Canadian International Minerals Gains Stake in Arc Diamond Project

Canadian International Minerals Inc. (TSXV:CIN) announced that it’s acquired an 80-percent working interest and operatorship for the Saskatchewan-based Arc diamond project.
As quoted in the press release:

The project is approximately 33,014 acres (13,330 hectares) in size and is infrastructure-rich, with a major regional highway bisecting the property.
Portions of the project were previously worked by Mountain Province Mining Inc. and Consolidated Pine Channel Gold Corp. during the surge of diamond exploration activity that followed the discovery of the Fort-a-la-Corne kimberlites. While this work yielded a number of FALC-style kimberlite targets which were never drill-tested, the Company believes the project would be better served exploring for Pikoo-style kimberlites.

Michael E. Schuss, president and CEO of Canadian International Minerals, commented:

The Arc Diamond Project adds a high-working interest diamond prospect, on trend with the FALC, Candle, and Pikoo kimberlites. Canadian diamond exploration has advanced dramatically since this region was first explored by Pine Channel and Mountain Province in the early 1990’s. The historical airborne magnetic surveys covering this project were flown on 300 to 400 meter line spacings, whereas modern surveys targeting kimberlites are much tighter spaced, in the 75 to 150 meter range. We believe that any Pikoo-style kimberlites in the area would have been missed by the previous surveys.

Click here to read the full Canadian International Minerals Inc. (TSXV:CIN) press release.