Shear adds to Churchill discoveries

Spurred on by promising pyrope garnet indicator-mineral till chemistry, Shear Minerals (SRM-V) has added to the number of kimberlites at its Churchill diamond project in Nunavut, with the discovery of four new bodies.

This year’s drill program began at the end of August and is designed to test up to 20 high-priority targets. The project is north of the community of Rankin Inlet in the eastern Arctic. A year ago, Shear, with the assistance of joint-venture partners Stornoway Diamond (SWY-V) and BHP Billiton (BHP-N), drilled a total of 26 geophysical targets that were supported by limited geochemical sampling data. In the process, they discovered 18 kimberlites over a wide area on the Churchill claims, including two at Churchill West, an adjoining property under option to International Samuel Exploration (SAZ-V). Ten of the kimberlites proved to be weakly diamondiferous.

In 2003, the joint venture improved the sample density by collecting more than 1,800 heavy mineral samples. The results have been used in part to direct the 2004 program. The new discoveries occur in distinct corridors where high-interest indicator minerals have been recovered in till samples. Last year’s kimberlite discoveries are outside these areas of interest.

The joint venture’s landholdings encompass more than 34,000 sq. km and are held 51% by Shear, 35% by Stornoway and 14% by BHP Billiton.