Pipes found on Victoria Island

With five new kimberlite discoveries under their belt, Diamonds North Resources (DDN-V) and Canabrava Diamond (CNB-V) are embarking on a helicopter-borne geophysical survey to firm-up additional drill targets at the Hadley Bay joint venture on Victoria Island in Nunavut.

Four closely spaced kimberlite bodies, dubbed Apollo, Diana, Neptune and Pluto, were found while drilling four separate magnetic features along a 1.5-km-long structural trend. The four kimberlites are part of a group of 10 distinct magnetic features. The other six targets will be drill-tested pending the outcome of microdiamond analysis on the new discoveries.

In addition, a new, 1-metre-wide kimberlite dyke was intersected by two shallow holes into the Juno anomaly, representing a northwesterly oriented linear feature. During the first pass of drilling at Hadley Bay, Diamonds North intersected kimberlite in 11 of 13 holes. The previously known King Elder pipe was further tested with two holes and found to be much larger in size. Ground geophysics shows the King Elder pipe to have a signature measuring 200 by 300 metres.

Canabrava can earn a half-interest in the Hadley Bay project from Diamonds North by spending $5 million on exploration over four years and issuing 250,000 shares.