From GlobeNewswire: 2025-01-17 09:15:00

Olivut Resources Ltd. provided an update on the 2024 field program on the Seahorse Project, where a mini bulk sample was collected following positive results of one macrodiamond and 19 microdiamonds in heavy mineral beach sand concentrates. A drill program is planned to test the main Seahorse geophysical target and related targets.

Analysis of 51 samples from the mini bulk sample program did not recover any macro diamonds, likely due to dilution from wave action. The priority now is drill testing the main Seahorse target, given the previous recovery of 19 microdiamonds and a macrodiamond, along with large pyrope grains.

Dr. Malcolm McCallum’s examination of the 51 coarse samples from the mini bulk sample program shows very few heavy minerals compared to previously collected diamond-bearing samples. The original samples were primarily comprised of lighter, silicate minerals, suggesting dilution.

An unscreened 2024 sample from shallow water showed elevated levels of potassium, aluminum, and sodium, likely due to clay minerals present. The Seahorse Project is considered to have potential for significant diamondiferous kimberlite bodies based on various factors, including caustic fusion results, drill program results, and regional indicators.

The Seahorse Project is a joint venture between Olivut and Talmora Diamond Inc. Additional financing will be required for future work programs, including the planned drill program on the main Seahorse target. Olivut is a diamond exploration company with interests in the HOAM Project and the Seahorse Project in Canada’s Northwest Territories.

The HOAM Project has multiple drill-ready targets. Forward-looking statements in the press release highlight potential risks and uncertainties surrounding the Company’s operations, business, and financial performance. Todd McKinlay, PGO, has approved the scientific and technical disclosure in the release, while Leni Keough, P.Geo., serves as the President and CEO.



Read more at GlobeNewswire: Olivut Provides Exploration Update