Arctic Blue Diamonds Acquires 89.7% Interest in WO Diamond Project (DO27 Kimberlite)
July 9, 2025
Arctic Blue Diamonds Ltd. acquired an 89.7% interest in the WO Diamond Project, obtaining a controlling stake in the DO27 kimberlite by purchasing 72.1% from Peregrine Diamonds Ltd. (a De Beers Canada subsidiary) and 17.6% from Archon Minerals Ltd. Arctic Blue will operate the WO Joint Venture, hold diamond marketing rights for future production, and pursue further studies and development options including potential Underwater Remote Mining (URM) technology deployment and off‑site processing of high‑grade diamond concentrate.
- Buyers
- Arctic Blue Diamonds Ltd.
- Targets
- WO Diamond Project (DO27 kimberlite)
- Sellers
- Peregrine Diamonds Ltd., Archon Minerals Ltd.
- Industry
- Industrial Services
- Location
- Northwest Territories, Canada
- Transaction Type
- Buyout
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