Projects
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 and Background
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 Africa where previous exploration has identified diamonds and indicator minerals but not their source rocks.
Gemstar’s geologists now have a better understanding of the Australian deeply weathered laterite terrains and the significant impact of these on diamond exploration techniques. Gemstar believes that the knowledge of lamproite geology developed in exploring the Kimberley region in Australia can also be applied to the Bushmanland ultramafic province in South 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.
South African Projects
The areas which are the subject of the two South African projects, Bushmanland and Palmietfontein, have a well documented history of exploration and evaluation in the 1970’s and 1980’s. In the case of Palmietfontein, prior to Gemstar’s involvement a large kimberlite pipe has been delineated and sampled and a “global” diamond grade has been established. The Bushmanland project is based on the testing of the hypothesis that buried diamondiferous lamproite pipes (yet to be discovered) exist within the Bushmanland pipe swarm.
West Australian Projects
Gemstar holds or has applied for seven diamond exploration projects in Western Australia as described below. All the projects are located in areas previously explored for diamonds by other companies.
