De Beers Canada Exploration has agreed to process 100 tonnes of ultramafic breccia from the Festival diamond property of Pele Mountain Resources (YPN-V).
Festival covers 101 sq. km of the Wawa region of northern Ontario. Pele holds a 100% interest in the property.
The sample, taken from the Cristal showing, will be crushed to minus 12 millimeters before it is shipped to De Beer’s processing facilities at Grande Prairie, Alberta. The major is not charging a fee for its services, and no other strings are reportedly attached to the deal.
The Cristal showing is one in a cluster of five volcanic complexes discovered during the summer field season. All carry micro-diamonds, with a 39.4-kg sample taken nearby Cristal having yielded some 159 stones. Results are expected by year-end.
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