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Star Diamond Corp.

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Projects

Corporate
Presentation

Buffalo Hills Diamond Project

Buffalo Hills

Ownership and Property

On August 1, 2024 the Star Diamond completed the acquisition of Canterra’s 50% interest in the Buffalo Hills Diamond Project and Star Diamond now holds 100 percent interest in the Buffalo Hills Diamond Project. The property covers a total of 21 mineral leases covering an area of approximately 4,800 ha.

Geology

Located ~400km northwest of Edmonton, the property is situated in the Early Proterozoic Buffalo Head Terrane which is overlain by three Cretaceous aged sedimentary formations of marine and non-marine sequences of sandstone, siltstone and shale. Intruded through the Cretaceous sediments, in a similar manner to the Fort à la Corne kimberlites, are 38 kimberlites which are believed to be aged in the range of ~85 million years old. Of the 38 kimberlites, 26 are regarded as diamond bearing and range in area from less than one hectare to 47 hectares. The kimberlites outcrop in part while some have undergone some glacial disturbance with the deposition of glacial till above the kimberlites ranging from <5-100m in thickness.

Exploration

Following the Company’s acquisition of interest in the property in 2007, the BH-JV undertook ground geophysical surveys over several targets during the fall of 2007. A $5 million exploration program (Star Diamond Corp., 50 percent contributor) was completed during 2008 which resulted in a total of 41 PQ sized drillholes (6,818 metres) being completed over three bodies considered as being of "high interest". Further work in 2010 resulted in the full recovery of 11 core HQ sized core holes from a drilling campaign totaling over 1500m which targeted the K5, K6 and K91 kimberlite bodies. Star Diamond geologists logged more than 5,000 metres of drill-core from the aforementioned programs which resulted in the development of preliminary three dimensional models for the K5, K6, K14, K91 and K252 kimberlites.

 

 

In February 21, 2023 – Star Diamond Corporation announced that the completion of an estimate of the diamond valuation and the abundance of Type IIa diamonds from the from K6, K14, K91 & K252 kimberlites of Buffalo Hills

Highlights

Diamond Valuation

Diamond valuations and characterisations as shown in the table below were completed by Mr. Nelson Karun, Diamond Specialist.

*Very speculative due to the small sample size

As observed by Mr. Karun, diamonds from these kimberlite bodies exhibit good quality, colour and very low to no fluorescence. All the parcels of diamonds appear to be statistically very similar in terms of their graded characteristics. There is an inadequate sample size for K91 to model the average diamond price. Extremely speculative model prices are given for samples K6 and K252, due to the small parcel size. K14 is a larger parcel size, and a price can be modeled, but should still be used with caution.

Diamond Typing

These four kimberlites have diamond parcels with sufficient diamonds to conduct preliminary diamond typing studies. The number and the percentage of Type IIa diamonds for the Buffalo Hills kimberlites studied are documented in the table below and shows that these kimberlites have an anomalously high percentage of Type IIA diamonds.