The Wawa joint project consists of exploration land located 35 km north of the town of Wawa, Ontario. Debut Diamonds Inc. (“Debut”) has a 48.89% interest in the Wawa project with the operator Cliffs Chromite Far North Inc. (“Cliffs”) owning the balance.
Debut maintains the right to protect its equity position by electing to resume financial support once its joint project interest has been diluted to 33 and 1/3% from its present 48.89% interest.
The property is 45 square kilometers in size and results of exploration in ‘96 & ’97 showed 8 diamond occurrences identified by petrologists as lamprophyre dikes.
In October, 2008 a drill program entailing 4 short HQ core holes totaling 307 metres was completed. The purpose of the drilling was to explore to depth the main diamond occurrence that had been mapped and sampled over an area 300 meters by 15 meters (open to north and south) during 2005 and 2006.
Best sample result = LAL 2, weighted 36 kg, where 48 micro diamonds and 6 macro diamonds, sample averaged 46.2 cpht (carats per 100 tonne).
