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with commercial production scheduled for
Q2 2017.
Other diamond companies to watch
include Peregrine Diamonds Ltd. [PGD-
TSX] which has discovered 71 kimberlites
at its Chidliak Project, Nunavut, with eight
being potentially economically viable;
Kennady Diamonds Inc. [KDI-TSXV]
with four kimberlites hosting commercial
diamonds at its Kennady North Project,
Northwest Territories; and the adjacent
Mountain Province Diamonds Inc.
[MPV-TSX; MDM-NASAQ; MKT] De Beers]
Canada joint venture in the Gahcho Kué
Project.
North Arrow Minerals Inc. [NAR-
TSXV] released final diamond recoveries
from the Qilalugaq diamond project bulk
sample 9 km from the hamlet of Repulse
Bay (Naujaat), Nunavut. Diamond recover-
ies include 11,083 diamonds greater than
+1 DTC (~ 1 mm), weighing 384.28 carats
from 1,353.37 dry tonnes of kimberlite, for
an overall sample grade of 28.4 cpht (car-
ats per hundred tonnes). Some were rare
yellow diamonds. North Arrow is earn-
ing an 80% interest from Stornoway. See
Resource World Feb-March 2015 issue for
Saskatchewan diamond projects.
Marathon Gold Corp. [MOZ-TSX] has
been discovering more gold resources at
its 100%-owned Valentine Lake gold proj-
ect located 55 km southeast of Buchans,
west-central Newfoundland. To date, the
company has identified four gold deposits
on the property in a major gold system
with a strike length of over 18 km.
Marathon's new, independent NI 43-101
resource estimate has seen the overall mea-
sured and indicated resource increased by
30% from 816,000 oz gold at 2.24 g/t to
1.06 million oz gold at 2.20 g/t, with 87% of
the measured and indicated resource in the
in-pit resource category. Inferred resources
increased by 34% to 200,000 oz gold at 2.83
g/t. The Marathon deposit accounts for the
majority of this resource growth and repre-
sents a high potential area of the property.
Foran Mining Corp. [FOM-
TSXV] has been taking advantage of a
geological phenomenon where VMS depos-
its (volcanic massive sulphide) often occur
