Stellar Diamonds Announces Start of Tongo Project Feasibility Study

Stellar Diamonds plc has started bulk sampling at its Tongo project in Guinea as part of the feasibility study of the 1.1-million carat resource at Dyke-1.
 
The firm says it intends to drill, blast and process approximately 2,000 tons of kimberlite from the previous bulk sample site on Dyke-1. Bulk sampling has yielded around 1,150 carats.
 
“The commencement of the next and larger phase of bulk sampling is an important step in the feasibility process as it will increase our confidence in the average diamond values for Dyke-1,” said CEO Karl Smithson.
 
“We also intend to explore and assess other kimberlites within the Tongo licence area, to further enhance the diamond resource base and project value. As previously reported, sampling of Dyke-4 returned a grade and value of 110 cpht and $140 per carat respectively.”
 
Smithson also said that Stellar was in talks with a number of independent consulting groups, one of which will be selected to oversee the definitive feasibility study.
 
The Tongo project has a current JORC compliant inferred resource of 1,074,000 carats at a grade of 120cpht and modelled average diamond value of $248 per carat giving an in-situ value of $298/t of kimberlite ore.