Dominion Diamond Provides Greenfield Exploration Update

Dominion Diamond was out Friday with an update on its greenfield exploration activities at properties in the Lac de Gras region in the Northwest Territories in Canada. The company said it is starting a renewed strategic focus on exploration with success-based five-year budget of approximately C$50 million ($37 million). Among highlights, the company reported a maiden inferred mineral resource of 51 million tonnes and 16 million carats at the Leslie Leslie kimberlite pipe at the Ekati diamond mine.

The company said there are 150 known kimberlites on the Ekati property, including approximately 110 pipes that have not had follow-up bulk sampling programs. “Our renewed focus on exploration is generating strong results along the entire project pipeline, reflecting near-, mid- and longer-term potential,” Chairman Jim Gowans, said. “We expect to complete pre-feasibility studies on Misery Deep and Fox Deep during the current fiscal year, and have identified high potential pipes in proximity to our existing infrastructure in the Lac de Gras region. The Leslie pipe is our highest-priority pipe amongst kimberlites that have been bulk sampled, as demonstrated by the announcement of its maiden resource.”

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Leave a Comment