Whether they’re producers, developers or explorers, Canadian-listed diamond companies are a tough lot. Those that have survived the disruptions of the pandemic — and the soft diamond market that preceded it — may be in an excellent position to capitalize on the diamond recovery and lower supply and recent closure of Rio Tinto’s Argyle mine in Australia. Here are six companies that are actively exploring or mining diamonds – at home and elsewhere.
Arctic Star Exploration (TSXV: ADD) has enjoyed exploration success in the Northwest Territories’ prolific Lac de Gras kimberlite field this year, discovering five kimberlites at the Diagras project. The project also hosts 23 kimberlites discovered by De Beers in the 1990s.
Four of the five new kimberlites are diamond-bearing (the company did not sample the fifth, small dyke-like intercept). The Sequoia kimberlite complex has been identified as the most promising in terms of diamond counts and dimensions. It has a geophysical signature up to 1,000 metres long and 300 metres wide.
Caustic fusion results from the spring drilling program returned 499 diamonds from a 505.3-kg sample from Sequoia — or 99.8 stones per 100 kg. That compares with 20 or fewer stones per 100 kg in samples recovered from the other kimberlites. Arctic star says the results, along with Sequoia’s diamond indicator chemistry, suggest the presence of large diamonds.