Kimberley Diamonds Acquires Argyle Smoke Creek Project

Kimberley Diamonds Ltd. (ASX:KDL) announced that it has acquired the Western Australia-based Argyle Smoke Creek alluvial diamond project from Venus Metals Corporation Ltd. (ASX:VMC).

As quoted in the press release:

The Smoke Creek Diamond Project comprises 22 Prospecting Licences and one Mining Lease application covering 11 kilometres of unmined diamondiferous gravels located within the downstream portion of Smoke Creek, a tributary leading from Rio Tinto’s Argyle Diamond Mine, the world’s primary source of rare and highly valuable pink diamonds.

Venus Metals acquired the 22 Prospecting Licences in 2008 following their surrender by Argyle Diamond Mines Pty Ltd (a subsidiary of Rio Tinto) which held them since 1983.

The Smoke Creek Diamond Project has an Inferred Resource of 21.5 Mt at an average grade of 28 carats per hundred tonnes (cpht) for 6,000,000 carats, using a cut-off of 10 cpht.

Click here to read the full Kimberley Diamonds Ltd. (ASX:KDL) press release.