Astute’s wholly owned Lower Smoke Creek Diamond Project is located immediately south west of Lake Argyle in Western Australia, just 20km north east of one of the world’s largest diamond deposits, Rio Tinto’s AK1.

Alluvial diamonds that have been recovered from Lower Smoke Creek Project area are derived from the AK1 diamondiferous pipe. Mining of alluvial diamonds derived from the pipe has been undertaken commercially since the discovery of the AK1 pipe (1979).

The initial work plan will focus on the reliability of GPR mapping of the paleostream and undertake interpretation of the passive seismic and/or detailed gravity surveys.

The Company is planning a spin-off of its interest in East Kimberly Diamonds and will be retaining its interest in that entity.