Canadian junior miner Star Diamond Corporation on November 15 announced it has received notice from Rio Tinto Exploration Canada Inc. (RTEC) indicating that it intends to exercise all four options under an Option to Joint Venture Agreement entered into in 2017. According to diamond analyst Paul Zimnisky, writing on Twitter, this includes Rio Tinto committing to spend C$70.5M (US$53M) to take Star-Orion South through feasibility for a 60% stake in the project. Star Diamonds owns the 60 Fort a la Corne kimberlites in central Saskatchewan.
Press Release: Only 3 weeks until AMC 2019: “Unlocking the potential of the national mining sector through investment and diversification”.
The inaugural Angolan Mining Conference & Exhibition will take place in just three weeks. The Angolan president recently invited foreign industry giants to invest in the country’s economy, including the mining sector. In less than four years, Angola’s rough diamond production is estimated to reach more than 14 million carats, securing its position as the world’s fifth largest diamond producer.
Diamonds is a business we like a lot. It’s a very high-margin business in line with our strategy of value over volume. It makes a lot of sense. We want to stay in the diamonds business, so we have committed 20% of our exploration budget to diamonds. We are also exploring for mergers and acquisitions.
- Arnaud Soirat, Rio’s chief executive for copper and diamonds, speaking to Bloomberg
Botswana Diamonds (BOD), together with its associate Vutomi (BOD interest 40%), has signed a contract mining and processing agreement with Eurafrican Diamond Corporation (EDC) to mine and process the diamond-bearing gravels and residual stockpiles on a portion of the Marsfontein farm. It also allows for the continued contractual bulk sampling on the Thorny River project, according to a press release.
Botswana Diamonds, the AIM and BSE listed diamond explorer that holds exploration licences in Botswana and South Africa and a JV in Zimbabwe has identified what is believed to be five kimberlite pipes buried at shallow depth on the Company's Thorny River ground in South Africa, the company announced. They say the targets identified are very similar to the pipe that constituted De Beers high-grade and famous Marsfontein mine*, meaning it would be a potential significant diamond discovery.
Alrosa, the world's largest diamond mining operation, and Zimbabwe's national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) have signed a joint venture agreement to develop diamond deposits in Zimbabwe. The Russian miner made certain to emphasize that its developmental work and any future mining activities would not take place in the troubled Marange region: "We would also like to note once again that ALROSA does not plan operations in Marange."
North Arrow Minerals and joint venture partner and operator Dominion Diamond Mines have said that mobilization is underway for the summer field program, including exploration drilling, at the Lac De Gras (LDG) Joint Venture Diamond Project in the Northwest Territories. The LDG Project is located in the Lac de Gras kimberlite field, close to two of the world’s richest diamond mines: Diavik and Ekati. Summer exploration work is scheduled to include LIDAR (Light Detection and Ranging) surveying, till suitability mapping and sampling and approximately 1,000m of exploration drilling.
The world’s largest coloured gemstone producer, Gemfields, yesterday announced it has established a joint venture with Mwiriti to explore for gold and assorted minerals in Mozambique. Mwiriti is Gemfields’ existing partner in Montepuez Ruby Mining (MRM) and holds 12 greenfield licences located as little as 20 kilometres from MRM’s existing operations, including an extension of the known Montepuez ruby belt with both secondary gold incidence and primary corundum mineralisation having been observed.
The UK-based and AIM- and BSE-listed exploration company Botswana Diamonds (BoD) recently received positive results from bulk sampling at the Thorny River project in South Africa, while its joint-venture partner Vast Resources is said to be moving closer to mining diamonds in Zimbabwe. Last week, BoD said its associate Vutomi had received permisston to sell diamonds recovered during bulk sampling at their Thorny River project in South Africa, which will enable funding of further exploration and development by Vutomi. The project has deliverd 256 carats of diamonds to date.
Rio Tinto Exploration Canada (RTEC) has completed the drilling of the first bulk sample hole on Star Diamond Corp.'s Star Kimberlite, employing a massive 'trench cutter sampling rig'. The first of 10 bulk sampling holes has been drilled to a depth of over 228 metres and intercepted a total of 117 metres of kimberlite on Star Diamond’s Star-Orion South site at Fort à la Corne.
Mountain Province Diamonds has discovered a new kimberlite at its Gahcho Kué Joint Venture (GKJV) leases, the company announced today in a press release. The Wilson kimberlite - named after Alice Evelyn Wilson (1881-1964), who is officially recognized as Canada's first female geologist - is located roughly 200 meters east of the Tuzo kimberlite and was discovered during drill testing of geophysical and geological anomalies in the area.
Lucapa Diamond Co. yesterday formally annouced the launch of the next exploration phase to locate the kimberlite source of the high-value alluvial diamonds at the Lulo project in Angola. The next 12-month program is based on an extensive technical review of Lulo kimberlite exploration results to date, including those of the extensive 2018 drilling program which confirmed a further 70 kimberlites within the Lulo alluvial diamond field, which increased the total known kimberlites within the concession to more than 100.
A new discovery has the potential to change how we look for diamonds in Canada and around the world, write Katie Willis from the University of Alberta, Canada. This comes as potentially big news to an industry that has discovered scant few significant and economic diamond deposits in the past decade.
Mountain Province Diamonds has provided an update to the Mineral Resource Estimate for the Faraday 2 kimberlite, reporting a 74% spike to 5.45 million carats of diamonds, outstrippiing the 2017 estimate of 3.13 million carats. The update now cites an inferred resource of 2.07 million tonnes of kimberlite, a 49% increase from the1.39 million tonnes cited in 2017. The overall grade has also increased by 17% to 2.63 carats per tonne, and the average value per carat has jumped 25% to US$140 from the 2017 estimate of US$112 per carat.
Mining in Africa is at the core of our business, just as it always has been, and just as it will be in future ... De Beers is and will remain a natural diamond business.
- De Beers CEO Bruce Cleaver discusses Africa portfolio, exploration, technology and laboratory-grown diamonds.
Arctic Star Exploration Corp. of Vancouver has begun this year’s exploration program at the 40% owned Diagras joint venture diamond property in Lac des Gras, Northwest Territories, Canada (NWT). Margaret Lake Diamonds holds the remaining 60% and is the project operator. Preliminary results have been "encouraging."
Lucapa Diamond Co. reports that its inferred diamond resource estimate of in-situ carats at its 40%-owned Lulo diamond mine in Angola has nearly doubled since it was last analyzed in May 2017, increasing 90% to 80,400 carats. The modelled average price per carat also rose to $1,420, a 17% increase over the previous modelled estimate of $1,215 per carat. Overall sales of Lulo diamonds to date total ~US$141 million at an average price per carat of ~US$2,100.
Canadian junior miner Star Diamond Corp. has reported "unusually high proportions of Type IIa diamonds" at its kimberlite diamond project in Saskatchewan, and investors did not fail to notice, sending its shares soaring almost 15% on the news, closing at 24 Canadian cents.
UK-based and AIM and BSE listed exploration company Botswana Diamonds, one of the most prolific diamond exploration and project development companies around, intersected 12 kimberlites from 18 holes drilled as part of its first phase of the intensification drilling program at the company's flagship Thorny River project in South Africa. The junior miner said drilling is now complete on the farm Hartbeesfontein bulk sampling target of 1.5 km of kimberlite fissure intersection were also identified.
RJK Explorations, a mineral exploration company with a focus on diamonds, gold, silver and base metals with its resource properties located in Ontario and Newfoundland, is planning to search for the source of the 800-Carat Nipissing Yellow Diamond in southeastern Ontario. The Bishop Nipissing Diamond Project came about when RJK entered into a property option agreement with Anthony “Tony” Bishop for the Bishop Nipissing Diamond Properties, exploration properties totaling 2,090 hectares encompassing at least 18 potential kimberlite pipes, according to a press release.
UK-based and AIM and BSE listed exploration company Botswana Diamonds plans to raise more than $480,000 (£370,000) from investors, the company said Wednesday.
Junior miner Botswana Diamonds (BD) has acquired Alrosa's 50% share in the Sunland Minerals project for a "nominal sum". BD's 100% ownership of Sunland now enables a new investor to enter as a new joint venture partner, and they say that negotiations with this potential partner are at an advanced stage. The potential partner is said to be a large diamond producer with new ideas and keen to find new kimberlites in Botswana.
CEO of Australia’s Lucapa Diamond Company, Stephen Wetherall, paid a visit to Antwerp recently, where The Diamond Loupe caught up with him. We encountered an optimistic CEO that is clearly excited about the future of Lucapa, and justifiably so. The growing miner operates, together with its partners in Angola, the highest-value and most promising alluvial diamond project in the world - the Lulo Diamond Project.
North Arrow, a Canadian-based exploration company focused on diamond opportunities in Canada, has completed an exploration drilling and till sampling program at its 100% owned Mel Diamond Project, confirming it as a new diamondiferous kimberlite field in Canada. The program represents the first ever exploration drilling of this new kimberlite field and also included work focused on generation of new targets through till sampling and geophysical surveys, the company said.
Botswana Diamonds has identified the potential of the Free State in South Africa to host additional commercial kimberlites following archival research concerning the history of diamond mining in South Africa. This research, first discussed in August 2017, found that in addition to the well-documented iconic operations at Jagersfontein, Koffiefontein and Kimberley, a number of smaller diamond mines existed in the area, but knowledge of them had essentially been lost over the
Brazil Minerals, a U.S. diversified company with projects in various minerals in Brazil, announced its extensive drilling campaign in one of its several mineral rights yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed. The project is located in the Jequitinhonha River Valley in northern Minas Gerais state in Brazil. Marc Fogassa, CEO of Brazil Minerals, stated, “Our identification of an initial diamond-rich zone within a gold mineralization area is a very good outcome.
POZ Minerals Ltd., a phosphate producer that holds a 100% interest in the Blina Diamond Project and also explores for phosphate and gold properties, annouced it will place a bid for the Ellendale mine after the state government’s call for investors in the asset last week. The Ellendale Project was mined from 2002 to 2015 and previously produced about half of the world's highly valued fancy yellow diamonds.
Australian-based Lucapa Diamond Company, whose flagship operation is the Lulo diamond project in Angola, reports the recovery 1,100 diamonds from a 178 kg drill sample at the Brooking diamond project in Western Australia’s West Kimberley lamproite province. The miner's "exceptional results" from the Little Spring Creek discovery included 18 macro-diamonds and 1,082 micro-diamonds, recovered from drill hole LSC/DH002. “The latest micro-diamond results from Little Spring Creek are some of the best I have seen in the diamond space," said Lucapa Managing Director Stephen Wetherall.
Vast Resources, the AIM-listed mining company that signed last March a Memorandum of Understanding with Botswana Diamonds (BOD) to develop diamond resources in Zimbabwe, has been awarded exclusive access to a diamond concession area in the Marange Diamond Fields in the Chiadzwa region of Zimbabwe. According to a statement from BOD, the purpose of Vast's agreement is to carry out initial due diligence on the area with a view to concluding a joint venture agreement, the principal terms of which have been agreed, for exploration, mining and marketing.
Botswana Diamonds (BOD) on Wednesday released an update on the company's Sunland Minerals exploration projects in the Kalahari Desert in Botswana - Sunland Minerals is a JV with ALROSA - noting they were encouraged with the latest results. The exploration company has completed its mineral sampling over the 8 previously discovered and announced high contrast geophysical anomalies in the Gope Region of the Kalahari Desert, with all 8 anomalies turning up kimberlitic indicator minerals ("KIMs") - 267 in total. Analysis of the KIMs concluded that the sources were likely to be local.
Junior miner Botswana Diamonds has been awarded the priority 2.5 hectare Mooikloof kimberlite pipe concession close to De Beers’ flagship Venetia Mine, the company today announced. Mooikloof is a known 2.5 hectare diamondiferous kimberlite pipe last prospected in 1986 and fits into Botswana Diamonds’ strategy of undertaking fresh exploration work with modern techniques in areas where they had been found and mined before. The adjacent Oaks mine was previously owned and successfully operated by De Beers, achieving a grade of 53 cpht at a value of $156.
Pangolin Diamonds Corp.,a diamond exploration company in Botswana, has recovered two diamonds and 100 positive kimberlite indicators from a 4 hectare soil sampling grid at the MAL 001 drill target located in the company's wholly-owned Malatswae Project. The recovery is the second positive result the junior miner has announced in the past two weeks, following the companies first diamond at the Jwaneng South Diamond Project, Botswana.
Botswana Diamonds (BOD), the AIM and BSE listed explorer, has signed a Memorandum of Understanding with Vast Resources, the AIM-listed mining company with operating mines in Romania and Zimbabwe for the exploitation of diamonds in Zimbabwe. Under the agreement, the two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources. Both companies now have a Zimbabwe diamond database.
Eira Thomas was recently appointed as the new CEO of Lucara Diamond Corp., replacing William Lamb, who oversaw the successful creation of the world-class Karowe mine in Botswana. Thomas brings more than 25 years’ experience in the mining industry to Lucara, including 16 years with Aber Diamond Corporation (now Dominion Diamond), where she played an integral role as a geologist at its initial discovery and ultimately became Director of the Board.
Angola's new president João Lourenço, who took power in September and says he wants to shed Angola’s image as an opaque oil economy with rampant corruption, continues to make good on his promise to tackle family monopolies and make Angola more attractive to investors.
North Arrow Minerals - a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada - has recovered a total of 1,991 diamonds greater than +1 DTC (-1 mm), weighing 64.25 carats, from 209.84 dry tons of kimberlite. This represents an overall sample grade of 30.6 cpht (carats per hundred tons). The three largest recovered diamonds are 5.25, 2.09 and 1.06 carats.
Kimberlite diamond deposits have been discovered in the Sese area of Chivi, with investors scrambling to start mining the gems that are expected to catapult Masvingo Province into a mining hub, reports Zimbabwe news outlet The Herald. Masvingo Provincial Affairs Minister Senator Josaya Hungwe said diamond mining was set to start in Chivi following the discovery, and said at a press conference the discovery of diamonds in Chivi would economically transform the province.
Botswana Diamonds (BOD) has commenced its first half exploration program on the Sunland Minerals joint venture (JV) with Russian diamond miner ALROSA in the Southern Africa country. The program will focus on previously identified geophysical targets in the Central Kalahari Game Reserve with the aim of turning them into drill targets. It will use soil samples and magnetic surveys to supplement the airborne gravity and airborne magnetic data obtained in earlier work.
Peregrine Diamonds, a Vancouver-based junior miner with exploration projects in Canada and Botswana, announced its Resource Development Program has resulted in a 58% increase in the Inferred Mineral Resource at the high-grade CH-6 kimberlite pipe at its 100%-owned Chidliak Diamond Project, Nunavut, Canada. Their inferred resource at CH-6 jumped from 11.39 million to 17.96 million carats after testing. This brings the company's total Phase One Diamond Development resource at the CH-6 and Ch-7 pipes to 22 million carats.
We believe that South Africa is a prime exploration destination. We have had 52 exploration applications outstanding for a long time and now we’ve had 16 of those 52 licences granted and we are working hard to get the others approved. One of the strengths that we’ve got is that we have a database with fairly reliable information from about the mid-1950s onwards. Using that database we then apply the latest thinking and the latest technology. So a lot of our focus is around Kimberley where we used to mine.