Resource World Magazine

50 www.resourceworld.com o c t o b e r / n o v e m b e r 2 0 1 6 tic of magnetic features, thought to be kimberlite pipes, intruding into the thick Athabasca sandstone sequence. A high-resolution airborne magnetics survey encompassing 1,770 line-km has been commissioned for the property by Canterra. Randy Turner, President and CEO of Canterra, stated, "We are excited to be working with CanAlaska. CanAlaska has been inno- vative in their approach to diamond exploration and identified many new targets in northwestern Saskatchewan, a region we believe has the potential to host a new Canadian kimberlite field." Canterra can acquire a 50% interest in the property by making staged cash payments totaling $100,000, issuing 2 million shares and spending $1 million on exploration by the third anniversary of the deal. Canterra can earn another 20% for an additional cash payment of $100,000, an additional issuance of 1 million shares and spending a further $4 million on exploration within the third anniversary of completion of the initial 50% earn-in. Makena Resources [MKN-TSXV] has also seized the opportu- nity to acquire ground in the Athabasca basin in the vicinity of the De Beers diamond option. The junior has entered into a share purchase agreement with DB Diamond Holdings to acquire 4,060 hectares of prospective exploration ground. Negar Adam, president of Makena, stated, "We are very pleased to acquire this diamond prospect in Saskatchewan's emerging diamond district." Meanwhile, about 250 km to the southeast, North Arrow Minerals Inc. [NAR-TSXV], and joint venture partner Stornoway Diamond Corp. [SWY-TSX] have been working to advance the diamond discovery on the Pikoo claims, 30 km west of Pelican Narrows. The Pikoo claims (85% North Arrow and 15% Stornoway), were staked in 2011 based on results of a regional exploration pro- gram that was designed to test the diamond potential of the Sask craton. Initial till sampling identified two distinct KIM trains. The South and North Pikoo kimberlite fields were discovered in July of 2013. The most significant kimberlite is dubbed PK 150 and is located in the South Pikoo area. Delineation drilling continued on the body in 2015 and 2016 and PK150 is now thought to be measure about 10-15 metres wide, approximately 150 metres in strike length and still remains open for along strike for at least 200 metres. The 2016 spring drilling program discovered several new kim- berlites, the most significant in size being PK 346 located in North Pikoo. PK346 is interpreted as a near vertical NE trending body with a true width of approximately 16 metres. To date, North Arrow reports that it has discovered 9 to 11 discreet kimberlites and five of them have proven to be diamond- iferous so far. A till sampling program is on-going in an effort to guide target selection for a possible winter 2017 drill campaign. By far, the most advanced diamond project in the Province is the Fort à la Corne Joint Venture (FALC-JV) and Star Diamond project, in the Fort à la Corne forest in central Saskatchewan. Shore Gold Inc. [SGF-TSX] discovered the Star kimberlite in 1996 under 100 metres of overburden. In 2005, Shore merged with Kensington Resources to gain its interest in the FALC-JV. Currently Shore Gold holds a 100% interest in the Star Diamond project and a 69% interest in the Star West and Orion South kimberlites which fall within the adjacent FALC-JV. The remaining 31% interest is held by Newmont Canada FN Holdings. This year drilling programs were required to further expand the internal stratigraphy of the Orion South and Star Kimberlites extending and in-filling geological continuity from the successful programs of 2015. The partners are in in the process of updating the previous Feasibility Study with a revised mine plan, revised resource esti- mate and an improved processing technology with the goal of improving the economics of the project. The recently revised resource estimate hosts an indicated resource containing 55.4 million carats and an inferred resource containing 11.6 million carats. The weighted average rough dia- mond price: US $210/carat. The company reports a "significant proportion high value Type IIa diamonds," stating a valuation of one particular 11.96-carat stone at US $12,500/carat. Shore expects the updated Feasibility Study will be completed later this year. n w w w . Te r r a L o g i c E x p l o r a t i o n . c o m 7 7 8 . 5 2 0 . 2 0 0 0 Geochemical surveys | Geological mapping & prospecting Drill programs | Camp Construction & Management Data Management | Custom GIS solutions Cartography D R I V E N B Y D I S C O V E R Y

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