Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
Today, March 30th, both North Arrow and Strike Diamond released very important news. First is a breakdown of North Arrow TSX.V - NAR news and then Strike Diamond TSX.V - SRK news.
There is a lot of meat in NAR’s release that directly translates into very good news for SRK.
“A diatreme like body. PK314 displays textures consistent with coherent kimberlite and transitional to Kimberley-type pyroclastic kimberlite (previously termed diatreme facies kimberlite) as opposed to only hypabyssal textural features that characterize dyke-like bodies
“PK314 kimberlites display textures consistent with, or transitional to, diatreme-like kimberlite bodies. These are not simple kimberlite dykes.”
A total of seven drill holes further evaluated the PK150 kimberlite and related structures. The kimberlite has been extended to a strike length of approximately 150 m and to a depth of 199 m below surface. Kimberlite has now been encountered in 11 of 13 drill holes completed to date along a 900 m strike length of the "PK150/151 valley" in the South Pikoo target area.
The discovery of an extensive zone of weakly magnetic kimberlite at PK150 has not only increased the size of the body but also opens up possibilities for new kimberlite targets within the project.
The PK150 kimberlites display textures consistent with, or transitional to, diatreme-like kimberlite bodies.”
The point north Arrow is trying to make by mentioning diatreme like, diatreme textures and pyroclastic is that diatremes are volcanic bodies formed by volcanic eruptions and they have a certain ‘large’ size connotation – and no I am not saying NARs kimberlites are the size of Mt. St. Helens. Dykes are intrusive bodies that feed out of the diatreme.
The takeaway for ahead of the herd readers and investors is diatremes are commonly big, dykes are commonly small so by NAR identifying a diatreme we’re no longer looking at small geological interest, albeit high grade, only dykes. The play, the whole North Sask Craton Diamond Play, just took a giant leap forward!
STRIKE DIAMOND CORP. ANNOUNCES DISCOVERY OF KIMBERLITE INDICATOR MINERALS AT SASK CRATON PROPERTIES (PIKOO DISTRICT)
Strike Diamond Corp. has released the results of its inaugural till sampling program conducted last fall at its Saskatchewan diamond exploration project. That exploration program was designed to sample select portions of the Corporation's Sask Craton and Sask Craton North properties which tie-on to or are proximate to North Arrow Minerals Inc. and Stornoway Diamond Corp.'s Pikoo Property where diamondiferous kimberlites have recently been discovered. A total of 86 collected till samples were analyzed, with the samples taken from tenure representing a small but high-priority portion of the extensive mineral tenure held by Strike Diamond in the Pikoo diamond exploration district. As further described below, the initial results have revealed multiple kimberlite indicator minerals which may suggest the potential for one or more kimberlite trains on mineral tenure held by the Corporation.
"Strike Diamond is pleased to release the results of our inaugural till sampling program within the Pikoo district. The exploration work managed by Dahrouge Geological suggests that our Sask Craton properties hold a significant number of KIMs and potentially multiple KIM trains. Equally exciting, since the time we collected our inaugural till samples last fall, the number of apparent unsourced kimberlite indictor trains has spiked from the two originally identified by North Arrow to more than ten distinct indicator trains now disclosed by multiple public companies. This proliferation of potential KIM trains speaks to the possibility that the Pikoo-area kimberlite bodies occurred as a cluster, something which would be consistent with many other kimberlite districts," stated Ryan Kalt, President and Chief Executive Officer of Strike Diamond. A map of the Corporation's inaugural till sampling results may be found on the Strike Diamond website:
http://www.strikediamond.com/s/Till_..._Fall_2014.jpg Till samples collected during the fall of 2014 were shipped to and micro-probed by the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan. GeoMicroprobe results were forwarded to Dr. Roger Mitchell of Thunder Bay Ontario, for characterization.
Overview of Regional Results
Sask Craton East Area (SC East)
Highlights: Two potential KIM dispersion trains identified; andA Cr-pyrope (G9) garnet KIM was identified on Strike Diamond tenure within SC East in an area which is up-ice of several regional samples collected by other listed companies, indicating the possible continuation of an emerging KIM train. This sample was flanked by several additional sample sites all with a number KIM's; andA sample site with a chromite >60% Cr2O3 and mantle olivines (>80% Fo, >0.3% NiO) was collected up ice from a potential KIM train identified by another public company.At 39 till samples, the SC East area saw the greatest number of KIM samples collected and analyzed. However, unlike more linear line till sampling conducted elsewhere in the region (which has subsequently proven effective at sampling potential ribbon-like effects of indicator trains in the area), Strike Diamond's inaugural program was more regional (see sample locations shown in the above map). Consequently, significant line-based infill sampling is expected to be required in order to fully assess the property's potential. The central site of this area has multiple diverse indicators and is situated within about 8 km down-ice of a cluster of small (<250 m diameter), subtle, magnetic anomalies visible on publicly-available geophysical maps. The eastern site is approximately 5 km up-ice of a potential KIM train defined by Alto Ventures Ltd. It is not known if this till sample locus represents the continuation of that train, or is separate and unique. Sample sites with potentially kimberlitic (mantle) olivine grains are important as this indicator mineral does not typically travel far due to its structural fragility and susceptibility to weathering. As a result, these target sites are considered a priority for future exploration work.
Sask Craton South Area (SC South)
Highlights: Two potential KIM dispersion trains identified; and14 sample sites with KIM's, including high Chrome (>60% Cr2O3) Chromite's, Picroilmenites, and mantle derived Olivine; andA single sample site, considered to be near-source, with a diverse array of over 55 KIM's including mantle derived Chromites, Picroilmenites and Olivine.The SC South area identified multiple sample sites with multiple kimberlite indicator minerals. Based on 17 till samples collected and analyzed within the area, additional regional sampling is required to identify the source of specific KIM indicator mineral sites and potential KIM trains with this area.
Sask Craton North Area (SC North) The SC North area returned seven sample sites with mantle derived KIM grains, out of the 30 sites sampled. Additional sampling is warranted within the southeast part of this area, where only limited samples were collected during 2014.
Disclosures: The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by William Miller, P.Geol., of Dahrouge Geological Consulting Ltd., a qualified person.
The Corporation cautions that results on adjacent or nearby properties may be different than those results ultimately obtained on mineral tenure held by Strike Diamond. The Corporation further cautions that exploration within the Sask Craton region, including on the Sask Craton and Sask Craton North properties, is early-stage and as such is inherently speculative.
From a broad brush stroke regional KIM sampling program (only 80 till sample results equaling 1/15th the number of samples over 4x the area NAR sampled) SRK has potentially identified 4 KIM trains, an excellent result. They have also identified numerous (100’s) of other KIM’s and DIM’s (diamond indicator minerals). The diversity, and sheer number of indicators, is an excellent harbinger of positive results for an in-fill sampling program looking for further indicator trains and potential drill targets.
Strike has potentially extended the boundaries of the Pikoo Kimberlite field dramatically, opening up the possibility of many kimberlites. And for that reason should be on every investors radar screen. Are diamonds, in particular Strike Diamond and the North Sask Craton Diamond Play on your screen?
If not, maybe they should be.
Richard (Rick) Mills
Richard lives with his family on a 160 acre ranch in northern British Columbia. He invests in the resource and biotechnology/pharmaceutical sectors and is the owner of Aheadoftheherd.com. His articles have been published on over 400 websites, including:
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