Previous | Next

Pele Mountain Resources (Visit this link)

Pele Mountain Resources Inc. is a Canadian mineral exploration company, with two diamond and two gold exploration projects in northern Ontario. Pele is headquartered in Toronto and trades on the TSX Venture Exchange under the symbol %u201CGEM%u201D. The Festival Diamond Project hosts Canadian commercial size and gem quality diamonds and has been the Company%u2019s primary focus since 2000. Pele controls a 100% interest in the mineral rights of a 101-square kilometer land package through a Mineral Exploration License Agreement with the landowner. The size of the diamond deposits in outcrop suggests significant tonnage potential. Festival borders the Trans-Canada highway, area infrastructure is outstanding and local support for mining projects is strong. The recent breakthrough discovery of a 0.72 carat white diamond (named %u201CThe Big Goose%u201D) confirmed the presence of large, gem quality diamonds at Festival. A single drill hole that intersected up to 100 meters of the diamond-bearing volcanic unit confirmed the continuity of the Cristal diamond occurrence at depth.

Visits: 101
Added: Mon Aug 02 2004