Condor International Resources (COD-V), a member of the Northair group of companies, can acquire up to a half-interest in the Kikerk diamond property of Caledonia Mining (CAL-T) near Coronation Gulf, N.W.T.
The option was previously held by Portree, a private company controlled by Caledonia’s former chairman, Dennis McLeod.
Since 1994, Caledonia has conducted till sampling, airborne and ground geophysical surveys and drilling in its search for diamondiferous kimberlites. The work has led to the identification of five high- priority kimberlite drill targets. All five sit at the up-ice termination of well-defined indicator-mineral trains and are coincident with circular lakes.
Most of Caledonia’s efforts have been focused on the Hunter East property, on which numerous G10 garnets have been found.
Plans for the current year include infill till sampling and ground prospecting, as well as diamond drilling.
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