Zimtu Capital Starts Field Work at Munn Lake Property

Zimtu Capital Corp. (TSXV:ZC) announced that it’s started field work at the Northwest Territories-based Munn Lake property. The company will focus on kimberlite indicator mineral sampling with the aim of validating historic sampling work and providing “additional insight into the diamondiferous potential of each area.”
As quoted in the press release:

Prima Diamond Corp. (Prima) had previously entered into an option agreement to acquire 100% of the Munn Lake Diamond Property from Zimtu and one of its staking partners. Prima has not received TSX Venture Exchange approval of the option agreement. Zimtu and its staking partner have decided to commence the above outlined field work program at the property. The exploration work is intended to advance the knowledge of the project. The results of the program may result in a renegotiation of the option agreement. Without regulatory approval, Zimtu and its staking partner will continue to look at the best alternative opportunities to advance the project.

Historic exploration highlights include:

• Between 1996 and 2007, SouthernEra Resources Ltd. acted as the operator of the diamond exploration program at Munn Lake. The bulk of the historic work was conducted between 1996 and 1999.
• Diamondiferous “Yuryi” Boulder Field**
  • 226 diamonds, including 62 macro-diamonds returned from 581 Kg sample
  • Boulders up to 25 m in diameter
• Diamondiferous Munn Lake Sill***
  • 14 diamonds including 2 macro-diamonds and 12 micro-diamonds returned from 42 kg sample
  • Drill-indicated total length of 1.3 km
  • True thickness between 12 m – 0.25 m
• Four additional Kimberlite Indicator Mineral (KIM) trains on the property, sources yet to be identified.

** SouthernEra news release, February 18th, 1999
*** SouthernEra news release, June 8th, 1999.

Click here to read the full Zimtu Capital Corp. (TSXV:ZC) press release.