Modern geophysics and a new approach come to a property with diamondiferous kimberlites in the Northwest Territories’ prolific Lac de Gras region, as Margaret Lake Diamonds TSXV:DIA and Arctic Star Exploration TSXV:ADD start work on their Diagras JV. Expected to finish in mid-May, the program consists of ground gravity, magnetics and Ohm Mapper EM.
Margaret Lake and Arctic Star hold a 60% and 40% stake respectively, with Margaret Lake acting as project operator.
The companies hope to find non-magnetic evidence that was missed in the 1990s when De Beers flew airborne surveys that identified the property’s magnetic kimberlites.
Diagras hosts 13 known kimberlites, most of them diamondiferous, according to historic data. The property’s Jack Pine kimberlite shows “multiple phases with different geophysical responses,” the JV stated. “It is hoped that our planned surveys will reveal similar geology around the other pipes. There is also a good chance to find new kimberlites using these new ground geophysical techniques.”
In November the JV attributed those techniques to Kennady Diamonds’ (TSXV:KDI) progress at Kennady North, Lac de Gras’ most advanced exploration project.
Results of the Diagras program will be considered for follow-up drilling.
In January Arctic Star applied for a drill permit for its 100%-held CAP niobium-tantalum-REE property in north-central British Columbia. The company raised over $1.47 million in private placements that closed late last year.