Star Diamond Corporation pursuant to a definitive agreement. The Corporation has acquired the interest of Canterra Minerals Corporation in the Buffalo Hills Diamond Project in north central Alberta Canada. Upon closing Star Diamond will hold 100% of the Project.
Ewan Mason, President and CEO of Star Diamond Corporation said: “We are excited to gain control of the 50% of Buffalo Hills Diamond Project we did not own. In early 2023, we dusted off the file on this property and conducted an examination of the existing diamond parcel that was collected from a bulk sample previously taken in 2010.
Our diamond specialist thoroughly analyzed the diamonds and we were astonished to find not only anomalous levels of Type IIa diamonds in the sample but also a presence of fancy yellow diamonds (K6 yellow diamonds) with elevated modelled diamond prices.
It became clear to us that further work needed to be done and with a number of pipes at surface we believe that a larger bulk sample should be taken to determine how many of the 38 pipes on the property may be economic. Our plan would be to eventually extract a bulk sample and ship it to Fort à la Corne and run the sample through our on-site bulk sample plant.”
Chris Pennimpede, President and CEO of Canterra Minerals Corporation said: “We are confident that Star Diamond will be able to maximize the value of the Buffalo Hills Diamond Project as a dedicated diamond explorer with complementary assets in the region.
Canterra is now focused on advanced stage copper and gold exploration in the central Newfoundland Mining District and looks forward to maintaining its exposure to the Project as a Star Diamond shareholder. We will be watching developments with much interest as our equity participation in Star Diamond provides our company with exposure to future success.”
