involving the aforementioned prospectors that originally discovered the above mentioned Sandor diamond occurrence). Personal communication between the Timmins based prospector and Spider along with subsequent press releases confirm that the discovery by this consortium is proximal (a few kilometers to the southeast) to the Wawa land holdings of Spider. The original showing of the consortium has been visited by Spider management; it consists of two outcrops that were recently exposed during 1999 road construction. A 70.5 kg. sample by the consortium is reported to have yielded 9 microdiamonds from the first outcrop, while a 63.4 kg. sample of another nearby outcrop has been reported to have yielded 45 diamonds, 10 of which are macrodiamonds. On Feb. 10, 2000 Band Ore Resources Inc. announced that they had acquired these two prospects that are covered by a 25 square kilometer land package and that they were commencing a $1.0 million exploration program. In light of this several junior diamond explorers including Dumont Nickel and Pele Mountain acquired significant land holdings in the area surrounding the current land position of Bandore and Spider.

Since acquiring the property in early 2000, Bandore has sampled in excess of 100 surface showings on their GC property, and have diamond drilled their original discovery site with two drill-holes. Bandore has identified 5 zones of heterolithic breccia in outcrop. Two of the breccia zones have been traced for more than 1.6 kilometers, with widths varying between 1.5 and 50 meters. The best result to date, has been from an area where an angular boulder of diatreme breccia yielded 128 microdiamonds in a 16 kilogram sample. Three new samples from this area, each of which weighed 16 kilograms returned a total of 823 microdiamonds and 25 macro-diamonds collectively weighing 0.044 carats. The largest stone recovered was a clear-yellow fragment measuring 1.04 X 0.86 X 0.62 mm. Bandore plans to return to the area in early spring, once all outstanding sample results are available.

Pele Mountain recently announced that they had commenced working on the Destiny occurrence, located very proximal to Spider’s eastern property boundary. It is evident from a recent site visit by Spider management that the Destiny Showing of Pele is probably an eastern extension of the original Sandor Occurrence, which is located 1.743 kilometers to the west. Pele reports that 7.4 tonnes of regolith (weathered bedrock) and fresh bedrock was sampled, and processed at Lakefield Research for macro-diamond content. A total of 55 macro-diamonds were recovered during this test, the largest diamond measuring 2.65mm X 2.39mm X 2.09mm with a carat weight of 0.1 carats. Additional sampling at the Destiny showing as well as the PC showing (located between Destiny and Sandor Occurrence) of Pele was planned in late March, 2001. It has been confirmed by Spider management that the Destiny showing of Pele is located 63 meters north of the common claim boundary between Spider and Pele in this area. Pele has on ongoing exploration program underway.