12th Feb 2014 09:24
LONDON (Alliance News) - Stellar Diamonds PLC Wednesday said that further high grade diamonds have been returned from bulk sampling at its Tongo dyke kimberlite project in Sierra Leone.
The Sierra Leone focused diamond miner said initial sample processing yielded 151 carats from 141 tonnes of kimberlite for a grade of 107 carats per hundred tonnes.
The company said further results are expected roughly every four weeks, and it is anticipated that diamond grade will continue to increase as more diamonds are recovered following re-processing.
Stellar Diamonds said the sampling found outstanding quality of diamonds at 86% gem quality with several stones more than 1 carat in size, and its objective is to recover a minimum 1,000 carat parcel for diamond grade and value confirmation.
The company said the bulk sampling is ongoing and 772 tonnes have been collected to date as part of the site definitive feasibility study, which is expected to be completed in 2014 leading to a production decision at Tongo.
Stellar Diamonds shares were up 7.4% to 1.45 pence, putting it in the top ten AIM movers in early trading Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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