Canadian exploration company North Arrow Minerals has announced that the kimberlite has been intersected in the first hole of a drilling program at its Pikoo diamond project.
The 2,000m drilling program is being funded by the company as part of an option agreement with Stornoway Diamond. The agreement will provide North Arrow with 80% interest in the Pikoo project, located nearly 140km east of La Ronge, Saskatchewan.
Drilling is aimed at testing several kimberlite targets associated with the North Pikoo and South Pikoo kimberlite indicator mineral trains. A drill hole, testing a target in the North Pikoo area, cut a 0.60m hypabyssal kimberlite dyke at 110.7m down hole.
This represents the first bedrock occurrence of kimberlite in Sask Craton, Saskatchewan and confirms the potential of the Pikoo project to host a new kimberlite field in Canada, the company said.
The current program is expected to run until the end of July 2013.