diamond news: mining news: Diamond miner Stornoway Diamond Corporation (TSX:SWY) has filed a National Instrument (“NI”) 43-101 technical report representing the qualifying report for the recently updated mineral resource estimate at the Renard Diamond Project in North Central Quebec. The Renard Diamond Project, which includes the Renard kimberlite pipes and the Lynx-Hibou system of kimberlite dykes, is a 50:50 joint venture with SOQUEM INC. (“SOQUEM”).
Highlights of the NI 43-101 compliant mineral resource (previously reported by Stornoway on December 08, 2009) include:
- A total Indicated Mineral Resource of 23.0 million carats (an increase of 228% over the previous estimate published in December 2008).
- A total Inferred Mineral Resource of 13.3 million carats, (an increase of 196% over the 2008 estimate).
- A revised diamond valuation of US$117 per carat to be applied equally to the Renard 2, 3, 4 and 9 kimberlite pipes.
Next Steps
A revised Preliminary Assessment of the Renard Diamond Project utilizing the new mineral resource statement is currently being prepared by Scott Wilson Roscoe Postle Associates. This new study will incorporate a revised conceptual mine plan, updated capital and operating costs, and revised estimates of project economics. Its receipt is expected within the first quarter of 2010.
Stornoway Diamond Corporation
Stornoway Diamond Corporation is one of Canada’s leading diamond exploration and development companies, involved in the discovery of over 200 kimberlites in six Canadian diamond districts. The Company benefits from a diversified diamond property portfolio, a strong financial platform and management and technical teams with experience in each segment of the diamond “pipeline” from exploration to marketing. The Renard Diamond Project is managed by Dave Skelton, P. Geol. (AB/QC), Vice President, Project Development, and a Qualified Person under NI 43-101.
SOQUEM INC.
SOQUEM is a wholly-owned subsidiary of Societe generale de financement du Quebec (“SGF”). The SGF, the Quebec industrial and financial holding company, has as its mission to undertake economic development projects in the industrial sector in cooperation with partners and in compliance with the economic development policies of the Government of Quebec.
Related posts:
- Stornoway takes First Step in Mine Permitting Process for Renard Diamond Project in North Central Quebec
- Stornoway Announces Revised NI 43-101 Mineral Resource Estimate for Renard Contained Carats More Than Tripled; Deposit Still Open
- Stornoway Diamonds Announces Fourfold Tonnage Increase in Renard 2
- Stornoway Diamonds says Renard Drilling Expands Three Kimberlite Pipes
- Stornoway Diamonds Commences Fall Drilling At Renard Diamond Project
