CMKM article,...looks like others will now notice this company.
Saturday, February 21, 2004
Diamond driller targets Weirdale
BARRY GLASS/Daily Herald
A small company has made big plans for diamond exploration work in the Prince Albert region this year.
Casavant Mining Kimberlite International recently announced it purchased its own drill rig and received financing to get started.
The company holds mineral claims to more than 1.4 million acres in the province in an area stretching from north of Candle Lake down to St. Louis.
“We anticipate to start drilling up by Weirdale,” said company president Urban Casavant.
Weirdale is 58 kilometres northeast of Prince Albert and close to the Fort à la Corne claims of other companies drilling for diamonds.
Casavant Mining’s drilling program should begin within a month or so.
“It’s going to be an aggressive program,” said Casavant.
“We figure if we have no problems we can drill a hole a week.”
He wants to drill several properties over the next two years at a cost of about $10 million.
The company announced Friday a longtime individual investor in the company has put in $1.8 million US with a pledge of another $3.2 million US upon completion of a feasibility study and core sampling results.
Casavant Mining is a Las Vegas-based company publicly traded in the over-the-counter securities markets.
Being located in the United States gives the company access to the money needed for its planned drilling, said the president.
He said once people know how much work is involved in diamond exploration, they understand what it takes to get a mine into production.
“It takes money and money and money and a little bit of luck,” he said.
The company also has interests in property near Green Lake, 180 kilometres northwest of Prince Albert.
Casavant Mining will use an outside contractor for drilling in that area so its own rig can stay in the Fort à la Corne region.
Casavant said he’s happy to be at this stage.
“I’ve been at this prospecting and claiming land for about 15 years now,” said the self-taught prospector. “So I’ve been chasing this for a long time, and it’s finally all going to come together.”
The company is involved with many other companies in joint ventures in the area, he said, adding it also hope to do aerial survey work in the near future.
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