ARTICLE: New diamond play emerging in Saskatchewan

Author: Thomas Schuster

Excerpted from The Resource World

In May this year, the market’s attention focused on the $20 million staged option-participation deal made between CanAlaska Uranium Ltd. [CVV-TSX; CVVUF-OTCQB; DH7N-FSE] and De Beers Canada, a division of Anglo American Group. That agreement spawned a new round of speculation fever in the Saskatchewan diamond camp and helped triple CanAlaska’s stock in just four months. The claims staked by CanAlaska cover 75 kimberlite-style magnetic targets in northwestern Saskatchewan that were identified via a high-resolution, airborne geophysical survey performed on behalf of the Saskatchewan Geological Survey in 2011. A more recent detailed low-level airborne survey has identified 85 magnetic anomalies, enclosing 258 magnetic targets.

The geophysical surveys  revealed a series of discrete magnetic anomalies with a shallow signature located northeast of the Carswell structure and close to a large crustal structure, known as the Grease River Shear Zone.

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