Resource World Magazine

48 www.resourceworld.com o c t o b e r / n o v e m b e r 2 0 1 6 miNiNg I n May this year, the market's atten- tion focused on the $20 million staged option-participation deal made between CanAlaska Uranium Ltd. [CVV-TSX; CVVUF-OTCQB; DH7N-FSE] and De Beers Canada, a division of Anglo American Group. That agreement spawned a new round of speculation fever in the Saskatcehwan diamond camp and helped triple CanAlaska's stock in just four months. The claims staked by CanAlaska cover 75 kimberlite-style magnetic targets in northwestern Saskatchewan that were identified via a high-resolution, airborne geophysical survey performed on behalf of the Saskatchewan Geological Survey in 2011. A more recent detailed low-level airborne survey has identified 85 magnetic anomalies, enclosing 258 magnetic targets. The geophysical surveys revealed a series of discrete magnetic anomalies with a shallow signature located northeast of the Carswell structure and close to a large crustal structure, known as the Grease River Shear Zone. The Saskatchewan government Kimberlite Indicator Mineral sampling (KIM) programs did not cover the down-ice trend of these specific magnetic anoma- lies. However, KIM trends in the Fort McKay-Fort McMurray area in Alberta are down-ice from other kimberlite targets CanAlaska identified in the northwestern Athabasca region. These indicator minerals contain some pyrope and eclogitic garnets which are a positive sign. In addition, the basement rocks beneath the Athabasca sandstone, in the target area, are the same rocks that host diamond-bearing kimber- lites in Nunavut. "These circular targets fit all the geo- physical criteria of kimberlites," commented Peter Dasler, President of CanAlaska. "The clustering of the targets around major geo- logical structural features within the Rae Province basement rocks is added impetus for immediate investigation." All these geologic clues taken together prompted CanAlaska to stake the ground that DeBeers is now spending $20.4 mil- lion on, over seven years to acquire a 90% interest. With market speculation now well underway, the real work has commenced in earnest. De Beers has already completed a very detailed low-level airborne survey over the Athabasca diamond project as well as a KIM sampling program. Most of the near surface magnetic anomalies coin- cide with lakes, or are in swamps. De Beers wasted no time and recently announced that it has begun a drill pro- gram that will test 11 kimberlite targets. The remaining targets, many of which are located under small lakes and swamps, will be drilled during the winter months. The first few holes have already been drilled. They tested near surface targets, X0031 and X0017, located at the extreme west of the project. DeBeers reported that the overburden was 22-36 metres deep but neither target was a kimberlite. These two anomalies could be explained by a slight enrichment of magnetic materials near the base of the overburden. "While finding economical diamond- New diamond play emerging in Saskatchewan by Thomas Schuster a geologist looks out over a promising kimberlite target in the Canalaska/De Beers West athabasca diamond project in the athabasca Basin of northwest Saskatchewan. eleven kimberlite targets with various features are scheduled to be drilled in the current program, with the balance to be tested this winter, depending on results. photo courtesy Canalaska Uranium Ltd.

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