DIAMOND PAGE — Shore Gold buys out Saskatchewan partner

Saskatoon, Sask.-based Shore Gold (SGF-A) has taken complete control of the Fort la Corne diamond project it had shared with Rio Nevada Mines (RN-A).

Rio Nevada sold its 25% interest to Shore for 250,000 shares and a 3% net profits interest.

Shore now holds 12,545 ha in the Fort la Corne area of the province.

The first phase of drilling identified diamondiferous kimberlite. Early samples yielded four diamonds larger than 0.5 mm and 63 smaller than 0.5 mm. The diamonds were extracted from 164 kg of drill core. The second phase, now under way, will see the extraction of a mini-bulk sample.