In this session of Coffee with Samso, Lithoquest Diamonds tells us about the exciting story of what they are doing in one of the most impressive diamond exploration regions in the world.
The unique manner in which diamonds are transported to the surface limits its occurrence. The fact that Lithoquest has discovered micro-diamonds and Kimberlitic indicator minerals is encouraging in itself already.
The company and its story
Lithoquest Diamonds Inc (CVE:LDI) is a TSX-V listed company which is undergoing one of the most speculative projects in the mineral exploration industry. Diamond exploration in its purest form is the best High-Risk and High Reward investment.
The Ekati diamond mine in Canada is making 100s of millions a year and the Argyle diamond mine was pumping in similar returns for Rio Tinto (ASX: RIO). These mines are producing several million carats per year, and when you do the maths, that’s 100s of millions a year in revenue. Ekati is reported to be producing 7-8 million carats per year.
Ekati mine with three open pits in foreground and another pit just above the airport (far left) in the distance. (Source: Wikipedia)
With these kinds of metrics, it is not rocket science to realise that a discovery of a diamond-bearing Kimberlite or Lamprorite or some other host rock (assuming there is another form) will propel companies like Lithoquest into the stratosphere.
North Kimberley Diamond Project
Lithoquest’s North Kimberley Diamond Project is 100%-owned and covers 1,500 square kilometres of the northern portion of the Kimberley Plateau, about 225 kilometres from Kununurra. The Gibb River and Kalumburu roads provide ground access to the project area from either Derby or Kununurra. Locally, the plateau is flat-lying and characterised by escarpments and isolated mesas.
The North Kimberley Diamond Project. (Source: Lithoquest)
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