Copper Reef continues, as part of its diversified, portfolio to pursue a kimberlite discovery in a new emerging camp. Pikoo is a new diamondiferous kimberlite district located in east central Saskatchewan, associated with the Archean-aged Saskatchewan Craton. On November 6, 2013, North Arrow announced the discovery of two distinct kimberlite indicator mineral trains in the area and, in follow-up drilling, the PK 150 kimberlite, which returned 745 diamonds larger than 0.106 mm, including 23 diamonds larger than 0.85 mm from a 209.7 kg sample of drill core. To date, seven discrete kimberlite occurrences have been identified. In addition, other publicly-traded companies have recently identified distinct kimberlite indicator mineral trains in the Pikoo area.
Copper Reef has four properties, B1, B3, C2 and C3 in the camp based on magnetic anomaly clusters and targets similar to kimberlites that host diamonds.
On the B1 property, in 2014 work consisting of an airborne magnetic survey followed by till sampling and ground magnetic surveys turned up a number of strong circular magnetic targets typical of kimberlites with corresponding till samples containing kimberlite indicator minerals. In 2015, the anomalies were prospected and additional follow-up till samples were collected.
On C2 and C3 preliminary work consisted of till sampling for kimberlite indicator minerals down ice from 10 separate circular airborne magnetic anomalies. Two promising anomalies and one minor anomaly, possibly a dipole, are located on the C3 property. A cluster of four promising anomalies and three to four minor anomalies are located on the C2 property. Prospecting and magnetic susceptibility readings on outcrops will be conducted over the magnetic targets in order to try to ascertain the source of these anomalies.