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Stornoway Submits Renard Tech Report

Feb 8, 2011 11:11 AM   By Denise Romano
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RAPAPORT... Stornoway Diamond Corporation filed its Renard project  report — National Instrument 43-101 — which included revised mineral resource estimates that were already reported by Rapaport News.

The most recent mineral resource estimate for Renard included indicated resource of 23.8 million carats, and a inferred resource of 17.5 million carats. Additional resource upside was identified in the form of a potential mineral deposit of between 23.5 million to 48.5 million carats.

Renard has been a joint venture between Stornoway and DIAQUEM, a subsidiary of the government's holding company Société générale de financement du Québec. It is expected though that Stornoway will acquire DIAQUEM's share through a transaction that would make DIAQUEM a significant shareholder of Stornoway. This deal is the subject of a shareholder vote  on February 10, 2011, and if approved gives Stornoway full ownership of Renard.
Tags: Denise Romano, Stornoway Diamonds
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