Kennecott expands Rocky Island JV

Results from regional and follow-up till sampling on the Rocky Island Lake joint venture in north-central Ontario have prompted Kennecott Canada Exploration to stake more than 400 sq. km of additional ground in 15 townships.

The Rio Tinto (RTP-N) subsidiary is exploring a package of properties held by Canabrava Diamond (CNB-V) and Paramount Ventures & Finance (PVF-V) along-trend of the Kapuskasing structural zone, northeast of Wawa.

Kennecott can earn a 60% interest in the package by spending $25 million over seven years. The joint venture covers Canabrava’s wholly owned Whitefish property, plus the KAP and Rocky Island Lake properties, which are owned 50-50 by Canabrava and Paramount.

The till sampling at Rocky Island Lake was designed to cut off the up-ice extension of 11 previously identified kimberlite indicator mineral trains. Recent work at the project has resulted in the discovery of two diamond-bearing kimberlite boulders within one of the well-defined indicator mineral trains. The two boulders are several kilometres apart.

A 107-kg sample from one of the boulders yielded four microdiamonds and two macrodiamonds. The stones are described as transparent white fragments. Three of the diamonds display remnant octahedral form, while the remaining three are irregular fragments. A 142-kg sample from the second boulder returned a single stone, which is unusual in that it is deep-green.

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