Research, a heavy mineral and diamond exploration research laboratory. In 1983, he founded Dia Met Minerals, which became listed on the Vancouver Stock Exchange in 1984. Dia Met was sold to BHP Billiton in 2001. In 1988, Fipke and partner Stu Blusson began a systematic search for diamonds in the Northwest Territories, leading to the discovery of the first diamond pipe in North America in November 1991 near Lac de Gras. The Ekati Diamond Mine is now located there. Fipke maintained a 10% interest in Ekati until 2014, when he sold his share to Dominion Diamond Corp. for . "I'm not really a miner," he said. "I'm an exploration geologist. This sale gives me more ability to do exploration." Fipke is currently involved in multiple greenfield projects, involving searches for diamonds in Ontario with Metalex Ventures, for gold in the Yukon, Nevada and Yemen with Cantex Mine Development and for uranium along the Manitoba–Saskatchewan border with Northern Uranium. Horse racing Fipke bought his first thoroughbred racehorse in 1981 and has subsequently become a significant owner and breeder. His major winners include: Forever Unbridled, winner of the 2017 Breeders' Cup Distaff, multiple graded-stakes winner and daughter of Lemons Forever Perfect Soul, winner of the 2003 Shadwell Turf Mile Tale of Ekati, named for his diamond mine, winner of the Grade I Wood Memorial and Cigar Mile in 2008 Not Bourbon, winner of the 2008 Queen's Plate Seeking the Soul, winner of the 2017 Clark Handicap and track record setter for miles at Keeneland Lemons Forever, winner of the 2006 Kentucky Oaks at odds of 47–1 Unbridled Forever, winner of the 2015 Ballerina Stakes and full sister to Forever Unbridled Perfect Shirl, winner of the 2011 Breeders' Cup Filly and Mare Turf Jersey Town, winner of the 2012 Cigar Mile Java's War, winner of the 2013 Blue Grass Stakes Internallyflawless, winner of the 2009 Del Mar Oaks Golden Soul, a longshot in the 2013 Kentucky Derby, who finished second and had a payout more than three times higher than the winner Orb (38.60 to place vs. 12.80 to win) Tale of Verve, second to American Pharoah in the 2015 Preakness Stakes at odds of 28–1 Fipke owns two farms in Kentucky where he houses roughly 75 broodmares. He breeds mainly to stallions Tale of Ekati, Perfect Soul and Jersey Town. Honours and awards Fipke has received multiple honors, including: The Northern Miner'''s