Advanced Search

Sierra Leone Renews Stellar Diamonds' Tongo License

Jul 31, 2012 9:28 AM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Sierra Leone renewed Stellar Diamonds'  exploration license at the Tongo diamond project. The project's four diamondiferous kimberlite dykes represent an inferred resource of 660,000 carats with a modeled diamond value of $248 per carat. Drilling and evaluation is ongoing with the objective of increasing the resource estimate. Stellar Diamonds stated that discussions are continuing with the Ministry of Mines concerning the renewal of its Kono license.

Karl Smithson, the chief executive of Stellar Diamonds, said, ''The renewal of our Tongo exploration license, in line with the Mines and Minerals Act of 2009, enables the company to pursue its objective of doubling the existing 660,000 carat resource through the ongoing drilling and evaluation program. We are on track to deliver an upgraded resource statement for Tongo in the fourth quarter of this year.''

Tags: Jeff Miller, stellar
Similar Articles
Lace Diamond Mine DiamondCorpDiamondCorp Agrees to Loan Deal
Feb 28, 2017
DiamondCorp has reached an agreement with one of its lenders, enabling...
Similar Videos
Explorers Jump Start Projects, Damas Designs for Spring
Jan 30, 2013
Gemfields completed its acquisition of Faberge this week. Emerald production...
fluor Fluor Completes Jwaneng... diamonds Diamond Explorers Update... IDCMR Martin Rapaport Presentation...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2017 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.