MONTREAL – Stornoway Diamond Corp. has updated the exploration plans for two of its joint ventures – the Pikoo project in Saskatchewan and the Qilalugaq project in Nunavut. Both are joint ventures with North Arrow Minerals that may acquire an 80% interest in each project subject to a one-time back-in right of Stornoway.
At Pikoo (120 km east of La Ronge) during 2013, North Arrow completed 2,002 metres of drilling, discovering the PK150 kimberlite. The pipe is interpreted to be 10 to 15 metres wide, nearly vertical and having a strike length of 75 metres. It is also open at depth and along strike. A 209.7-kg sample of drill core from PK150 returned 745 diamonds larger than 0.106 mm, including 23 commercial sized diamonds larger than 0.85 mm. The diamonds had a total weight of 0.2815 ct.
Stornoway said it has not exercised its back-in at Pikoo, but rather work would proceed as an 80% North Arrow, 20% Stornoway joint venture.
At Qilalugaq (near Repulse Bay) the project includes the Qilalugaq kimberlite pipes and the Naujaat system of kimberlite dykes. The Q1-4 pipe is the latest in the eastern Canadian Arctic. Stornoway announced an inferred resource 26.1 million ct from 28.8 million tonnes that average +1 DTC total diamond content of 54.8 cpht from surface to a depth of 205 metres.
North Arrow will fund the $3.7 million, 1,500 bulk sampling program to begin in July at Qilalugaq. The goal is to recover a 500-ct diamond parcel of commercial size, larger than 0.85 mm.
Information about Pikoo and Qilalugaq is available at StornowayDiamonds.com and at NorthArrowMinerals.com.
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