JV taps Churchill pipe

Vancouver — Early drill results from the Churchill diamond project in Nunavut’s Rankin Inlet are encouraging.

The first hole tested a circular magnetic high, intersecting kimberlite at a depth of 12 metres.

Geophysical targets are in the Sedna and Josephine River corridors. Till sampling in the two areas previously returned anomalous kimberlitic indicator minerals with prospective diamond geochemistry.

The current program will shift to land-based targets once the ice melts.

The project is owned 51% by Shear Minerals (SRM-V), which is also the operator. Stornoway Diamond (SWY-T) and BHP Billiton (BHP-N) have 35% and 14% interests, respectively.

Since 2003, 25 kimberlites have been discovered on the Churchill and Churchill West projects, and almost half have proved diamondiferous.