Diamonds

POTENTIAL & KNOWN RESERVES IN ALBERTA

51 kimberlites; Buffalo Head Hills 26–28 diamondiferous; K252 0.55 ct/t (22.8 t sample)

Confidence: Inferred

• Buffalo Head Hills38–41 kimberlites, 26–28 diamondiferous; 21 leases, 4,800 haMining.com — Star Diamond ↗
• GradesK252 0.55 ct/t (breccia 0.85); K14 11.78 cpht (479 t bulk); K6 6.3 cphtStar Diamond — geology ↗

Where it occurs

• Buffalo Head Hills (K252, K14, K91, K6)
• Birch Mountains (Legend, Phoenix — generally non-diamondiferous)
• Mountain Lake

Official reserve pins on the map

• Buffalo Head Hills — 26 diamondiferous kimberlites (K252 0.55 ct/t)26 diamondiferous pipes · Resource estimate · 2024Star Diamond / AER ↗

Live Atlas valuation (reference scenario)

1 subsurface asset priced by the Atlas engine: economic value $0. Move the Scenario Laboratory sliders on the map to reprice.

• Northern Kimberlite Indicator Trail480 Mt in place · recoverable $0 · economic $0 (0% clears break-even)

GEOLOGY: WHAT MAKES A DEPOSIT MORE LIKELY

Kimberlite pipes and crater facies intruding thick, cold Archean–Paleoproterozoic lithosphere; diamonds preserved where the mantle root sits in the diamond stability field.

Host formations

Late Cretaceous kimberlite pipes (75–88 Ma) through the Buffalo Head terrane

Depth range

0–300 m

Favourable conditions

• Buffalo Head terrane with deep, cold lithospheric root
• Circular aeromagnetic anomalies beneath thin Cretaceous cover
• G10 garnet and chromite indicator trains in till

Prospectivity envelopes on the map (2)

• Buffalo Head Hills kimberlite fieldFavourable
  Late Cretaceous kimberlite pipes (38 known) intruding the Buffalo Head terrane · 0–300 m
  • Thick, cold Archean–Paleoproterozoic lithosphere (Buffalo Head terrane) favouring diamond preservation
  • Circular aeromagnetic lows / highs beneath thin Cretaceous cover
  • Kimberlite indicator minerals (G10 garnet, chromite) in till trains
  Source: Ashton / Pure Diamonds era drilling; K14 and K252 pipes were the best grades.
• Birch Mountains & Mountain Lake kimberlitesPermissive, under-explored
  Kimberlite / ultramafic pipes with sub-economic grades · 0–300 m
  • Known pipes with microdiamonds only
  • Pipes sit on a basement domain boundary (Taltson / Buffalo Head)
  Source: AGS kimberlite compilations.

DATASETS THAT TEST THE TARGET

Stack these layers on the integrated map

Discriminating datasets first, then every catalogued public dataset tagged to this commodity. Verified endpoints draw directly; link-only entries open the publisher page.

• Precambrian magnetic basement domains (AGS)Alberta Geological Survey · Aeromagnetics · drawable · verifiedCraton architecture for diamonds (thick cold lithosphere), radiogenic basement for helium, and shear zones for uranium and gold.Source ↗
• Residual magnetic intensity grid (LERC, link only)Alberta Geological Survey · Aeromagnetics · link only · verifiedCircular anomalies flag kimberlites; linear gradients map basement faults and domain boundaries.Source ↗
• Kimberlite and ultrabasic intrusionsAlberta Geological Survey · Mineral occurrences · drawable · verifiedKnown pipes; cluster geometry guides step-out targeting.Source ↗
• Kimberlite indicator mineral sample countsAlberta Geological Survey · Geochemistry · drawable · verifiedIndicator trains point up-ice to undiscovered kimberlites.Source ↗
• Glacial landforms (moraines, flutings, meltwater channels)Alberta Geological Survey · Surficial geology · drawable · verifiedIce-flow direction for tracing kimberlite-indicator and gold-grain till trains back to source.Source ↗
• GSC geochronology knowledgebaseNatural Resources Canada – GSC · Geochemistry · drawable · verifiedBasement and kimberlite ages for craton reconstruction.Source ↗

VALUE & VALUE CHAIN

Zimnisky rough diamond index: 123.1 (Nov 2025), −8.6 % y/y; 2022 peak 207.3

Not valued in the Atlas deck (indicator only) until a grade and price per carat are established.

Value chain

1. Bulk sampling
2. Open pit / underground
3. Dense-media separation
4. Rough sales (Antwerp)
5. Cutting and polishing

Industries and products that rely on it

DEMAND & PRODUCTION PROJECTIONS

What the forecasts say

• ZimniskyIndex projected ≈155 by 2029 (from 123)Stockwatch / Zimnisky ↗

Key risks

• Grade
• Diamond price erosion
• Financing

DEVELOPMENT: TENURE, ROYALTY, PERMITTING

What a developer needs to know

Tenure

Metallic & Industrial Minerals Tenure Regulation (AR 265/2022): permit — exclusive exploration right, indefinite term, no rent, $625 fee, assessment work $7/ha (first 2 years) → $13 → $20/ha; lease — 15-year initial + 15-year intermediate term, indefinite while producing, $3.50/ha rent.

Royalty

Metallic minerals: 1 % of mine-mouth revenue pre-payout; post-payout the greater of 1 % mine-mouth or 12 % of net revenue (AR 350/93 s.4). Diamonds are treated as metallic minerals; Canterra retains a 1 % royalty on Buffalo Hills.

Lead time

10+ years

Permitting path

1. AER Directive 091 (rock-hosted minerals) under the Mineral Resource Development Act, in force Feb 2024
2. EPEA approval and Water Act licence
3. Public Lands Act surface disposition on Crown land
4. Indigenous consultation via the Aboriginal Consultation Office

Infrastructure needs

• All-season road
• Power
• Process plant

Active players

Recommended next steps

• Larger bulk sample on K252 and K14
• Diamond valuation for Type IIa content
• Re-process aeromagnetics for undiscovered pipes

MINES, PILOTS & PROJECTS (1)

Who is already working this commodity in Alberta

• Buffalo Head Hills diamondsDiamond exploration · Star Diamond · 38 kimberlites, 26 diamondiferous; K252 55 cphtExploration (2026)100 % acquired July 2024; bulk sample planned.Source ↗