Striker has acquired an 80% interest in Casuarina, covering an area of 710 sq.km east of its Ashmore diamond project.
“We have had our eyes on this tenement for six or seven years now, but it has been tied up,” Striker’s managing director Clayton Dodd said.
“It is in an extremely strategic area and from our interpretation it shows similar geographical features to our Ashmore and Seppelt diamond projects.”
To date, Striker has recovered 13,511 diamonds weighing up to 10.5 carats at Ashmore and Seppelt.
Capricorn Resources Australia NL (now B2B Net Technology) and Dioro, in joint venture, had explored the project for diamonds since 1995.
A detailed aeromagnetic survey identified 18 possible kimberlitic anomalies at Casuarina.
Dodd said although Casuarina was in the advanced stages of exploration, Striker would bring technological expertise on board to move the project along.
Striker will manage the project, and following total expenditure of $5.25 million will hold an 80% interest in the project. The company will free carry Dioro’s 20% interest until a decision to mine is made.
A map (320k) of the kimberlite province can be downloaded here.
