Canadian International Minerals Targets Diamonds in Saskatchewan

Monday was a big day for junior explorer Canadian International Minerals (TSXV:CIN), which acquired via staking a 100-percent interest in the Bigstone Lake properties, located in Northeastern Saskatchewan. The properties, the company’s press release states, are made up of 22 claims that together total 25,102 hectares.

In addition, the company acquired a 50-percent interest in the Three Amigos property, a single 4,871-hectare claim that’s contiguous to the main block of the Bigstone Lake properties. It will be a 50/50 joint venture with privately held New Moon Minerals.

While exciting, the news was likely not a surprise for those who have been watching Canadian International Minerals. After all, midway through March, the company acquired a 25-percent interest in the private Reindeer River Syndicate, which holds 33 claims that together add up to 67,350 hectares. The claims cover about 80 kilometers of a “major regional fault structure in the interpreted Saskatchewan Craton,” and the syndicate said at the time that it would be looking into their uranium and diamond potential.

Canadian International Minerals’ move is also unsurprising in that it’s a continuation of a recent trend: interest in diamonds in Saskatchewan.

Sparking that interest was North Arrow Minerals‘ (TSXV:NAR) November 2013 announcement that it had returned high microdiamond counts from the PK 150 kimberlite at its Saskatchewan-based Pikoo project. Since that time, a number of companies have flocked to the same area, including Alto Ventures (TSXV:ATV), Cavan Ventures (TSXV:CVN) and Copper Reef Mining (CNSX:CZC). For its part, Canadian International Minerals is now exposed to about 97,323 hectares of ground in the vicinity of Pikoo.

In terms of what’s next for the company, Monday’s press release states that it is in the midst of “compiling and evaluating an airborne geophysical survey conducted in 2006.” It was originally flown and evaluated for base metals, but is now being re-evaluated for kimberlite targets.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 

Related reading: 

Diamond Mining Hopefuls Follow North Arrow to Saskatchewan