North Atlantic acquires diamond prospects

North Atlantic Nickel (YNN-V) has acquired 13 claim blocks on the Marmion diamond project near Thunder Bay, Ont.

The claims measure 12 sq. km and contain 13 kimberlite targets. The targets were discovered in a 1,000-km, high-resolution airborne magnetometer survey, which was completed in June.

The Marmion Domain is an ancient, stable, granitic block of crust within the Superior Craton (similar to the Sachigo Domain) in northern Ontario. This area has several diamond-bearing kimberlite intrusions, including the Victor Pipe near Attawapiskat, where De Beers is conducting bulk sampling.

In 1999, an Ontario Geological Survey lake sediment survey identified two clusters of chromium anomalies in lake sediment in the granitic Marmion Domain. Chromium is not normally concentrated in granitic rocks, but it is abundant in kimberlite. A magnetometer survey over the chromium zones identified 13 discrete anomalies.

In addition, a northeast-trending, linear magnetic anomaly (interpreted as a mafic or ultramafic dike) was discovered by the magnetometer survey. A cluster of lake sediment anomalies containing up to 13 parts-per-billion platinum, plus nickel and other elements, coincides with a structurally disrupted segment of the dike.

North Atlantic will immediately begin a program of prospecting, mapping and stream and till sampling, in search of diamond indicator minerals. Results are expected in the early fall.