Mineral exploration company from Greenland NunaMinerals (CPH: NUNA) said its Qaamasoq prospect has been confirmed as a diamond-play. The company had previously identified considerable quantities of kimberlitic float, which have now been established to contain diamons. The stock has climbed 25% on the news.
The float occurs particularly at a 550 x 250 m Nest area. The rocks have been sourced in deep mantle. The actual dimension of the source is not yet known but NunaMinerals compared to mineralogy to the nearby Garnet Lake diamond deposit, which belongs toHudson Resources Inc. (TSX-V: HUD ). NunaMinerals says it is seeking a partner for the prospect.
Earlier this week Nunaminerals reported mixed results from one of its REE plays. The largest owner of the company is the government of Greenland. NunaMinerals has previously communicated it is considering a second listing on an exchange focused in mining companies to attract more capital. Previously the company has often seemed to only report non-favourable results come interim report time
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