Saturday 1st October 2016

Resource Clips


Diamond fever hits the NWT

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SouthernEra Resources, which headed up the exploration team, reported 226 diamonds in a 581-kilogram sample including 62 macro diamonds.

The property also hosts four additional kimberlite indicator mineral trains whose kimberlite sources have yet to be identified, according to the company.

Jody Dahrouge, president of Dahrouge Geological Consulting, staked the properties for Prima.

“Our first read of the Munn Lake kimberlite is that it’s a couple-of-metres-wide dyke, similar to the Snap Lake diamond mine,” Dahrouge explains. “Then there are a few boulders sitting down ice that are 25 metres in diameter. How can you squeeze a 25-metre-wide boulder from a two-metre-wide body? It seems to indicate another kimberlite source bigger than the already identified Munn Lake sill. It might be from a blow, it might be from a pipe located elsewhere.”

Dahrouge notes that at Godspeed, “huge swaths of this property have never seen a sample, particularly the southern half. The northern half, the area closest to Gahcho Kué, has really seen very limited sampling. So it’s an unexplored jewel, yet to be cracked, in the middle of a kimberlite cluster, which is fortunate for us.”

Diamond exploration is all about closeology and we are in a great area code. Not only is Gahcho Kué a world class diamond resource but within a circumference of 100 kilometres the area is dotted with diamondiferous kimberlites.—Robert Bick, president/CEO
of Prima Diamond

“Diamond exploration is all about closeology and we are in a great area code,” Prima president and CEO Robert Bick comments. “Not only is Gahcho Kué a world class diamond resource but within a circumference of 100 kilometres the area is dotted with diamondiferous kimberlites.”

Bick notes that the market for diamonds, unlike that for gold and base metal commodities, remains strong. Globally, production has dropped 26% compared to 2005, and newly affluent members of the middle class in China, India and Indonesia are helping push year-over-year growth in demand for diamonds by 5.1% compounded annually.

One advantage that Prima has over SouthernEra is the advances in geological survey technology over the last 15 years. Godspeed is considered an excellent exploration candidate for airborne gravity surveys.

Air gravity gradiometry studies might confirm and generate additional targets for future drilling on both Munn and Godspeed lakes.

Neil McCallum, a project geologist with Dahrouge, uses words such as “straightforward” and “simple” to describe the opportunity for Prima.

“The closeology is an important consideration for Godspeed, considering its proximity to Gahcho Kué,” McCallum says. “As for Munn Lake, we’ve got diamondiferous kimberlites and boulders and really nice-looking targets based on indicator sampling. Prima has the right real estate in a prolific area. This is clearly a very prospective diamond play.”

Reprinted by permission of Market One Media.

Read about diamond markets, geology and exploration.

Disclaimer: Prima Diamond Corp is a client of OnPage Media Corp, the publisher of ResourceClips.com. The principals of OnPage Media may hold shares in Prima Diamond.

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