‘Rock stars’ recharge the diamond industry
Exciting discoveries by Arctic Star geologists Buddy Doyle and Roy Spencer
Why haven’t we seen a major diamond discovery since the 1990’s? What does it take for the industry to find diamonds in today’s conditions? Truth is, the sector has been slowly dying since the 2008 global financial crisis, with only a limited number of diamond mines around the world still operating.
Many diamond mines have dropped out or are projected to change course because of funding issues. The Argyle Mine in Western Australia, the largest producer of diamonds by volume, is expected to close in 2020. Similarly, Siberia’s Mir mine, one of mankind’s largest excavated holes recently closed – leaving a nice opportunity in the diamond sector.
This unsteady market has created an influx of junior companies rushing to enter the sector with very little capital and limited experience.
Not a good idea. To find diamonds you need know-how coupled with funds. In the diamond industry, that’s almost as rare as finding a diamond in the rough.
The sad reality is that most juniors jump in with high hopes of finding something valuable, convince the fundraisers that they’re are sitting on a good thing, then crash and burn after the money runs out.
The lack of major diamond discoveries in the past three decades has weakened the industry’s confidence and markets. A major world-class discovery is needed to recharge the sector. And Arctic Star Exploration (ADD.V) may have the golden key…and the diamonds!
With a 100% fully paid up property, the company is led by world-class geologists Buddy Doyle and Roy Spencer. This dynamic duo has 68 years’ combined experience under their tool belts, not to mention some major discoveries.
During the mid-90s. Doyle led the team that discovered the Diavik diamond deposits in northern Canada – a mine that produces 7 million carats of diamonds annually. Around the same time, Spencer, a De Beers veteran, helped discover the multi-billion-dollar Grib kimberlites in northwest Russia, one of the world’s largest deposits.
In 2003, he also discovered the Lentiira kimberlite cluster in central Finland, located 450km SE from Arctic Star’s 243-hectare Timantti exploration.
The 3 Wolves – a howling success
Arctic Star Exploration is currently pulling kimberlites and diamonds out of the ground in three areas sitting 300 meters apart (The 3 Wolves). This kimberlite cluster was found by using ground geophysics, then excavator till sampling, which included including 20 samples of 50 metric pounds, approximately 600 meters deep. The find yielded four diamond-bearing kimberlites. Bingo!
Kimberlites are likely to occur in fields, which commonly contain 30 or more separate kimberlites so it is likely there are more kimberlites to come.
This all shows strong possibilities.
The Wolf kimberlites are just the first discoveries in a more extensive cluster. Arctic Star tested the quality of the diamonds as well. They found one of the Wolves (White Wolf) especially exciting, yielding approximately 7 carats/T and 60% white stones (anything over 30% is good). A larger sample is needed for a more accurate result, but these random micro-tests are looking excellent.
On the capital market side, ADD.V closed at .085 cents on March 25th, an extremely fair price for a potential discovery of this calibre. Considering last week’s 27% increase mid-week, it seems that today’s sophisticated diamond investors are finally realizing the potential of this opportunity. If we were in the 1990s, when consumer confidence was high, this stock would surely have been around the $3 mark.
Also impressive is the impact on the stock market of a fully-paid property with a strong discovery potential. That means the mine is ready to pay out now. No debt overhang for the infrastructure, or years of exploring. Plus, of course, 100% owned property means 100% paid property and profits are the next step.
While these discoveries unfold, the stock is not going to stay at .085 cents for long. We may find that we’re not only sitting on a diamond mine, but also a golden stock.
Arctic Star’s discovery is just what the diamond industry needs to bring back investment confidence. Not only could we find amazing rare gems to bring to market, but the way is also open for the next world-class discovery to stimulate the diamond industry.
Thanks Buddy and Roy.
Disclaimer:
*Content found herein is not investment advice. This is a journalistic article and the author is not a registered securities advisor, and opinions expressed should not be considered as investment advice to buy or sell securities, but rather journalistic opinion only. Technical mining terms used by the writer may be used/expressed in simplified layman terms and should not be relied upon as appropriate for making investment decisions unless the reader contacts the company directly for independent verification. *Estimates of potential made by the mining analyst and journal(s) are non 43-101 and not from the Company.
—
Isabelle Arsenault
Media Relations
MomentumPR
- Published in Arctic Star Exploration, Diamond Discovery, Mining
Arctic Star Announces 100% Increase to Land Position, Timantti Project, Finland
Momentum Public Relations
Press Release: May 10 2018
Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (“Arctic Star” or the “Company”) is pleased to announce that it has increased its land position by 100% on the Timantti Diamond Project in Finland (the “Project”). The Project now comprises a total of 193,700 Ha under an Exploration Reservation, representing a district scale land package that is 100% owned with no underlying royalties.
Highlights:
- The Timantti Diamond Project has increased by 98,000 Ha, for a total land package of 193,700 Ha.
- The new Exploration Reservation package extends the pre-existing land package to the south where previous work has discovered at least one kimberlite body.
- The new Exploration Reservation was acquired directly from the Finish Mining Authority at an approximate acquisition cost of $3,750 CDN plus associated legal costs.
- The Company has applied for and anticipates it will receive an Exploration Permit in short order for the new ground to thus begin exploration activity this summer.
+1 (604) 218-8772
- Published in Arctic Star Exploration
Arctic Star Announces Diamonds Recovered from the New Kimberlite Discoveries, Timantti Project, Finland
Momenum Public Relations
Press Release:April 16 2018
Arctic Star Exploration Corp. (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (“Arctic Star” or the “Company”) is pleased to announce that it has received diamond results from caustic fusion analyses on the recent kimberlite discoveries within the 100% owned Timantti Diamond Project in Finland (the “Project”), namely the Grey Wolf kimberlite and the Vasa Dykes. Both kimberlitic bodies were discovered by excavator, and these first results are from samples within the discovery pits. In addition, the Company is awaiting caustic fusion analyses results from its diamond drill program.
The results are shown in Table 1, together with the previous caustic fusion results reported by Arctic Star as per the July 26, 2017 news release. The White Wolf and Grey Wolf results are also shown as a combined total as the 2 kimberlitic bodies occur in close proximity.
Table 1: Caustic Fusion Results Timantti Project
Kimberlite | Sample Weight (Kg1,2,3) |
+0.106 mm |
+0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
+.85 mm |
+1.18 mm |
Total Stones |
Grey Wolf | 99.98 | 28 | 18 | 20 | 8 | 1 | 2 | 0 | 1 | 76 |
Vasa Dykes | 25.74 | 1 | 5 | 5 | 0 | 0 | 0 | 0 | 0 | 11 |
White Wolf | 67.55 | 70 | 61 | 24 | 15 | 3 | 5 | 0 | 1 | 169 |
Total Wolves | 167.53 | 98 | 79 | 44 | 23 | 4 | 7 | 0 | 2 | 245 |
Notes:
1. Samples processed at Microlithics Laboratories Inc., of Thunder Bay, ON (“Microlithics”). Microlithics is independent of the issuer
2. Dry weights
3. The samples followed a chain of custody and were received sealed at the laboratory
4. Diamond results as per CIM guidelines
In general, diamondiferous kimberlites show an exponential relationship between the size and frequency of small diamonds and larger diamonds. Microdiamond counts can thus be used as a semi-quantitative, predictive guide to diamond grade. The higher the diamond count and the more larger diamonds present in a sample, the higher the expected grades for a particular kimberlite. The accuracy and reliability of this grade estimation method increases with the size (weight) of the sample and the numbers of stones.
Arctic Star’s goal at this early stage of the evaluation of the Timantti kimberlites is to gather and process enough caustic fusion sample to give guidance on the grade of each discovery.
For comparison purposes and to understand the significance of these discoveries, the Company has compiled published caustic fusion micro-diamond results from other kimberlites located elsewhere in Finland and recent discoveries Canada.
Table 2: Recent Micro-Diamond Results Comparison
Kimberlite | Sample Weight (Kg) |
+0.106 mm |
+0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
+.85 mm |
+1.18 mm |
+1.70
mm
|
Total
Stones
|
Rabbits Foot1 | 99.75 | 81 | 40 | 16 | 13 | 5 | 1 | 0 | 0 | 0 | 156 |
Pikoo (150)2 | 582 | 618 | 348 | 150 | 82 | 45 | 32 | 29 | 2 | 2 | 11 |
Seitapeira3 | 100.2 | 28 | 28 | 4 | 7 | 0 | 0 | 0 | 0 | 0 | 67 |
No. 21 Kimberlite4 | 287 | – | 87 | 55 | 29 | 10 | 4 | 0 | 0 | 0 | 185 |
Lahtojoki5 | 1771.17 | – | 410 | 326 | 208 | 102 | 27 | 13 | 7 | 1 | 1096 |
Total Wolves | 167.53 | 98 | 79 | 44 | 23 | 4 | 7 | 0 | 2 | 0 | 245 |
Sources:
1. Rio Tinto Diamonds Exploration Ltd. Assessment Report 2015 Oskabukuta Property near White River, Ontario. Rio Tinto Thunder Bay laboratories
2. North Arrow Minerals website. Saskatchewan Pikoo kimberlite discoveries
3. A kimberlite near Kuhmo, Finland, Karelian Diamond July 2008 NR, Lakefield Laboratories
4. Nordic Diamonds News Release 2002, Koupio Kaavi Kimberlite Field Finland
5. European Diamonds 2004 Koupio Kaavi Kimberlite Field Finland
Table 3: Comparison Caustic Fusion Results Normalize to 100kg Including Ratio of Larger Macro to Smaller Micro Diamonds
Kimberlite | +0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
+.85 mm |
+1.18 mm |
+1.70 mm |
St/100kg | Ratio >.6/>.425mm |
Rabbits Foot | 40 | 16 | 13 | 5 | 1 | 0 | 0 | 0 | 75 | 0.01 |
Pikoo (150) | 60 | 26 | 14 | 1 | 5 | 5 | 0.3 | 0.3 | 111 | 0.1 |
Seitapeira | 28 | 4 | 7 | 0 | 0 | 0 | 0 | 0 | 67 | – |
No. 21 Kimberlite | 30 | 19 | 10 | 3 | 1 | 0 | 0 | 0 | 63 | 0.01 |
Lahtojoki | 23 | 18 | 12 | 5.7 | 1.5 | 0.73 | 0.39 | 0.056 | 62 | 0.045 |
Total Wolves | 47 | 26 | 14 | 2 | 4.2 | 0 | 1.19 | 0 | 94 | 0.06 |
Note: To date about 30 kimberlites have been discovered in the country of Finland by previous workers, from three main kimberlite fields, Lenturia, Kuhmo and Koupio Kaavi, most discoveries where from the Koupio Kaavi field near Outokumpo, 250km to the SW of Kuusamo where more than 20 separate bodies were found, the most diamondiferous examples from this field are Lahtojoki and 21# shown in table 2 and 3. A result from another field around the town of Kumho is shown from the Seitapeira Kimberlite, 200km to the south of Kuusamo.
Buddy Doyle, VP of Exploration stated, “We are greatly encouraged by the results, to date. So far every kimberlite we have discovered on the Timantti property has proven to be diamondiferous. We are particular pleased by the results from the Wolves, as demonstrated from table 3, these are the best diamond results to date ever reported from Finland, at least at this initial discovery phase. We look forward to adding to this as the diamond results from our drilling become available.”
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist of over 30 years’ experience in diamond exploration, discovery and evaluation.
About Arctic Star
The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 550km SW of the operating Grib Diamond Mine in Russia. Arctic has commenced its exploration in Finland on the Timantti Project, where four diamondiferous kimberlite bodies may represent the first discoveries in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The diamond results reported here are first pass exploration results and although they encourage further study they do not constitute an “economic” discovery at this time. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
- Published in Arctic Star Exploration
Arctic Star Mobilizes Drill, Timantti Project Finland
Momentum Public Relations
Press Release: February 9 2018
Arctic Star Exploration Corp (TSXV: ADD) (OTCQB: ASDZF) (FSE: 82A1) (WKN: A2DFY5) (“Arctic” or the “Company”) is pleased to announce that a diamond drill rig will arrive at site on its 100% owned Timantti Diamond Project in Finland (the “Project”) on February 12, 2018 and will commence drilling shortly after. The drill will test newly identified kimberlite targets.
Since early December geophysical crews have been active in the field conducting magnetic, electromagnetic (MaxMin) and gravity surveys over much of the 243 Ha Exploration Reservation area. In mid-January the Company deployed an excavator to collect till samples to further support geophysics results. The basil till covering potential kimberlites on the Project is only one or two metres thick.
The purpose of conducting ground magnetic, electromagnetic and gravity surveys is to search for new kimberlitic targets and to discriminate these from non-kimberlite geophysical responses. A total of 41-line kilometres of electromagnetic (MaxMin) is planned, of which approximately 50% has been completed. Approximately 35 kilometres of gravity survey is also planned, of which 55% has been completed. There are also 61-line kilometres of ground magnetics planned of which 35% is now complete.
The Wolf kimberlites are moderate magnetic highs in a fairly magnetically noisy background with iron formations and mafic volcanics producing similar or more intense responses. At this stage, there are over twenty magnetic anomalies that may represent kimberlite targets in the general Wolf area, the gravity and MaxMin survey will help further prioritize these targets prior to drilling. The Wolf kimberlites for example also have an electromagnetic response.
The excavator is sampling the basal till, “down-ice” of the more promising geophysical anomalies. Four targets have been tested to date, and the samples have been sent to laboratory to extract indicator minerals. The drill will be directed to any of these that report diamond indicator minerals.
The drill will also be utilized to further delineate the Wolf kimberlites and return a larger caustic fusion micro-diamond sample to further determine the size and grade for a decision to bulk sample these diamondiferous kimberlites.
Buddy Doyle VP of Exploration commented, “By rapidly deploying these different exploration tools to our exploration permit, we expect to obtain multiple layers of evidence of new kimberlites that can be drill tested. We know there are more kimberlites in this area by the expression of diamond favorable indicator minerals in the region, which the Wolf kimberlites cannot explain. The company also will produce a steady stream of caustic diamond fusion results from drilling the Wolf kimberlites, which, so far have produced encouraging micro-diamond counts. The next six weeks will be an exciting time for the company.”
The Qualified Person for this news release is Roy Spencer, Fellow AUSIMM, a Geologist of over thirty years’ experience in diamonds.
ABOUT ARCTIC STAR: The Company owns 100% of the recently acquired Timantti Diamond Project including a 243 Ha Exploration Permit and a 95,700 Ha Exploration Reservation near the township of Kuusamo, in Finland. The project is located approximately 450km SW of the operating Grib Diamond Mine in Russia. Arctic is commencing its exploration in Finland on the Timantti Project, where two diamondiferous kimberlites may represent the first finds in a large kimberlite field. The Company also controls diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and a rare metals project in BC (Cap).
Arctic Star has a highly experienced diamond exploration team previously responsible for several world class diamond discoveries.
ON BEHALF OF THE BOARD OF DIRECTORS OF ARCTIC STAR EXPLORATION CORP.
“Scott Eldridge”
Scott Eldridge, President & CEO
+1 (604) 722-5381
scott@arcticstar.ca
Patrick Power, Executive Chairman
+1 (604) 218-8772
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project transaction is a pre-eminent opportunity.
- Published in Uncategorized
German Geologist Discovers A Rare Carbonatite
German Geologist Discovers A Rare Carbonatite
By Stephan Bogner, Rockstone Research
Today, Arctic Star Exploration Corp. made a striking announcement of having discovered a carbonatite complex at its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned CAP Property in British Columbia, Canada.
The company started a maiden drill program in mid-July and 1 of the 4 holes intersected carbonatite. Assays are pending and expected shortly, potentially confirming the presence of niobium within the carbonatite. Arctic’s consultant, Jody Dahrouge (P.Geo.) of Dahrouge Geological Consulting Ltd., commented in today’s news:
“We are extremely grateful to be part of the group which conceptualized and discovered this hitherto unknown carbonatite-syenite complex. Carbonatite is an extremely rare rock type with only around 550 complexes identified worldwide. In addition to their rarity, they are also well-known for being the source of production for a plethora of commodities, including being the dominate source for niobium and rare earth elements (REEs). The potential rewards associated with a new discovery such as at CAP cannot be overstated.”
Geologist Patrik Schmidt at work in the field (source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Patrik-Schmidt.png
Arctic Star Exploration Corp. staked the CAP Property in 2010 based on a magnetic anomaly from government surveys. The company thought it could be a carbonatite given its size, shape and location within a quite magnetic background of mostly sedimentary rocks. Subsequent work found thin syenite dykes, which they believed to be related to a carbonatite complex.
Back then, these dykes were sampled and contained highly anomalous geochemistry (indicative of a large and higher grade carbonatite deposit below surface), including 0.48-0.98{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nb2O5, 1.13-3.19{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} zirconium, >0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} lanthanum, >0.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cerium and >0.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} neodymium. On July 18, 2017, Arctic started a maiden drill program.
I just called management for a short interview and was informed that the interpretation of a carbonatite complex on the property now proved true when a German geologist, Patrik Schmidt who works for Dahrouge, started prospecting around the northern-most drill pad and found a carbonatite outcropping in a creek bed.
They then reorientated drill hole #4 to hit the carbonatite and the pictures of the core speak for themselves. A 77 m long intersection showed carbonatite with a diverse mineral assemblage. Assays are pending and may soon make the discovery of a niobium enriched carbonatite deposit official. Recent work on the property focused on a 3,000 x 1,000 m area, where previous geophysics and rock-soil samples outlined a distinct anomaly. Most recently, 4 holes were completed along with prospecting, mapping and sampling. Highlights include:
• Carbonatite and/or alkaline rock types intersected in 2 of 4 drill holes,
• an approximate 90 m mapped strike-length of carbonatite in outcrop with apparent estimated thickness of >50 m; and
• the discovery of numerous additional outcrops of carbonatite, and related rocks, across an area measuring approximately 800 x 200 m.
The most significant drill hole to date (CAP17-004 with an orientation of 163°/-55°) intersected:
• 53-75 m: calcite carbonatite, fenite, syenite, country rock
• 75-152 m: carbonatite (variable composition; see below pictures)
• 152-219 m: syenite and fenite; EOH (“End of Hole“).
The true thickness of these intersections is uncertain at this time. The company cautions, that although a diverse mineral assemblage is present throughout the core, it is too early to determine if any metals or minerals may be present in significant concentrations. Samples are currently being collected and are expected to arrive at the lab shortly.
Core pictures of recently completed drill hole CAP17-004 showing a carbonatite with diverse mineral assemblage. Soon, assays will make clear determination of the encountered mineralization (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-1.png
image: http://www.stockhouse.com/media/news-images/Independent-Reports/Core-2.png
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-3.png
Core picture of recently completed drill hole CAP17-004 potentially showing Lower Syenite (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/trending/Core-4.png
Outcropping carbonatite in a creek bed recently discovered by Patrik Schmidt during prospecting (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/trending/Core-5.png
Full version
Recent drilling confirmed a carbonatite complex on the CAP Property (Source: Arctic Star Exploration):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Core-6.png
For more information on the CAP Property, the Rocky Mountain Rare Metal Belt in British Columbia, globally significant niobium deposits, the booming niobium market with rapidly growing demand and recent niobium transactions, see Rockstone
Report #3.
About Carbonatite Deposits
Carbonatite is a type of intrusive or extrusive igneous rock defined by mineralogic composition consisting of greater than 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} carbonate minerals. Carbonatites are rare, peculiar igneous rocks formed by unusual processes and from unusual source rocks. (Source)
Mineralized carbonatite systems have been mined for and/or are potential sources for commodities such as REE’s, niobium, tantalum, copper, nickel, iron, titanium, zirconium, platinum group elements (PGEs), gold, fluorspar, lime, sodalite, and vermiculite. Strong demand growth, stemming in part from a number of green energy solutions, has placed upward price pressure on a number of those commodities associated with carbonatites. Some of the more notable active and past producing carbonatite deposits known worldwide include Palabora (Cu, Ni, Au, PGE’s, other), South Africa; Bayon Obo (REE’s, Fe, Nb, fluorspar), China; Araxa (Nb), Brazil; Cargill (Phosphate), Canada; Niobec (Nb), Canada; Mountain Pass (REE’s), United States; and Mount Weld (REE’s), Australia.
Schematic cross-section of a carbonatite complex (source):
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Natro-red.png
Economic Importance of Carbonatite Deposits
Carbonatites may contain economic or anomalous concentrations of rare earth elements, phosphorus, niobium-tantalum, uranium, thorium, copper, iron, titanium, vanadium, barium, fluorine, zirconium, and other rare or incompatible elements. Apatite, barite and vermiculite are among the industrially important minerals associated with some carbonatites. Vein deposits of thorium, fluorite, or rare earth elements may be associated with carbonatites, and may be hosted internal to or within the metasomatized aureole of a carbonatite. As an example the Palabora complex of South Africa has produced significant copper (as chalcopyrite, bornite and chalcocite), apatite, vermiculte along with lesser magnetite, linnaeite (cobalt), baddeleyite (zirconium-hafnium), and by-product gold, silver, nickel and platinum. (Source)
Company Details
Arctic Star Exploration Corp.
1111 West Georgia Street
Vancouver, B.C. V6E 4M3, Canada
Phone: +1 604 689 1799
Email: info@arcticstar.ca
Shares Issued & Outstanding: 55,092,522
image: http://www.stockhouse.com/media/news-images/Independent{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Reports/Arctic-Star-Frankfurt.png
Canadian Symbol (TSX.V): ADD
Current Price: $0.195 CAD (08/04/2017)
Market Capitalization: $11 Million CAD
image: http://www.stockhouse.com/media/news-images/Independent-Reports/Arctic-Star-historic.png
German Symbol / WKN (Frankfurt): 82A1 / A2DFY5
Current Price: €0.117 EUR (08/08/2017)
Market Capitalization: €7 Million EUR
Read more at Stockhouse
- Published in Arctic Star Exploration, Blog, Mining, News Home
Two Diamond Legends Reunite For Next Big Discovery
Two Diamond Legends Reunite For Next Big Discovery
Baystreet Staff – Thursday, July 27, 2017
We’ve been bullish on the future of diamonds for as long as we can remember. The trick is, of course, finding the right company to invest in. Open-pit diamond mines can command premium prices like nothing else in the resource sector, but they’re hard to find with only select pockets globally available. Washington Companies this month offering to pay $1.2 billion for Dominion Diamond Corp. and DeBeers re-upping its partnership with Nambia for offshore diamond dredging efforts have reinvigorated our attention to this investment space.
There is still strong diamond demand and expectations for that to continue for decades to come. There’s a good reason that Washington is willing to pay a 44{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} premium for Dominion and for DeBeers to ink a ten-year agreement with Nambia to scour its seabed for diamonds washed out to sea by the Oranje river.
It’s also more than adequate information telling us that now is the time to get into a diamond miner with strong upside. And we’ve found one in Arctic Star Exploration Corp. (TSX-V: ADD)(OTCPK: ASDZF).
A Nose for Diamonds
Believe it or not, there is a common thread between little Arctic Star and Dominion Diamonds’ 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} stake in the Diavik Mine that Washington Companies is paying a premium for. His name is Buddy Doyle, currently Vice President Exploration and Director at Arctic Star. Doyle previously worked at Rio Tinto (NYSE: RIO) for over 23 years, most recently serving as Exploration Manager / VP of Kennecott Canada Exploration, a unit of Rio Tinto, where he was in charge of diamond exploration in North America.
Doyle was a key member of the Kennecott Exploration Australia team that discovered the multi-million ounce Minifie gold deposits at Lihir in 1987-1988 and he also led the team that discovered the Diavik diamond deposits in Canada in 1994-1995. Rio still owns 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Diavik Mine, which produced 6.6 million carats of diamonds in 2016.
If you think about multi-billion-dollar mines, it’s quite an accomplishment to be a part of one discovery. Doyle has done it twice. That’s why he is recognized across the industry as an expert in kimberlite geology – areas of igneous rock named after the 83.5-carat diamond found in the same geology in Kimberley, South Africa in 1869 – and authored or co-authored numerous industry papers on the subject. So, when Doyle says he likes what he sees for a new diamond find, it makes our ears perk up.
Now add in Roy Spencer, who just joined Arctic’s board of directors two weeks ago. Who is Roy Spencer, you may ask? He is the man who discovered the multi-billion-dollar Grib Kimberlites in Russia, as well as the Wolf Kimberlites in Finland. Late in 2016, the Russian investment group Otkritie Holding acquired the Grib mine, which produced 4.5 million carats of diamonds last year, from Lukoil for $1.45 billion.
It’s also worth noting that the nearby Lomonosova Mine of Alrosa has been producing at commercial scale since 2005. The deposit consists primarily of six kimberlite pipes, with resources estimated at over 115 million carats of diamonds.
The two diamond-bearing kimberlite gurus have collaborated previously on diamond projects in Finland and on the development of the Liqhobong Diamond Mine in Lesotho, South Africa.
Arguably two of the most accomplished diamond explorers in the world uniting to work on another project together grabs our attention for sure.
Black Wolf and White Wolf
Spencer, Doyle and the rest of the seasoned Arctic Star team believe that they could have a district-scale discovery with the Wolf kimberlites in Finland, about 24 kilometers from the Russian border. To that end, the company this month inked an agreement to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in a 243-hectare Exploration Permit over the Black Wolf (Masta Susi) and the White Wolf (Valkoinen Susi) diamond bearing kimberlites, which are collectively referred to as the “Wolf kimberlites” by the company for the sake of simplicity.
In the words of Spencer, “Kimberlites are likely to occur in fields – also known as clusters – which typically contain 30 or more separate kimberlites. The Wolf kimberlites are just the first discoveries in a more extensive cluster.”
Moreover, Arctic Star filed an application for an Exploration Reservation spanning some 95,700 hectares surrounding its 243 hectares, giving the company exclusive rights to acquire more permits over the next two years. To add some color to the size of the property, consider that 96,000 hectares is equal to about 370 square miles, a land mass larger than all but 14 cities in the U.S., including the likes of Dallas, San Diego, Indianapolis and New York City.
Broadly, the combined regional exploration and diamondiferous kimberlite property has been named the Timantti Project, making use of the Finnish word for “diamond.”
Timantti could be part of what is known as the Karelian Craton, a geological formation that hosts world-class deposits in Russia. Cratons are characterized as parts of the earth’s crust that have remained stable for approximately three billion years and act as the primary source of diamonds globally.
For the sake a brevity and because it gets quite technical, we’re not going to go deep into the geology of Timantti. However, a NI 43-101 report has been filed with SEDAR by Arctic Star, lending evidence of the diamond-bearing nature of the Wolf kimberlites. The discovery was made by Spencer while at European Diamonds in 2005 by drilling a low-magnitude magnetic high anomaly at the head of a prominent G10 pyrope garnet-bearing kimberlitic indicator mineral train they had traced over 30 kilometers. Eight angled diamond drill holes and trench sampling further added to a body of evidence confirming diamond resources exist on the project.
Latest Evidence of Diamonds
What we do want to point out is that yesterday Arctic Star disclosed receiving more diamond results from the White Wolf kimberlite. The company took advantage of the Finnish Geological survey’s policy of storing core samples at its facility in Loppi and the fact that the Finnish authority permitted Spencer to take another look at the prior samples.
A 48.65 kilogram split core was analyzed through caustic fusion by the Saskatchewan Research Council laboratory in Saskatoon. The results showed a total of 111 diamonds, 47 of which were greater than 0.106mm and six that were greater than 0.60mm, including one at 1.18mm.
Additional assays from earlier surface sampling by Arctic Star analyzed at the Microlithics Laboratory in Thunder Bay also showed diamonds at White Wolf, including 58 stones in an 18.9-kilogram sample and 169 stones in a 67.55-kilogram sample.
What’s Next
These microdiamonds being found is tantamount to the potential for a large kimberlite discovery. The majority of diamondiferous kimberlites around the world show an exponential relationship between the number of small diamonds and large diamonds. The next step will be to commence a drill program to collect more caustic fusion samples, and delineate the size and shape of the kimberlites. This program would commence on the completion of ground geophysical surveys designed to help plan this drill program.
In short, better define White Wolf and Black Wolf and look to collect data on new kimberlite discoveries at Timantti. In our view, corporate value will continue to build based upon the two known kimberlites alone and proof of additional clusters will lead to talk of Spencer and Doyle “doing it again” to add to the billions of dollars’ worth of diamond discoveries already in their C.V.’s.
Given the impeccable credentials and legacy of massive diamond discoveries by the Arctic Star leadership and the exploration work to date suggesting a strong diamond resource, it is a bit surprising to us that the company is still only commanding a market capitalization of less than C$12 million. We view this pullback from a 52-week high at 37.5 cents to around 20 cents as an unquestionable opportunity for us to start building our position in Arctic Star.
Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated five thousand dollars for its efforts in distributing the ADD profile on its web site and distributing it to its database of subscribers. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.
- Published in Arctic Star Exploration, Blog, Mining
Arctic Star Confirms Diamonds in a New Kimberlite Field, Finland
Arctic Star Confirms Diamonds in a New Kimberlite Field, Finland
Momentum Public Relations
Press Release: July 12, 2017
“Arctic Star views this new Project as a unique opportunity to advance a new diamond district“, says Buddy Doyle, VP Exploration of Arctic Star. “The 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}-owned Project offers diamond bearing kimberlites that allow for immediate further work to assess their economic potential. The Project is road accessible, and located on excellent infrastructure in mining friendly Finland.“
Vancouver, British Columbia–(Newsfile Corp. – July 12, 2017) – Arctic Star Exploration Corp. (TSXV: ADD) (FSE: 82A1) (WKN: A2DFY5) (“Arctic Star” or the “Company”) is pleased to announce that it has agreed to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest in a 243Ha Exploration Permit over the Black Wolf (Masta Susi) and the White Wolf (Valkoinen Susi) diamond bearing kimberlites (together the “Wolf kimberlites”) in northern Finland. The Exploration Permit is being acquired via a Share Exchange Agreement with the Finnish holding company (transaction details below).
Furthermore, the Company has filed application for an Exploration Reservation centered on the acquired Exploration Permit. The Reservation is approximately 95,700 hectares in size, and it provides Arctic Star with exclusive rights to acquire additional exploration permits for a 2 year period.
The combined regional exploration and diamondiferous kimberlite property has been named the Timantti Project (Timantti is Finnish for “diamond”).
Mr. Roy Spencer, who discovered the Wolf kimberlites also led the team that discovered the Grib Diamond Mine near Archangelsk, Russian Federation, has joined Arctic Star’s Board. “Kimberlites are likely to occur in fields – also known as clusters – which typically contain 30 or more separate kimberlites. The Wolf kimberlites are just the first discoveries in a more extensive cluster,” according to Roy Spencer. Roy continues: “There is good evidence for the existence of this field in the public domain. This data shows regional distribution of kimberlitic indicator minerals and diamonds in surficial tills. The Exploration Reservation will allow Arctic Star to explore the entire region”.
A 43-101 technical report titled, “Geological Report on the Foriet Diamond Property, Finland” authored by Kevin R. Kivi, P.Geo, of KIVI Geoscience Inc. has been filed by the Company on SEDAR. The author confirmed the diamond-bearing nature of the Wolf kimberlites by submitting samples collected from kimberlite float in overburden during a due diligence site visit. Microdiamond results are shown in Table 1.
Table 1: Micro-diamond assay results for the Arctic Star due diligence surface float samples, White Wolf kimberlite.
Kimberlite | Sample Weight Kg |
+0.106 mm |
+0.15 mm |
+0.212 mm |
+0.3 mm |
+0.425 mm |
+.60 mm |
Total Stones |
White Wolf | 18.9 | 23 | 16 | 13 | 4 | 2 | 0 | 58 |
Microlithics Laboratories Inc., of Thunder Bay, ON (“Microlithics”) is independent of the issuer, and is not ISO accredited. Kevin Kivi, P.Geo. has audited Microlithics to verify sample preparation and analytical methods for diamond recovery were appropriate.
Mr. Doyle continues “the opportunity for an economic discovery at Timantti is substantially improved by easier access than companies face in in northern Canada and Siberia. The Wolf kimberlites represent the first discoveries in a possibly more extensive diamondiferous kimberlite field.”
“Both Roy and Buddy have led Tier 1, major company diamond mine discovery teams, and previously collaborated on diamond projects in Finland and on the development of the Lihqobong Diamond Mine in Lesotho,” commented Mr. Patrick Power, President and CEO of Arctic Star. “Roy’s extensive local knowledge and experience will mean we can hit the ground running in Finland, and we expect to commence work immediately upon closing of the transaction.”
The Wolf kimberlites were discovered by European Diamonds PLC in 2005. The discovery team was led by Mr. Spencer. European Diamonds made the discoveries by drilling a low-magnitude magnetic high anomaly at the head of a prominent G10 pyrope garnet-bearing kimberlitic indicator mineral (“KIM”) train they had traced over 30km. In total eight (8) angled diamond drill holes were completed on the bodies. Some 41.2kg of kimberlite, which comprised pyroclastic and hypabyssal phases, were collected. In September 2005 European reported “microdiamond analysis at the laboratories of Kennecott Canada Exploration in Thunder Bay, Canada, identified a total of 42 small diamonds between 0.15 and 0.88 mm in size from 4 samples totaling 41.2kg in weight. Sample processing was performed to the ISO/IEC17025 standard. Eleven of the 42 diamonds have a longest axis equal to or greater than 0.5mm with the largest stone having a long axis of 0.88mm. Approximately 26{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the stones were white and some 38{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} were octahedrons“.
In 2006 European Diamonds changed its name to Kopane Diamond PLC. An 8.8t kimberlite sample was extracted from the Wolf kimberlites from two shallow backhoe trenches. These samples were run through a gravity separation circuit at the Finnish government facility in Outokumpu. 1.25 carats of stones greater than 1mm were recovered. The largest stone recovered was 0.09 carats.
Buddy Doyle further comments, “The high microdiamond count, 77 stones (greater than 0.15mm), from the two small samples totaling 60.1kgs (European plus Arctic Star Caustic Fusion samples) is a significant result. Backhoe trenching results are significant because they show the Wolf pipes contain diamonds of over 1mm.
The Wolf kimberlites occur on the Fennoscandian Shield which hosts the world class (multi-billion dollar revenue) diamond mines at the Arkhangelskaya kimberlite (Lomonosov Mine) and Grib kimberlite (Grib Mine), both near Arkhangelsk Russia (450km East of Wolf). In Finland the diamond bearing Kuopio kimberlite field occurs on the exposed Archaean Karelian Craton segment of the Fennoscandian Shield, south of the Timantti Project.
Arctic Star believes that the diamond bearing Wolf kimberlites signify the first discoveries in a new diamond bearing kimberlite field. This view is supported by public data showing “cloud” of KIMs distributed across an area that is some 80km wide and roughly centered on the Wolf kimberlites.
Patrick Power, President and CEO comments, “I believe that a commanding land position around the Wolf kimberlites is the key to ensuring our shareholders have maximum exposure to discovery in this new and exciting diamond district, which we believe offers high potential for numerous further diamond-bearing kimberlite discoveries. This to me is the most exciting aspect of the Timantti project.“
After closing the acquisition, the next steps are to quickly gain a better understanding of the Wolf kimberlites. The Arctic Star field visit confirmed the Wolf kimberlites contain both pyroclastic (formed near surface) and hypabyssal (formed at depth) kimberlite types. Arctic Star plans to complete detailed magnetic, gravity and EM (electro-magnetic) geophysical ground surveys, which will be used to target further drilling. Drilling will help define the shape and tonnage of each kimberlite and collect more material for caustic fusion analysis for microdiamonds. The microdiamond distribution will determine the parameters of a bulk sample (to determine diamond grade and value).
To swiftly discover more kimberlites on the Timantti Project, Arctic plans to fly airborne geophysical surveys to cover the entire region that hosts KIMs. The Company will improve targeting by detailed ground follow up of the indicator mineral anomalies in the area.
Arctic Star has entered into a Share Exchange Agreement dated effective June 7, 2017 and agreed to issue 14,500,000 common shares at a deemed price of $0.20 per share for all the right, title and interest to Foriet Oy, a Finnish company that has the 243Ha exploration permit over the Wolf kimberlites in North-Eastern Finland. 10,000,000 of the Arctic Star shares are to be issued to Dragon Equities Ltd., a UK company, which indirectly owns Foriet Oy, and 4,500,000 shares will be issued to the beneficial owners of a joint venture partner of Foriet Oy. On completion of the Share Exchange, Foriet Oy will become a wholly owned subsidiary of Arctic Star.
In addition to the 4 month hold period imposed by securities regulation, all shares issued in the transaction will be subject to a Value Securities Escrow Agreement whereby the shares are released over a 3 year period. Closing of the Share Exchange Agreement is subject to TSX-V approval.
The Company welcomes Mr. Roy Spencer and Mr. Scott Eldridge to the Board of Directors.
In addition to Mr. Spencer’s previously mentioned accomplishments, Roy is a GSSA Member and a Fellow of the AusIMM. Roy joined De Beers upon graduation from high school in 1966 and has been involved with exploration and deposit evaluation for gemstones and other commodities throughout his career. Roy’s tertiary education was at the University of Natal and Rhodes University in South Africa, and is a member of the Geological Society of South Africa and a Fellow of the Aus.I.M.M. As technical director of Peregrine Diamonds, he discovered the first kimberlites on the Pilbara craton in Western Australia in 1989, and as Leader of the Owners Team for Archangel Diamond Corporation he was largely responsible for the discovery of the world class Grib kimberlite in far northern Russia (February, 1996). In 1998, Roy created and raised the seed finance for Ilmari Exploration Oy to explore for gold, base metals and diamonds on the Karelian Craton in Finland. Ilmari went public in 2000, and discovered the Lentiira kimberlite cluster in central Finland in 2003.
In 2006, as CEO of London-based diamond explorer European Diamonds, Roy led the Owners Team which brought the Liqhobong kimberlite (Lesotho) into commercial production on time and under budget. In mid-2007, Roy left European, a company which had evolved into a successful mid-tier diamond producer and marketer after having raised £23 million over a 6-year period. Since that time Roy has continued in gemstone exploration and deposit evaluation in Africa, Finland and western Russia for a variety of junior and senior mining companies.
Scott Eldridge is experienced in the financial industry focused on the resource sector. He is a co-founder, President & CEO of Euroscandic International Group Inc., a private company offering accounting and investment banking services to natural resource companies. During his time in the industry Scott has been responsible for raising in excess of $500 million in combined equity and debt financing for mining projects varying from exploration to construction financing around the globe. Mr. Eldridge has a B.B.A. from Capilano University, and an M.B.A. from Central European University.
About Arctic Star: Arctic Star is an experienced diamond and mineral exploration company, with diamond exploration properties in Nunavut (Stein), the NWT (Diagras and Redemption) and in the Athabasca Basin of SK. The Company has been planning and de-risking its entry to Finland over the last year, and is pleased to present what it believes is the pre-eminent new field opportunity to shareholders in the Timantti Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARCTIC STAR EXPLORATION CORP.
“Patrick Power”
Patrick Power, President
+1 (604) 689-1799
Qualified Persons: The content of this news release has been read and approved by Roy Spencer, FAusIMM, a Director of the Company, who is a Qualified Person and has been read and approved Kevin R, Kivi, P.Geo., an Independent Qualified Person as defined by NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that the Timantti Project offers high potential for numerous further diamond-bearing kimberlite discoveries; Arctic’s drilling and surveying plans and the expected outcome of those plans; that Arctic can swiftly discover more kimberlite on the property; that the Wolf kimberlites themselves may have the potential to be economic; that the transaction will receive TSX approval and will close; the statements that Mr. Spencer will be a strong addition to the ADD discovery team, that the Exploration Reservations contiguous with the acquired claim package would be able to be explored.
Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to finance our intended acquisition or intended exploration and we may not obtain regulatory approval for the transaction.
The Wolf kimberlites assets have not been the subject of any recent resource work, much less a feasibility study and as such there is no certainty that any future resource will be defined or be able to produce a commercially marketable product. There is a significant risk that any future efforts at the project will not demonstrate any merit for work to evaluate for a defined NI 43-101 compliant resource and economic study. General risks inherent in the Project include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development, exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, possible political instability, share price volatility, estimate price volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law.
- Published in Arctic Star Exploration, Mining, News Home
Canadian Diamond Exploration Companies Have Reason for Optimism
Canadian Diamond Exploration Companies Have Reason for Optimism
Diamonds are associated with fine jewelry, but they are also the hardest natural minerals on earth. This property makes them highly prized for industrial cutting and polishing functions. Approximately 26,000 kilograms of them are mined worldwide annually. Whether they are found in Africa, Australia or in Canada, all of the world’s diamonds were born in exactly the same fashion.
How Diamonds were Formed
The circumstances leading up to the birth of the stones we call diamonds started about 3.2 billion years ago. At that time continents were forming on the Earth’s surface. Hundreds of kilometers below the surface, however, conditions were quite different. At pressures 50,000 times higher than the surface atmospheric conditions and temperatures reaching up to 1,300°C, new crystals with a lattice structure began to take shape.
The diamonds were formed in molten rock found between 125-200 kilometres below the surface. Some of the rarer stones originated at levels up to 400 kilometers down. When volcanic eruptions pushed magma up through the earth’s mantle toward the surface, the process was too rapid for the diamond’s crystal structure to degrade into graphite. As the volcanoes cooled over time, the diamonds remained locked inside immense cones of kimberlite (solid magma).
Diamond Exploration and Drilling
Kimberlites are relatively small (they generally have a surface area of less than 12 hectares), making them challenging to find. Their molten rock picks up other minerals along with diamonds. These kimberlitic indicator minerals rise to the surface and provide clues to the presence of diamonds.
Once kimberlite is located, tons of rock is collected from the top of the pipe and processed. Extracting this material to look for diamonds from the ground is not an easy process, since kimberlite tends to wear down more quickly than most of the rock surrounding it. As a result this creates depressions over the kimberlite pipes. The pipes fill up with water and glacial debris, which makes it difficult to get to the kimberlite.
If kimberlite is located, however, further diamond drilling and analysis must be conducted to learn about the extent of the deposit and its diamond content.
Diamond Mining in Canada
Canada is the fourth-largest diamond producer in the world. The country has active mines in the Northwest Territories and in Northern Ontario.
- The Diavik Mine is located about 190 miles north of Yellowknife in the Northwest Territories. Rio Tinto owns a 60 percent interest in, and operates the mine, which produces between six and seven million carats of large, “Gem-quality” diamonds annually. Harry Winston Diamond Mines owns the other 40 percent of the operation.
- The Ekati Mine has the distinction of being Canada’s first surface and underground mine. It is located in the Northwest Territories’ Lac de Gras region, about 300 kilometers northeast of Yellowknife. The mine has a reputation for producing high-quality gem diamonds. Its total cumulative production to January 2016 was approximately 63 million carats.
- The Victor Mine is located in the James Bay Lowlands of Northern Ontario, approximately 90 kilometers from the community of Attawapiskat First Nation. This open pit mine is Ontario’s first diamond mine and produces 600,000 carats annually.
- Gahcho Kué is situated 280 kilometres northeast of Yellowknife in the Northwest Territories and is Canada’s newest mine. One of the 10 largest mines in the world, it is expected to produce 4.5 million carats annually.
Canadian Diamond Exploration and Development
Currently, Canadian exploration companies are actively pursuing several projects. In January 2017, Kennady Diamonds announced diamond recovery results of 2.18 carats per tonne of kimberlite from its Kennady North Project in the Northwest Territories. The property is situated immediately adjacent to the Gahcho Kué mine.
DeBeers Canada announced that it will continue its search for diamonds in northern Saskatchewan in the fall of 2016. The company is involved in exploring a site north of the decommissioned Cluff Lake uranium mine. It optioned the site in May 2016 and can invest up to $20.4 million in four stages over a seven-year period. If the company completes all of the stages, it could earn a 90 percent stake in the property. The next step is to drill for targets on the 43,000-acre Northwest Athabasca Project site. The drill team is expected to work through the fall and winter months collecting samples.
Buddy Doyle (VP Exploration, Director at Arctic Star Exploration (ADD:tsxv) has 25 years experience in mineral exploration. He worked for Rio Tinto PLC for over 23 years, most recently he was Exploration Manager/Vice President of Kennecott Canada Exploration Inc. (owned by Rio Tinto), in charge of diamond exploration in North America. He was a key member of the Kennecott Exploration Australia team that discovered the multi-million ounce Minifie gold deposits at Lihir in 1987-1988 and led the team which discovered the Diavik diamond deposits in 1994-1995. Few geologists have seen 2 projects from discovery through to decision to mine. Arctic Star’s Diagras Property might prove to be his next world class discovery.
From Arctic Star’s website, “The Diagras Property consists of 23 contiguous claims staked by Arctic Star, with an area of 18,699 hectares. The property is in joint venture with Margaret Lake Diamonds whereby Margaret Lake has earned a 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} interest. The property is located in the north-eastern part of the prolific Lac de Gras kimberlite field, 22km NNE of the Diavik diamond mine and 36km east of the Ekati diamond mine in NWT Canada. The Company has verified through research and compilation that the property hosts over a dozen kimberlites, most of them diamondiferous. Arctic Star’s research and compilation of historical data in the public domain confirms that Diagras is a property of merit that deserves additional exploration.” For more information, click here
- Published in Arctic Star Exploration, Blog, Mining