Diamonds North finds more kimberlite on Victoria Island

Exploration drilling by Diamonds North Resources (DDN-V) at the Blue Ice property on Victoria Island in Nunavut intersected a new kimberlite target and tested the known Snow Bunting kimberlite before shutting down and moving on to the Hadley Bay project for a 10-hole program.

Diamonds North was unable to test the new kimberlite discovery properly, as thick overburden covering anomaly 5363 created problems for the drill rig. One hole was lost in overburden, while two others ended prematurely in kimberlite after the drill rods twisted off.

A 20-metre-long intercept of kimberlite was pulled from the Snow Bunting dyke-like body. De Beers previously discovered the Snow Bunting body in 1997. A 137-kg sample returned 23 microdiamonds. Diamonds North says the body is 10 metres wide and up to 250 metres long. Blue Ice is wholly owned.

The first hole on the Hadley Bay joint venture hit 32 vertical metres of kimberlite breccia while testing a magnetic low anomaly. The new discovery is called Apollo.

Canabrava Diamond (CNB-V) can earn a half interest in Hadley Bay by spending $5 million and issuing 700,000 shares to Diamonds North over four years.