Olivut Resources Announces Drilling Results at HOAM Kimberlite Project

Olivut Resources Ltd. (TSXV:OLV) announced an update on the successful 2012 drilling program for the HOAM kimberlite project.

As quoted in the press release:

The field portion of the 2012 drilling program was completed in September and resulted in a new kimberlite discovery. Eleven holes were drilled on eight previously untested targets. Drilling was focused on magnetic anomalies identified by ongoing analyses of detailed airborne magnetic surveys of prospective new target areas. The discovery hole intersected kimberlite at 32 metres and was stopped in kimberlite at 120 metres. Caustic fusion analysis to determine diamond content will be conducted on 245 kilograms of kimberlite core by Saskatchewan Research Council. The Company will report the results when they become available.

Click here to read the Olivut Resources Ltd. (TSXV:OLV) press release.