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Stornoway Says Nanuvut Diamond Project May Hold 10M Carat Resource

Jun 10, 2008 5:40 AM   By Avi Krawitz
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RAPAPORT... Stornoway Diamond Corporation said its Qilalugaq Project in Nunavut, Canada, may hold a 10 million carat diamond resource after completing minibulk sampling at the site.

“Minibulk sampling to date has established a modest grade, but it is a large, outcropping ore body, located 10 kilometers from tidewater with the potential to yield a 10 million carat plus resource,” said Eira Thomas, chief executive officer of Stornoway. “Early indications of diamond quality have also been encouraging and Stornoway is now considering a larger bulk sample to properly characterize the diamond population and provide a preliminary estimate of diamond value.”

Stornoway revised its options agreement on the project with BHP Billiton Diamonds, whereby Stornoway can earn 50 percent of the project by covering $9 million of the cost by year-end 2012.

Stornoway reported that the 1.04 million acre property contains 17 kimberlites, including the 14 hectare Q1-4 bodies, which returned 6,081 carats of diamonds in recent dense media separation processing.

The sample indicated a diamond content of 30 carats per hundred tonne (cpht) for stones retained on a 0.85mm square mesh screen, the company said.
Tags: BHP Billiton
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ialso like stornoway`s aviat property
Nov 15, 2008 12:58PM    By bob chaplin--e mail,
you will find my new website about a completely different approach to diamond prospecting , very interestihg . best viewed on google web
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