The hole, drilled at a 60 degrees angle, intersected the kimberlite at 37 m and was still in the formation when the hole was lost at 145 m, said Chris Jennings, Corona’s vice-president of exploration.
“We’ve stopped drilling now and are going to get this processed as fast as possible,” said Jennings.
Corona said that it would take a minimum of three months to evaluate the economic potential of the kimberlite, but Jennings said that results would probably be available much sooner.
Kimberlite is an ultra-mafic rock of volcanic origin that occurs in swarms of pipes and sills. Less than 1% of kimberlites contain economic quantities of diamonds.
The Sturgeon Lake claims are near to the secretive exploration site of Monopros Ltd., an affiliate of South African diamond giant, de Beers Consolidated Mines. In December Monopros reported to the Saskatchewan government that it had found kimberlites on its claims but that they were “unlikely” to be economic.
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