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Canada Site Shows High-Value Potential
Mar 4, 2019 11:08 AM
By Rapaport News
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RAPAPORT... Star Diamond Corporation has noted a large quantity of high-value
and large rough stones at its two exploration sites in Canada, sending its
stock price shooting upward.
Nearly 27% of diamonds at its Star project are type IIa, a
category that represents less than 2% of all rough diamonds mined from
kimberlites, the company reported Monday. The proportion of that category at its Orion
South kimberlite is 13%, it said following a major study of goods it had
recovered from the locations.
The company identified a 49.09-carat diamond from Star, and
a 32.35-carat stone from Orion South. It also recovered two diamonds that were
smaller but more valuable: An 11.96-carat stone from Star worth $11,333 per
carat, and a 15.88-carat diamond from Orion South that it valued at $2,800
per carat.
“The presence of two high-value diamond groups (octahedra
and type IIa) greatly strengthens the future potential-production diamond
pricing from the Star and Orion South kimberlites,” said George Read, Star
Diamond’s senior vice president of exploration and development.
The company’s share price rose 9% in early trading
Monday.
Image: Rough diamonds from the Star and Orion South projects. (Star Diamond Corporation)
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Tags:
Canada, exploration, George Read, Orion South, Rapaport Magazine, Rapaport News, star, Star Diamond, Star Diamond Corporation
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