Diamonds North pulls 0.74-carat stone from Blue Ice

Vancouver — Sampling at Diamonds North Resources‘ (DDN-V) Blue Ice project on Victoria Island in the Northwest Territories has returned several significant diamonds.

Drill testing of the King Eider kimberlite recovered 432 diamonds weighing a total of 1.3 carats. The composite sample weighed 680 kg and included a 0.74-carat stone. The macrodiamond population was 23%, or 102 stones, based on a minimum size of 0.5 mm over one dimension.

A second composite sample, consisting of 120 kg and taken from a different zone of the multi-phase King Eider kimberlite, returned 17 microdiamonds (measuring less than 0.55 mm in at least one dimension).

The project is in a 25-km kimberlite corridor that hosts several pipes. Project operator Teck Cominco (TEK-T) is earning up to a 70% interest in the project from Diamonds North, and the major also funded last year’s $3-million exploration program.

Diamonds North recently teamed with Stornoway Diamond (SWY-T) to explore the Manitoba Highlands project in the James Bay Lowlands.

The project encompasses more than 3,600 sq. km of the Superior Craton in a geological setting similar to De Beers Canada‘s Attawapiskat kimberlite field, where it is developing the Victor pipe.

In 2004, Diamonds North flew a 15,000-line-km airborne magnetic survey indicating 50 anomalies. As well, sampling recovered several kimberlite indicator minerals.

The two companies will fund the exploration effort on a 50-50 basis with Diamonds North as operator.