Stellar Diamond following the release of its Sierra Leone asset sampling results few weeks ago, the diamond miner this Wednesday delivered what it described as “encouraging” results from the first phase of its bulk sampling programme at the Droujba kimberlite pipe in neighboring Guinea.
Stellar said 448 tonnes of diamond bearing kimberlite rock were processed, which yielded 268.45 carats of diamond. The miner calculated “initial grade” at 60 carats per hundred tonnes which “includes stones at 13.8 carats, 6.06 carats, 3.75 carats and 2.9 carats”, adding that “re-processing of tailings is likely to increase the grade further”.
The company remains on track to deliver a maiden resource estimate by the end of next month.
Commenting on the Droujba results, Chief executive Karl Smithson said: “The first two bulk sample results are very encouraging, with an initial grade of 60 carats per hundred tonnes being realized from initial processing”, which he said “is consistent with the expectation of high grade”.
“Recovery of a number of large stones” including a 13.8 carat and a 6.06 carat stone, from a “relatively small” parcel of 268 carats of diamonds, “suggests a coarse size distribution” to the diamond population. Smithson concluded.
Stellar further disclosed that “Sample processing is progressing well” and “remains on track for delivery of the maiden resource statement for the Droujba pipe by the end of March”, and to update shareholders as work progresses.
Stellar shares rose sharply after bulk sampling results described as “excellent” from Dyke 1 at Tongo were made public few weeks ago. Grade was indicated at 121 carats per hundred tonnes with an average diamond value of US$185 per carat, while microdiamond analysis indicated “encouraging size distribution”. Initial resource drilling of a 1.9 kilometre section of the 2.5 kilometre long Dyke 1 kimberlite was completed in December with the remaining to be drilled during the next phase of resource definition.
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