Company Profile
Company Objective:
To increase shareholder wealth through the identification and profitable exploitation of diamondiferous ore bodies. This will be achieved by the utilisation of cost effective, proven exploration techniques and the acquisition of underexplored, high potential targets. Gemstar aims to delineate economic diamond deposits through the targeted exploration and commercial assessment of its portfolio of prospective tenements, and, if they present themselves, through the evaluation of acquisition opportunities for small, advanced projects that may result in securing an economic diamond deposit.
Gemstar’s exploration strategy is based on evaluating multiple kimberlites, recognising that several diamondiferous ore bodies may need to be evaluated to find one pipe capable of supporting commercial development. To achieve its objectives Gemstar has applied for exploration tenements to secure prospective diamond ground in the Kimberley, Pilbara and Yilgarn Regions as well as the Nabberu Basin in Western Australia. Additionally, Gemstar has entered into agreements with other parties to secure an interest in tenements and tenement applications regarded as being prospective for diamonds which include the Palmietfontein Project and exploration tenements in the Bushmanland region of South Africa.
Exploration Philosophy
Gemstar recognizes that conventional exploration techniques and strategies have often failed to locate the primary sources
of diamonds and associated indicator minerals. The Company has identified project areas in Australia and South Africawhere previousexploration has identified diamonds and indicator minerals but not their source rocks.Gemstar’s geologists now have a betterunderstanding of the Australian deeply weathered laterite terrains and thesignificant impact of these on diamond explorationtechniques. Gemstar believes that the knowledge of lamproite geologydeveloped in exploring the Kimberley region in Australiacan also be applied to the Bushmanland ultramafic province inSouth Africa.
For almost 100 years it was believed that kimberlite was the only volcanic source rock, and it was not until 1976 that the diamond potential of lamproites was identified. Soon thereafter the large 50 hectare Argyle pipe was discovered in the east Kimberley region of Western Australia, conclusively demonstrating that lamproites can produce economic diamond grades and that lamproite hosted diamonds can be equal in quality to those hosted in kimberlites.
