By paNOW Staff

Stornoway announces 2011 exploration program

Apr 27, 2011 | 9:55 AM

Stornoway Diamond Corporation announced the acquisition of 33,374 hectares of claims at the Pikoo Project located near La Ronge.

The company acquired the claims, which are about 140 kilometres east of La Ronge and 100 kilometres west of Flin Flon, in February and March 2011.

An all-season road to the community of Deschambault Lake comes to within six kilometres of the property's southern boundary.

Certificates have been issued by the Saskatchewan Ministry of Energy and Resources, said the company in a press release, Tuesday.

Stornoway, who has 100 per cent ownership of the property, said they will undertake a high-resolution airborne geophysical survey, conduct detailed till sampling and follow-up prospecting on high-priority targets during the summer of 2011.

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These steps are being made in preparation for drilling later in 2011 or in 2012.

This area was chosen for exploration because of previously undiscovered kimberlites, areas that have high concentrations of diamonds, the release said.

It was first identified in 2006 following a sampling program designed to test diamond potential of the northern portion of the Sask Craton, which hosts the Fort a la Corne cluster of kimberlite pipes approximately 220 kilometres to the southwest.

According to the press release there are no kimberlites currently known in the vicinity of the Pikoo Project meaning their identification would represent a significant new discovery in Canadian diamond exploration.

The company said they have allocated a budget of about $5.6 million for this and other exploration projects in the 2011 year.

Stornoway Diamond Corporation is one of Canada's leading diamond exploration and development companies, involved in the discovery of over 200 kimberlites in seven Canadian diamond districts.

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