Amaruk remains one of Canada's top opportunities for a significant diamond discovery. To date, a total of 25 kimberlites have been discovered of which 90% are diamondiferous. Several kimberlites have shown very high diamond content; what we have not seen yet is an abundance of commercial size stones. This is not unusual considering that only 8 of over 160 kimberlites discovered at the Ekati Diamond Mine are in production and the first 25 to 30 kimberlites discovered at the Diavik Diamond Mine were either barren or very weakly diamondiferous. Kimberlite indicator mineral chemistry across the property suggests high diamond potential, and a diamond stability field beneath Amaruk compares favourably with the Diavik and Ekati kimberlite fields, therefore we remain confident that commercial size stones exist on the property.
As a result of nickel exploration, several new kimberlite targets have been identified on the Amaruk property by adopting the use of an innovative electro-magnetic (EM) airborne geophysical method that is interpreted to penetrate the conductive overburden cover in the region. This targeting has led to the identification of sizable kimberlite targets (greater than 400 metres in diameter) with kimberlite indicator mineral support and topographic verification (See Example of Kimberlite Target).
The potential of this EM method prompted the recent partnership with Indicator Minerals Inc. on the adjacent Barrow Property and provides Diamonds North with the opportunity to expand the application of this targeting system over a larger prospective region. This could be a significant breakthrough for discovering economic kimberlites in the region especially since the kimberlites mined at the Ekati and Diavik Diamond Mines are EM conductors.
Kimberlite indicator mineral trains with highly prospective chemistry still remain unresolved across the property. The Amaruk property remains one of the best opportunities for a major diamond discovery in northern Canada and is positioned for advancement when interest returns to the diamond market.