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Stellar Diamonds to Increase Diamond Resource at Tongo
Aug 19, 2014 5:36 AM
By Deena Taylor
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RAPAPORT... Stellar Diamonds said it was set to increase the diamond resource at it its Tongo kimberlite project in Sierra Leone from the current resource estimate of 1.1 million carats, following the completion of final bulk sampling.
The company recovered 1,182 carats from kimberlite ore during the final bulk sample grading with an average grade of 178.70 carats per hundred tonnes (cpht), 49 percent higher than the 120 cpht that is listed in the current resource estimate. Stellar also recovered 53 diamonds larger than 1 carat, including a 6.70-carat diamond and a 4.60-carat stone.
Karl Smithson, the CEO of Stellar Diamonds, noted that Tongo continues to yield positive results. "The diamond parcel will now undergo valuation and modeling, with the results expected by early September 2014, prior to a revised financial model and updated resource statement, which we hope to have issued shortly thereafter," he said.
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Tags:
Deena Taylor, diamonds, Stellar Diamonds, tongo
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