De Beers, which had undertaken exploration work for CanAlaska Uranium Ltd., has given notice for the termination of the West Athabasca project option.

In August this year, CanAlaska had announced that after completing airborne surveys, De Beeers had found the “presence of several near surface magnetic anomalies” and was preparing to commence drilling kimberlite targets.  

Now, De Beers says that its exploration team has interpreted the 85 large magnetic anomalies scattered across the claims “to be most likely associated with magnetic minerals within organic material in the overburden”.

“De Beers’ drill program in September 2016 tested seven magnetic targets accessible before winter, located mostly in the southern claim groups,” the Company elaborated. “At five sites, the drill holes intercepted magnetic material within the organic overburden, unconsolidated sand and boulders, followed by sandstone. At one drill site, the overburden was not collected but the sandstone intercepted did not explain the associated magnetic anomaly. One drill hole intercepted overburden consisting of peat, unconsolidated sands and boulders, followed by sandstone and a thin diabase sill, which may explain the anomaly.”

De Beers said it is “highly unusual” to encounter such magnetic material in organic overburden and thatsamples were sent to Saskatchewan Research Council (SRC) and McMaster University “for analysis and review”.  

“Although the Western Athabasca Basin has the right geological and structural setting for the presence of diamondiferous kimberlite, De Beers decided not to continue drilling and, under the terms of the Option Agreement, have returned 100% of the project to CanAlaska,” the Company said in a press note.

CanAlaska President Peter Dasler commented, “I am very pleased with the excellent relationship we have developed with De Beers through this project. The Western Athabasca merits exploration for diamonds and we will now concentrate on evaluating several of the more interesting magnetic anomalies within the remaining 78 targets that CanAlaska does not believe are related to magnetic organic material.”   

He added: “CanAlaska is currently marketing its Alberta property to third parties to explore for diamonds, and with the return of 100% of the West Athabasca project, we expect that there will be parties that will wish to help us test the remaining targets.”