RJK Explorations up 23.5% on Ontario kimberlite intersections
RJK Explorations Ltd. [RJX.A-TSXV; RJKAF-OTC] said Monday August 31 that it has intersected kimberlite in six drill holes in the Paradis Pond area on its Bishop diamond exploration claims near Cobalt, Ontario.
The company said these new intersections are proximal and visually correspond to RJK’s previously reported drill intersections, from the 2019 drilling campaign, which returned 18 micro diamonds varying in colour, and 28 diamond inclusion indicator minerals from a 22.4-kilogram (50 pound) sample.
RJK said the kimberlite breccia phase is uniform, varying between 7.0-16 metres in true thickness, while appearing to expand to the west. “The kimberlite is draped on top of granitic bedrock and was intersected as shallow as 4.0 metres from surface, flanking Paradis Pond,” the company said in a press release. “The dimensions drilled thus far represents a 3.75-hectare area.”
RJK shares advanced on the news, rising 23.5% or $0.04 to 21 cents on volume of 337,000. Commenting on the latest results, RJK Project Manager Peter Hubacheck said: “It is extremely rare for a flat-lying kimberlite feature in northern Canada to be intact above a granite body and below such shallow overburden.”
RJK is searching for the source of the historic 800-carat Nipissing Diamond found near Cobalt between 1903 and 1905.
Back in March 2019, RJK agreed with prospector Anthony Bishop to acquire the Bishop Nipissing diamond properties and encompass at least 18 potential kimberlite pipes.
RJK has subsequently conducted research and compiled data on potential kimberlite targets south of Cobalt. The results of this work prompted RJK to add 4,400 hectares in additional staked claims, and optioned ground surround the Bishop claims, to add a minimum of 17 additional targets for drilling.
The company was able to increase its land position in the area by signing option agreements with prospector Alan Kon, First Cobalt Corp. [FCC-TSXV; FTSSF-OTCQB; FCC-ASX] and Power Group Projects Corp., while securing the Kon Kimberlite showing.
RJK recently resumed drilling on potential kimberlite targets in the Cobalt area. Drilling was suspended earlier due to the COVID-19 pandemic.
RJK plans to investigate several geophysical and geological targets supported by till kimberlite indicator mineral geochemistry in the Paradis Pond area.