Diamond project in Nunavut yields encouraging results

The Stein diamond project is located 85 kilometres northwest of the community of Taloyoak, pictured here. Photo by Leslie Philipp, Wikimedia Commons

GGL Resources (TSXV: GGL) reported receiving encouraging results from a ground geophysical survey program on the Stein diamond project in Nunavut, northern Canada.

In a press release, GGL said that the detailed ground magnetic survey program delineated a number of compelling targets that are consistent with magnetic signatures over known kimberlites which have intruded through Cambrian-Devonian age Arctic Platform carbonate rocks at parallel latitudes elsewhere in Canada’s north. According to the company, Stein shows similar geology.

“A broad range of kimberlite like signatures were defined during the surveys which further bolsters the possibility of Stein delivering a new kimberlite field,” the company said in a media statement. “Many known kimberlite fields exhibit a variety of magnetic responses which represent kimberlites intruding under varied circumstances and conditions. These signatures range from isolated magnetic highs to strong dipolar features to elongate dyke-like responses. The Stein project has delivered all three of these emplacement style signatures.” 

The property consists of four contiguous prospecting permits covering an area of 1,065 square kilometres on the Southern Boothia Peninsula, 45 kilometers from tidewater. It is located 85 kilometres northwest of the community of Taloyoak.

GGL has an option to earn a 60% undivided interest in the project, currently owned by Arctic Star Exploration.

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