Stornoway Diamond Corporation (SWY:TSX) has been informed by its joint venture partner, Shear Minerals Ltd. (SRM:TSXV)(?Shear?) of the discovery of the Killiq kimberlite at the Churchill Diamond Project, Nunavut.
The Killiq kimberlite was discovered during reverse circulation (?rc?) drilling in a high interest mineral chemistry area within the Sedna Corridor. Based on geophysical data, the Killiq kimberlite is a magnetic high dyke-like kimberlite interpreted to be a 1.1 km long trending north-south kimberlite dyke. Four angled rc holes from three different drill set ups over a 25 m length were drilled into the Killiq kimberlite and it was found to average 0.75m in width. Based on visual observations, the Killiq kimberlite is described as typical of a high diamond potential Type B kimberlite with olivine macrocrysts, green-blue phlogopite and visible pyrope garnets.
Killiq is located 150m up ice from the highest count indicator mineral till sample (07C441) from 2007 with 245 picked grains including 136 pyrope garnets. A 35 kg sample of Killiq has been sent for diamond analysis at the Saskatchewan Research Council plus for petrography by Mineral Services Canada Inc. Based on the samples examined, the Killiq kimberlite is similar in character to the high grade PST kimberlite (2.18 carats per tonne) located 300m directly up ice. Additional high count down ice indicator mineral results suggest additional undiscovered multiple kimberlite sources nearby.
?This new kimberlite discovery in conjunction with the known till results in this immediate area suggests a network of high diamond grade kimberlites in this area of the Sedna Corridor?, said Pamela Strand, President of Shear Minerals Ltd. ?Additional detailed till sampling will assist in future targeting.?
The Churchill Diamond Project is owned 41.86% by Stornoway and 58.14% by operator, Shear and is comprised of the diamond rights to more than one million acres located near the full service communities of Rankin Inlet and Chesterfield Inlet in the Kivalliq region of Nunavut. Work is presently focused on continued exploration of new promising indicator mineral trains and geophysical anomalies as well as the evaluation of a system of significantly diamond-bearing, vertically-emplaced kimberlite dykes that have returned sample grades of up to 2.18 carats per tonne. Pamela Strand (P.Geol.) is Shear?s qualified person reviewing the project and has reviewed the content of this news release.
Stornoway Diamond Corporation
Stornoway Diamond Corporation is one of Canada's leading diamond exploration and development companies, involved in the discovery of over 200 kimberlites in seven Canadian diamond districts. The Company benefits from a diversified diamond property portfolio, a strong financial platform and management and technical teams with experience in each segment of the diamond "pipeline" from exploration to marketing.
On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"
Chief Executive Officer