De Beers Drills For Kimberlite In Northern Saskatchewan

Businesswoman shaking hand for a deal

Earlier this year De Beers optioned for 43,000-acres Northwest Athabasca Kimberlite Project from CanAlaska where they will soon take steps to drill. “I think it ticks the boxes for kimberlites, and if you’ve got kimberlites, you should be looking at them for diamonds,” said CanAlaska president and CEO Peter Dasler. Kimberlites are an igneous rock named after Kimberly, South Africa.

The agreement that’s set between De Beers and CanAlask allow the world’s largest diamond company to spend up to $20.4 million between four stages over seven years. The completion of all stages can lead to a 90 per cent stake in the property.

October is when De Beers is hoping to finish the drilling they’ve targeted on land and the drilling below bodies of water will take place over the winter. Dasleer says there will be many holes but they don’t need to be very deep to tell if there are kimberlites.

“CanAlaska has … identified many new targets within northwestern Saskatchewan, a region we believe has the potential to host a new Canadian kimberlite field,” Canterra president and CEO Randy Turner said in a statement.