JV boosts Churchill congregation (June 29, 2005)

Drilling on the Churchill diamond project in Nunavut’s Rankin Inlet has turned up seven new kimberlites for partners Shear Minerals (SRM-V), Stornoway Diamond (SWY-T), and BHP Billiton (BHP-N).

The new bodies bring to 30 the total number of confirmed kimberlite occurrences on the project. Drilling targeted several magnetic anomalies, and retested one target where an earlier hole was lost due to bad ground conditions.

Representative samples from each of the kimberlites will be sent for microdiamond analysis at the Saskatchewan Research Council. Other samples will also be collected for petrographic and indicator-mineral analysis.

Shear has shifted its drilling focus to land-based targets from lake-based ones, with drilling slated to continue through the summer. The campaign aims to test up to 50 targets.

Shear operates and owns 51% of the project; Stornoway and BHP have 35% and 14% interests, respectively.

Since 2003 (and prior to the latest results), nearly half of the 25 kimberlites identified on the Churchill and Churchill West projects have proved diamondiferous.

The Churchill project comprises more than 28,000 sq.

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