Diamond

Stornoway Diamond (TSX:SWY) has announced the discovery  of kimberlite at its Adamantin Project located south of the Renard Diamond Project and west of the Route 167 Extension in Quebec. To date, 11 distinct kimberlite bodies have been identified. As quoted in the press release: Till sampling at Adamantin during 2015 confirmed the presence of indicator …

Stornoway Diamond (TSX:SWY) has announced the discovery of kimberlite at its Adamantin Project located south of the Renard Diamond Project and west of the Route 167 Extension in Quebec. To date, 11 distinct kimberlite bodies have been identified.
As quoted in the press release:

Till sampling at Adamantin during 2015 confirmed the presence of indicator mineral anomalies interpreted to be sourced from undiscovered kimberlites with diamond potential, with one till sample containing a diamond from the +0.25mm-0.50mm size fraction. Drilling commenced on March 20, 2016, with a light weight, helicopter portable, reverse circulation (“RC”) drill rig designed to test multiple geophysical targets within a broad indicator mineral anomaly.
As of the suspension of drilling on May 1st, kimberlite had been intersected in 18 of 78 drill holes (including 7 lost holes) testing 72 geophysical targets. These intersections are interpreted to represent at least 11 discrete kimberlite bodies. Additional high priority targets under lakes could not be tested due to deteriorating ice conditions.

Matt Manson, president and CEO said:

We are encouraged by the early drilling at Adamantin which has discovered a spatially extensive field of kimberlite emplacement in an area that we knew to have promising indicator mineral chemistry and where we had already found a diamond in till. To our knowledge, this is the first new field of kimberlites discovered in Québec in more than 10 years. Our drilling was curtailed by melting ice conditions before we were able to test all of our best targets, and we believe additional kimberlites remain to be discovered. Sufficient samples have been recovered from each body to arrive at a preliminary sense of diamond content, which will now be our immediate priority. Additional drilling will be required to test the full areal extent of the kimberlite field, and to test for larger kimberlite pipes or blows beneath the lakes, as well as the size potential of the bodies that have already been discovered.

Click here for the full press release.

Featured

MARKETS

Markets
TSX20083.22-538.17
TSXV811.00-45.62
DOW33545.73-719.64
S&P 5004281.52-116.42
NASD13343.68-425.24
ASX7175.80-166.60

COMMODITIES

Commodities
Gold1833.74-0.45
Silver23.65-0.62
Copper4.41-0.11
Palladium2148.00+51.00
Platinum1018.00-12.00
Oil82.57-2.57
Heating Oil2.58-0.06
Natural Gas4.01+0.01

DOWNLOAD FREE REPORTS

×