Market Herald logo

Subscribe

Be the first with the news that moves the market
  • RJK Explorations Ltd.  (RJX) has discovered new kimberlite deposits on its Kon Property, in Cobalt, Ontario.
  • The discovery was made during a drill-test program across the are
  • This latest discovery is part of the company’s on-going drill-program into the property’s kimberlite deposits.
  • The company’s stock has shot up over 230 per cent since last November
  • RJK Explorations Ltd. (RJX) stock remains unmoved, with shares currently trading at C$0.30

RJK Explorations Ltd. (RJX) has intersected kimberlite during a drill-testing program.

The news was revealed today in an update on the company’s exploration efforts at the Kon Property, which is located in Cobalt, Ontario.

Last month the company utilised a drone magnetic survey in order to prioritise targets on the property, combining this data with data about the Kon Property’s existing Kimberlite mineralisation.

“We are very pleased with the initial drilling on the Kon Claims. This new discovery of kimberlite in a world class mining camp is the result of a year of dedication by the RJK team and I would like to thank them for their hard work,” stated President and CEO, Glenn Kasner

Kimberlite is a type of igneous rock which can be indicative of diamond deposits. The area has never previously been drilled for potential as a diamond mine.

RJK Explorations Ltd. has a three-year option on the property.

Further targets have been identified on the property and they will be drill-tested throughout the next few months. Additional drone surveys will also be taken to identify targets for later drill testing.

The hunt for diamonds is being fuelled by the historical discovery of The Nipissing Yellow Diamond over a hundred years ago, which was estimated to weigh 800 carrots

RJK Explorations Ltd. stock has leapt up over 230% since last November when they announced their expansion into the Kon Kimberlite regions of Cobalt.

RJK Explorations Ltd. (RJX) stock remains unmoved, with shares currently trading at C$0.30.

More From The Market Herald

" Barksdale (TSXV:BRO) announces latest drill results from San Javier, Mexico

Barksdale Resources (BRO) has released assay results for another eight drill holes in its 5,000-metre Phase I program.

" Solis Minerals (TSXV:SLMN) upgrades OTC listing

Solis Minerals (SLMN) is attempting to upgrade its U.S. Over The Counter (OTC) listing to the OTCQB level.

" Prismo Metals (CSE:PRIZ) begins work at Los Pavitos

Prismo Metals (PRIZ) has mobilized a crew of geologists to its Los Pavitos project in Sonora State.

" Element 29 (TSXV:ECU) reports final three holes from drilling at Elida

Element 29 Resources (ECU) has completed its seven-hole, 4,500-metre drill program at the Elida Copper Project.