During 2013, North Arrow conducted a limited drill program to test two distinct kimberlite indicator mineral trains on their Pikoo Property. The PK 150 kimberlite returned 745 diamonds larger than 0.106 from 209.7 kg of drill core – 95% of the diamonds were intact, white octahedrons or aggregates.
The estimated total recovery sample grade for diamonds greater than 0.85 mm (23 commercial size diamonds) was 1.34 carats per tonne.
The southern boundary of North Arrows Pikoo Project is just a few kilometers from the village of Deschambault Lake and connection to Saskatchewan’s highway and power networks.
There are rumors floating around regarding a major diamond player taking a piece of a junior in the North Saskatchewan Craton Diamond Play. And why not? Diamond majors have a long history in Canada - they have been extremely active in Canadian diamond exploration for decades and have a history of working with junior partners. It's also the best time, as in the cheapest time, for them to come in.
I expect them to show up - they always do. Let’s list, and take a closer look, at some of the junior players.
North Arrow NAR.v – Led by one of Canada’s pre-eminent diamond explorationists – Gran Thomas - they have the technical expertise but the share structure is difficult only owning 80% of what many consider a smallish Pikoo Project. Indicator chemistry is off the charts and drill results were exceptional for such an early stage. The Co.’s new presentation highlights, but does not show the location of three high priority targets, why not?
Incredibly they seem to have made the same mistake as previously - they did not stake enough ground and left open ground for others. Expect field work this summer followed by drilling late this fall. Money is not a problem.
Alto ATV.v – ATV has a very interesting property next to the Pikoo discovery of NAR. Unfortunately share structure here is even more difficult as they own just 60%. Money is not a problem for a while as they have close to a million in the treasury and will do a sampling program this year.
Strike Graphite SRK.V – Needs a name change and new board. Too many associate this rebirth with the out of control selling of their own deal by the previous principals last time around. Shares for debt has worked out well, most of the paper is in strong hands. Ryan Kalt’s property has some good targets, so too will that of Jody Dahrouge. This could be a very promotable deal and with such an immense land package there will no doubt be many option/JV deals with other juniors. There’s a need to raise money but a new board will not have a problem doing that. This is one I do not want to see go to a major like DeBeers, Dominion Diamonds or another big player.
Canadian International CIN.v – This one might be a good prospect for a major – they do have a lot of extremely interesting high priority targets and would seem to have a bulls eye on their back.
Management can’t seem to raise money, maybe they have $100k in the bank after two financings, lots of debt paper out there, with the first of it hitting the market in early July.
The largest problem here is with what CIN considers its best targets – The Three Amigo’s. This is a 50/50 deal with a private company that needs to be 100% CIN’s.
The other negative, a minor sore point, against a CIN/Major hook up is the company pin point staked a lot of targets, understandable when money is scarce, but left the surrounding ground open, which was immediately staked by others.
Other players in the area include:
Copper Reef Mining CZC.v
La Ronge Gold Corp LAR.v
CanAlaska Uranium CVV.v
Foran Mining FOM.v
Claude Res. CRJ.t
Eagle Plains EPL.v
Also under consideration, and has to be close to the top of every ones deal list, is a private concern. Shaun Spellicy staked an immense land package in the heart of prime North Saskatchewan Craton diamond hunting ground. And he’s working it. Crews are already on the ground and from what I’m hearing there’s considerable excitement being generated.
Conclusion
With the amazing Pikoo discovery of North Arrow Minerals, North Central Saskatchewan has shown that it hosts the right conditions for diamond formation. This should keep Saskatchewan on the map for a very long time as far as diamond exploration investors are concerned.
It’s this author’s opinion that this new diamond district could eventually rival the Slave Craton bringing back the excitement of the initial diamond discoveries by Chuck Fipke and Dia Met.
The fact that diamonds lifted the Venture out of its doldrums not once but twice should be on everyone’s radar screen. Is a North Saskatchewan Diamond Hunt on your screen?
If not, it should be.
Richard lives with his family on a 160 acre ranch in northern British Columbia. He invests in the resource and biotechnology/pharmaceutical sectors and is the owner of Aheadoftheherd.com. His articles have been published on over 400 websites, including:
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This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.
Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.
Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Richard Mills only and are subject to change without notice. Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.
Furthermore, I, Richard Mills, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.
Richard owns shares of Canadian International Minerals TSX.V-CIN and plans to buy shares of Strike Graphite TSX.V-SRK. For a look at Richards entire portfolio click here.
