Star Diamond (TSX: DIAM) has chosen the trademark “Kīwētin” (pronounced “kee-way-tin”), which means north wind in Cree, for its Fort à la Corne diamonds. The winning name was submitted by Amy P. from more than 1,000 entries in the company’s naming contest last month.
Star says the name is highly symbolic of the Fort à la Corne project area and surrounding First Nations lands in northern Saskatchewan, where the climate is often characterised by strong winds from the north. The trademark application for Kīwētin diamonds has been completed.
“We are excited about the further potential of the Fort à la Corne project and now that we have our own diamond brand, Kīwētin, we are confident that this diamond brand will be recognised worldwide as the hallmark of high purity, conflict free Canadian diamonds,” said Ewan Mason, Interim President and CEO of Star Diamond.
Star holds a 25% interest in the Star-Orion South kimberlite within the Fort à la Corne project, with the operator, Rio Tinto Canada, holding the balance.
The property is located in central Saskatchewan. A preliminary economic assessment of the project estimated a mineable resource of 470 million tonnes averaging 14 carats per hundred tonnes (cpht) containing 66 million carats over a 34-year mine life. Pre-production capital costs would be $1.42 billion.
Last year, Rio Tinto decided not to commit further funds to the Fort à la Corne properties. The camp was demobilised and the project placed on care and maintenance in the first quarter of 2023. Star is working with Rio Tinto to evaluate alternatives for the project.
Star also holds a 50% interest in the Buffalo Hills joint venture in north central Alberta. Canterra Minerals holds the other 50% interest and is the operator.
Diamond valuation has shown that the K14 and K6 kimberlites have elevated modelled prices of $160 and $180 per carat respectively. Type IIa gemstones have been recorded in all four kimberlites at Buffalo Hills.
