The Diagnos Initiative is a joint venture between Debut Diamonds Inc. (“Debut”) and Cliffs Chromite Far North Inc. (“Cliffs”) comprised of widely dispersed claims east and north of the McFaulds Lake area. Diagnos (TSX.V: ADK) is the industry leader for predicting high probability mineralized zones for drilling.
Debut holds a 50.61% interest in certain isolated Diagnos Initiative claims in the McFaulds Lake area of the James Bay lowlands in Ontario and Cliffs is the current operator of the project. The Diagnos Initiative project is funded equally by Debut and Cliffs on a 50:50 basis.
On June 29, 2010 it was announced that a new kimberlite pipe had been discovered in the Diagnos Initiative Project Area. The pipe is located on the eastern edge of the “Ring of Fire” exploration area and in the vicinity of the Kyle swarm of kimberlites. The new kimberlite is called Kyle #6 and was hidden beneath 35 metres of Paleozoic carbonate cover rock including limestone and dolomite. Vertical Hole DGN-10-01 intersected diatreme facies kimberlite between 35 metres and 111 metres down hole.
The target anomaly was prioritized for acquisition by using a combination of regional airborne fixed wing magnetic geophysical methodology, local helicopter magnetic surveying, as well as a regional review by Diagnos Inc. (TSXV:ADK) using their proprietary Computer Aided Resource Detection System “CARDS” methodology for screening out and prioritizing anomalies.
The drill test was a follow up to a ground magnetic geophysical program completed in 2006 as well as a horizontal loop electromagnetic “HLEM” program completed in early June 2010. The HLEM program concluded that the distinct magnetic feature was not conductive, ruling out the possibility of sulphides being the cause of the magnetic signature, providing more confidence in the initial interpretation of kimberlite source.
The initial core samples remain untested for diamond content.