In November 2013, Canadian exploration company North Arrow Minerals (TSXV: NAR ) made headlines with the news that it had returned high microdiamond counts from the PK 150 kimberlite at its Pikoo project, located in Saskatchewan.
At the time, a company press release stated that those high counts "demonstrat[e] the potential for a coarse diamond size distribution," while Ken Armstrong, North Arrow's president, CEO and director, said he believes they establish "Pikoo and the northern Sask Craton as a new diamond district in Canada." In the months since then, a number of companies and individuals have staked claims near North Arrow, making it clear they agree with him. Seeing that interest, Diamond Investing News got in touch with Armstrong and Nick Thomas, North Arrow's investor and community relations manager, to learn more about Saskatchewan's diamond industry. Where are the diamonds? Armstrong explained that most of Saskatchewan's diamond discoveries thus far have been located in the Fort a la Corne (FALC) field. Situated in East-Central Saskatchewan, it is considered one of the largest clusters of diamondiferous kimberlites in the world; it also has some of the biggest kimberlite pipes in the world. The FALC field is located on the Sask Craton, which, like other cratons — examples of which include Canada's Slave Craton and the Wyoming Craton in the United States — is essentially "an area of really old rocks" that is prospective for kimberlite. However, what's interesting about the Sask Craton, said Armstrong, is that it is a "relatively new" idea. That's "because it's a little different than the Slave Craton in that a large portion of it has some much younger sedimentary rocks that sit on top of the really old rocks. Those younger rocks are there because there used to be an ocean, or a shallow sea, that sat in that area of Saskatchewan and spread into Alberta."