Two 0.72-carat diamonds pulled from James Bay lowlands

Metalex Ventures (TSX:MTX) recovered a 0.72 carat white diamond from its James Bay lowlands project  in Quebec — a joint venture between Metalex and Arctic Star Diamond Corp. (TSX:ADD).

The B.C.-based company made the announcement on Friday among its latest drill results from the 9.3-hectare U2 kimberlite pipe. The discovery was made on the third of 11 drill holes, and Metalex indicated another 0.72-carat stone has been recovered from the fourth hole:

Metalex is most encouraged by the recovery of a white 0.72 carat diamond from the third hole and a second 0.72 carat diamond from the first of the samples from the fourth hole.  As shown in photographs available on the company’s website, many of the large diamonds recovered to date from the very large 9.3 hectare U2 kimberlite are spectacular.  Furthermore, the high proportion of white and coloured diamonds is exceptional.

Metalex has projects in the Ontario ‘Ring of Fire’, Attawapiskat, Kyle Lake, Wawa, and the James Bay lowlands in western Quebec.  The company is led by Charles Fipke, who discovered the Ekati Diamond Mine in the Northwest Territories — Canada’s first diamond mine.