Diamond exploration & mining
by Ellsworth Dickson MUch haS happeneD since Chuck Fipke's tiny company, Dia Met Minerals, discovered diamonds in the Lac de Gras region, about 300 kilometres northeast of Yellowknife, Northwest Territories in November 1991. The discovery resulted in perhaps the greatest claim staking rush in history which, at its peak, had over 250 companies, mostly juniors, scouring the tundra for the precious stones. As with all rushes, only a small number ended up finding economic diamond deposits and the hordes of companies have now substantially thinned out. Because not many Canadian geologists had much experience with diamond exploration, there was a learning curve. And now, 17 years later since Fipke's discovery, geologists and diamond stock investors have learned a great deal about this particular mining sector, resulting in a more sophisticated approach to both exploration and investing. These days, it's not enough to find diamond indicator minerals, or even a kimberlite pipe. Investors want Dr. George Read, senior vice president of exploration and development, Shore Gold Inc., examines a giant drill bit used at its Fort a la Corne diamond projects, Saskatchewan. Photo by Ellsworth Dickson to see diamond-bearing kimberlite pipes with promising diamond values per tonne. Dia Met's Ekati Diamond Mine opened in October 1998 and the nearby Diavik Diamond Mine has been producing for about five years. A little to the south, the De beers Snap Lake Mine is currently being prepared for production and the Gahcho Kué Diamond Mine, a joint venture between Mountain Province Diamonds and De Beers, is in the permitting stage. With the exception of Tahera's failed diamond mine further to the north in Nunavut Territory, the region has become an established powerhouse of diamond production. Diavik, 40%-owned by harry Winston Diamond corp. [HW-TSX; HWD-NYSE] and 60% by rio Tinto, produced 11.943 million carats of diamonds in 2007. The Diavik Mine produced 1.8 million carats for the first calendar quarter of 2008. The Ekati Mine, now 80%-owned by bhp billiton, produces about 3.5 million carats annually, representing about 3% of the world's rough diamond supply and 6% by value. Other advanced diamond projects in Canada include the De Beers Victor Diamond Mine in northern Ontario and the Shore Gold/Newmont diamond projects in Saskatchewan, summarized below. Venture Exchange-listed companies are also active in other parts of the world, including Greenland, United States, South America and several countries in Africa. During 2007, diversified mining giant Rio Tinto produced 18,744,000 carats at its Argyle Mine in Australia, famous for its pink diamonds, and 145,000 carats from its Murowa Mine in Zimbabwe. afri-can Marine Minerals corp. [AFI- TSXV] is targeting alluvial marine diamonds off the coast of Namibia, Africa. A new NI 43-101 compliant resource estimate has been completed on the 70%-owned project which states that, based on sampling, the Block J Exclusive Prospecting Licence suggests a potential mineral content of between 14 www.resourceworld.com August 2008natural fancy coloured diamonds www.torchriver.ca3bolero resources featuresmining newsbuying opportunities in junior mining stocks the world needs it we've got it910111213 diamond exploration & mining15161 888 242 3234 1819- a field visit yukon mining exploration is booming, much more than in the rest of canada. it has increased from $22 million in 2004 to an estimated $132 million for 2008 - a 600% increase. while for this same period mining exploration in canada increased from $1.17 billion to $2.76 billion, a 235 % jump.2223ad design by25big nic, hope bcartha resources exploring wyoming uranium prospectsgive me a stage where this bull can ragesouth africa and precious metalsmolybdenum, uranium & goldmarc natural fancy coloured diamondsin 2005, only 616 carats of investment-grade natural fancy diamonds were recovered, compared with 123.29 million carats of colourless diamonds.leadership development goes deeper at goldcorp35endeavour silver intersects mexican high-grade silvercrescent gold spins off uranium assets to focus on goldmininghard creek nickel increases turnagain resourcesapollo gold plans black fox gold production41riverstone drills karma project, burkina faso, west africaglass earth gold ltd. exploring new zealandpremier gold active on several frontsride the ups & downs encana using co oiloilwww.cambridgehouse.combc's horn river gas playwhen where who how developments in alternative energyalternative energyin the newsnaikun wind energy advancing bc offshore wind projectfacts and newsfacts and newscoming events59directoryprofessional directorysummer doldrums for many junior miners6364