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STAR DIAMOND CORPORATION ACQUIRES 100 PERCENT INTEREST IN BUFFALO HILLS DIAMOND PROJECT
STAR DIAMOND CORPORATION ACQUIRES 100 PERCENT INTEREST IN BUFFALO HILLS DIAMOND PROJECT ...
About this update from Star Diamond Corporation
[{"type":"text","content":"\n \n \n \n STAR DIAMOND CORPORATION ACQUIRES 100 PERCENT INTEREST IN BUFFALO HILLS DIAMOND PROJECT\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: DIAM\n \n \n \n \n \n SASKATOON, SK\n \n \n ,\n \n \n July 15, 2024\n \n \n /CNW/ - Star Diamond Corporation (\"Star Diamond\" or the \"Corporation\") is pleased to announce that, pursuant to a definitive agreement dated\n \n July 11, 2024\n \n , the Corporation has acquired the interest of Canterra Minerals Corporation (\"Canterra\") (TSXV: CTM) in the Buffalo Hills Diamond Project (the \"Project\") in north central\n \n Alberta Canada\n \n . Upon closing\n \n Star Diamond\n \n will hold 100% of the Project.\n \n \n \n \n \n \n \n \n \n As consideration for Canterra's 50% interest in the Project, the Corporation will issue 17,500,000 common shares (the \"Consideration Shares\") representing an implied purchase price of\n \n $1.1 million\n \n . One half of the Consideration Shares are subject to a 12-month lock-up arrangement. In addition to the Consideration Shares, Canterra was granted a 1% royalty interest in the Project. Completion of this acquisition is subject to certain customary closing conditions, including approval of the TSX. All of the Consideration Shares are subject to a customary four month hold period.\n \n \n \n \n Ewan Mason\n \n , President and CEO of Star Diamond Corporation\n \n said: \"We are excited to gain control of the 50% of Buffalo Hills Diamond Project we did not own In early 2023, we dusted off the file on this property and conducted an examination of the existing diamond parcel that was collected from a bulk sample previously taken in 2010. Our diamond specialist thoroughly analyzed the diamonds and we were astonished to find not only anomalous levels of Type IIa diamonds in the sample but also a presence of fancy yellow diamonds (\n \n K6 yellow diamonds\n \n ) with elevated modelled diamond prices. It became clear to us that further work needed to be done and with a number of pipes at surface we believe that a larger bu...