GEOLOGICAL SETTING
Prospectivity envelopes for Diamonds
Buffalo Head Hills kimberlite fieldFavourable
Late Cretaceous kimberlite pipes (38 known) intruding the Buffalo Head terraneBirch Mountains & Mountain Lake kimberlitesPermissive, under-explored
Kimberlite / ultramafic pipes with sub-economic grades
Development regime
- 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.