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Arctic Star seeks Athabasca Basin diamonds

by Greg Klein | July 21, 2016

Saskatchewan’s Athabasca Basin is a busy place for uranium activity but remains underexplored for diamonds, Arctic Star Exploration TSXV:ADD believes. The Diamond Dunes acquisition announced July 21 now gives the company a 40,831-hectare presence in an area that’s attracted CanAlaska Uranium TSXV:CVV and De Beers Canada.

Arctic Star seeks Athabasca Basin diamonds

Diamond Dunes consists of two claim blocks southwest and southeast of CanAlaska’s West Athabasca project, where magnetics flown by the Saskatchewan Geological Survey show 75 circular signatures prospective for kimberlites.

In May CanAlaska announced an option with De Beers that could total $20.4 million in exploration spending over seven years for a 90% interest. Last month De Beers finished a sampling program for kimberlite indicator minerals. The next stage calls for more detailed airborne magnetics.

Arctic Star gets a 100% interest in the Diamond Dunes property for $25,000 and one million shares.

Read Chris Berry’s report on the diamond sector.

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