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Cision Canada
09-07-2025
- Business
- Cision Canada
ARCTIC BLUE DIAMONDS ACQUIRES CONTROLLING INTEREST IN WO DIAMOND PROJECT HOSTING THE DO27 KIMBERLITE
YELLOWKNIFE, NT, July 9, 2025 /CNW/ - Arctic Blue Diamonds Ltd. ("Arctic Blue"), a private NWT diamond company, today announced the acquisition of an 89.7 percent interest in the WO Diamond Project, which hosts the large, high-grade DO27 kimberlite. A 72.1 percent interest was acquired from Peregrine Diamonds Ltd., a subsidiary of De Beers Canada Inc., and a further 17.6 percent interest was acquired from Archon Minerals Ltd. Arctic Blue is part of the Arctic Blue Group, which includes Arctic Blue LLC, an online diamond jewelry retailer offering a large selection of Canadian fluorescent diamonds on As operator of the WO Joint Venture ("WO JV"), Arctic Blue holds the diamond marketing rights of future diamond production. The WO Project encompasses eight mining leases covering 5,815 hectares located approx. 11 kilometers (km) off the seasonal ice road, 23km from the Diavik Diamond Mine and 53km from the Ekati Diamond Mine. DO27 is one of the largest diamond-bearing kimberlites in Canada. The pipe has a surface area of approx. 9 hectares and lies below a shallow lake with an area of approx. 1 square km and an average depth of approx. 4 meters (m). By comparison, all the kimberlites mined at the Diavik Diamond Mine have surface areas less than 2 hectares, and most of the kimberlites at the Ekati Diamond Mine have surface areas less than 3 hectares. Extensive delineation and resource drilling has been undertaken at DO27, including 114 core holes (24,185m) and 46 large diameter reverse circulation holes (8,840m). DO27 has been explored in detail to a depth of approx. 350m and remains open further to depth. Based on drilling completed to date, the DO27 kimberlite hosts the following Mineral Resources: Notes: - Effective data is August 7, 2008 - Dr. Ted Eggleston, RM SME and Ken Brisebois, are the Qualified Persons for the estimate. - Mineral Resources are stated at an effective 1mm bottom cutoff and are constrained within a conceptual mining shell based on assumptions of a diamond price of US$72/carat, 100% metallurgical recovery, US$2.05/t mining costs with an incremental $0.02 per 10m depth, US$19.96/t operating costs including on-site scrubbing and an estimate for trucking to, and processing at, an off-site diamond processing facility. At depth, beneath the Indicated Mineral Resource, an additional 6.5-8.5 million tonnes of kimberlite grading in the range of 0.8-1.0 carats per tonnes (cpt) represents a target for further exploration. The potential quantity and grade of this target is conceptual in nature. Further resource drilling will be required to define an expanded mineral resource. It is uncertain whether additional exploration will result in the target being delineated as a mineral resource. Independent valuations of diamonds recovered from DO27 were conducted in 2006 and 2007 by WWW International Diamond Consultants Ltd. ("WWW"). The 2007 valuation was based on a parcel of 2,075 carats. The DO27 Mineral Resource declared in 2008 assumed an average rough diamond price of US$72 per carat. In July 2014, WWW provided a report showing a general upward trend of rough diamond prices since the 2007 valuation. Based on independent rough diamond price indices, the average rough diamond price for the DO27 parcel is now projected to have increased to between US$90 and US$100 per carat. Unlike most kimberlites, the DO27 ore is extremely soft with a very low density. Based on this, Peregrine Diamonds retained AMEC Americas Ltd. to develop an Ore Concentrate Option whereby a simple ore washing process removes high quantities of unwanted fines fractions below 1mm and retains the +1mm ore fractions for final processing at an off-site diamond recovery plant. Testing of the DO27 kimberlite confirmed that approx. 90 percent of the ore in the first 60m depth interval will report to fines after the washing process. This significantly reduces the volume of diamond-bearing ore to be transported to an off-site diamond plant. Arctic Blue Executive Chair Patrick Evans commented: "As some of the existing diamond mines approach the end of their economic lives, DO27 offers the opportunity to extend the life of the existing diamond plants by producing a very high-grade diamond concentrate of over 80 carats per tonne suitable for shipment to existing diamond recovery facilities, or alternatively to a purpose-built facility in Yellowknife." Mr. Evans added: "The extremely soft nature of the DO27 ore also opens the potential for the deployment of Underwater Remote Mining (URM) technology. Kimberlites with soft, low-density ore can be mined most efficiently using URM systems. Besides offering exceptionally low capital and operating cost opportunities, URM is the most sustainable form of mining, with minimal impact on the environment." The URM system for kimberlites was developed by IHC Mining, a division of Royal IHC ("IHC") of The Netherlands, and is based on decades of deep-sea mining and trenching experience. In 2018, Dominion Diamond Mines contracted IHC to develop a URM system for deployment at the Ekati Diamond Mine in Canada's Northwest Territories. Over the past seven years, various elements of URM systems have been tested, and capital and operating costs have been modeled. The test results confirmed that the most suitable system for underwater kimberlite mining is the "Crawler" system. As announced by IHC Mining on September 14, 2022: "The underwater mining crawler is a remote operated continuous mining machine, equipped with the latest underwater control and positioning equipment. The ore is directly excavated with a drum cutter in small layers and eliminates the need for blasting explosives. From the crawler, the ore is pumped to the surface of the flooded pit via a vertical pipeline system to the Launch and Recovery Platform, from where the ore is transported further to a dewatering plant. The crawler system is capable of operating at a water depth of up to 400 meters." The Ekati Diamond Mine's first mining crawler has been built at IHC's facility in the United Kingdom. While the WO Project remains on care and maintenance, environmental, geological, and engineering studies will be undertaken to assess development opportunities for the DO27 kimberlite, including the potential for deployment of URM technology and production of a high-grade diamond concentrate for offsite treatment and final diamond recovery. About Arctic Blue Diamonds Ltd. Arctic Blue Diamonds Ltd. is a private NWT corporation focused on the development of the DO27 kimberlite in Canada's Northwest Territories
Yahoo
24-06-2025
- Business
- Yahoo
Arctic Blue Beverages to set up venture with US consortium
Finland's Arctic Blue Beverages has signed a letter of intent to form a joint venture with a group of US investors led by former NHL star Teemu Selänne. The venture is planning to launch Arctic Blue Beverages' ready-to-drink Arctic Blue Long Drink brand and portfolio in the US, starting with California. The agreement will see the venture 'jointly owned and governed' by the investor group and Arctic Blue Beverages. The investors will put in between $2-2.5m to support the brand's entry to market, plus its 'initial growth phase'. The 'definitive agreements' governing the venture are expected to be completed by the end of August. The partners anticipate commercial operations will start between the fourth quarter this year and the opening three months of 2026, a statement from Arctic Blue Beverages read. 'This is a significant milestone in our international expansion strategy. Teemu Selänne is not only a legendary athlete but also a highly respected name in lifestyle and business, especially in California. We're proud to partner with him and his investor group to introduce Arctic Blue Long Drink to the US market," Arctic Blue Beverages executive chairman Antti Villanen said. The company launched its Long Drinks line last year in its home market where the group said the range 'has demonstrated strong product-market fit and brand traction'. The Long Drinks range is made using the company's Arctic Blue gin, and comes in four varieties. "I have been following Arctic Blue Beverages for some time and truly believe in what the company stands for,' Selänne said. 'The Finnish purity shines through in every sip of their Long Drink, which combines authentic taste with a premium design that stands out in the market. I'm excited to bring this unique experience to consumers in the U.S.' Arctic Blue Beverage's full portfolio includes the liquorice liqueur Arctic Blue Laku, Arctic Blue gin and Arti Blue Oat, which the group claims is 'the world's first dairy-free gin-based oat liqueur'. As well as its domestic market, the group sells in markets including Sweden, Japan and Australia. "Arctic Blue Beverages to set up venture with US consortium" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
