ARTICLE: Canada’s Next Diamond Play?

John Gomez, Contributing Content, Palisade Research

 

Sometimes mineral discoveries are made by chance. Recall Robert Friedland’s Diamond Fields? In the company’s search for diamonds in Labrador, Canada, they stumbled onto one of the country’s richest nickel-copper discoveries.

Voisey’s Bay was spotted from a helicopter by geologists who noticed a large rusty-colored outcrop. When Diamond Field’s sunk drills into the stained rock, the core they pulled out was a brilliant brass. Friedland eventually sold Voisey’s Bay to Inco for $4.5 billion. Not bad for a venture aimed at finding diamond prospects.

Like Labrador, northern Saskatchewan, is a fairly remote area — both have far more cariboo than residents. The province’s Athabasca basin however is well established with high-grade uranium; in fact the richest on the planet, with deposits typically grading 100 times greater than anywhere else.

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