16th Oct 2013 09:24
LONDON (Alliance News) - Stellar Diamonds PLC Wednesday said it has completed its first ore blast in its bulk sampling programme at the Tongo Kimberlite Dyke project in Sierra Leone.
The AIM-listed diamond development and production company focused in West Africa said the ore blast was completed on schedule, and said it is aiming to collect a diamond parcel of up to 2,000 carats for modelling the site's resources.
The company said that in the coming months it plans to extract, through controlled drilling and blasting, roughly 2,000 tonnes of Kimberlite.
Stellar also said a dense media separation plant is on-site ready to test the material found and that photographs will be taken and uploaded to the company's website showing the diamonds.
The company said at this point its diamonds are of high quality with the average modelled value of USD248 per carat, despite not achieving any diamonds larger than 4 carats in its last parcel tested.
Stellar Diamonds was trading down 7.7% at 1.06 pence Wednesday morning.
By Tom McIvor; [email protected]; @TomMcIvor1
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