Welcome to Olivut Resources Ltd.
Diamonds – Canada
Olivut Resources Ltd. is an exploration and development company that trades on the TSX Venture Exchange (TSX-V:OLV) Toronto, Canada.
There are 68,840,611 common shares issued and outstanding.
HOAM Project, NWT
- 29 kimberlite discoveries to date
- numerous additional priority drill targets identified
The Company’s principal asset is a 100% interest in the HOAM Project in the Interior Plains region of Canada’s Northwest Territories. The community of Fort Simpson is located approximately 15 kms from the HOAM property in the south and the village of Deline is located about 20 kms from the project area in the north.
This region is considered to be favourable for the emplacement of diamond bearing kimberlites. Olivut has made 29 kimberlite discoveries to date and has additional numerous targets defined for drilling.
Prior to Olivut’s involvement in the area, this region was subjected to little modern exploration techniques. High resolution, regional magnetic geophysical surveys, detailed heli-mag geophysical surveys and geochem sampling programs all conducted by Olivut have identified several favourable areas for kimberlite occurrence.
A National Instrument 43-101 Technical Report (Filed on SEDAR December 12, 2014) was written by Paul Pitman, P.Geo. and details the merits of the HOAM Project.
In 2018 the Company signed an option agreement with Talmora Diamond Inc. (“Talmora”) to earn 50% in Talmora’s Seahorse Project, located in the Inuvialuit region of the Northwest Territories, by spending $1,200,000 over two years on exploration expenditures and making a $200,000 payment to Talmora. The Company has exercised its option to earn 50% of the Seahorse Project in accordance with the terms of the Option Agreement and Olivut and Talmora are joint (50/50) owners of the assets. Talmora retains a 1% NSR on certain land.
The Company considers the Seahorse Project to have the potential to host diamondiferous kimberlite bodies of significant size and perhaps other mineral deposits, based on a combination of: 2019 program results as described below; favourable diamond stability indicator minerals found regionally and locally, including 18 macro diamonds found down-ice in regional samples to the west and northwest; specific geophysical targets; regional and local faults that would favour kimberlite emplacement; occurrence of diamondiferous kimberlites to the north and southeast, as well as other geochemical data in the area. Please refer to the Seahorse Project for more information.