Stock Symbol: DIAM: TSX
SASKATOON, May 8, 2019 /CNW/ - George H. Read, P. Geo., Senior Vice President
Exploration and Development of Star Diamond Corporation ("Star
Diamond" or the "Corporation") is pleased to announce that Rio
Tinto Exploration Canada Inc ("RTEC") have initiated field
activities and programs on several fronts in the Fort à la Corne
diamond district of central Saskatchewan,
Canada, on mineral dispositions held 100 percent by
Star Diamond, in preparation for
RTEC's bulk sample drilling program on the Star - Orion South
Diamond Project. RTEC refers to Star
Diamond's mineral dispositions in the Fort à la Corne
diamond district as Project FalCon.
![Star Diamond Corporation (CNW Group/Star Diamond Corporation) Star Diamond Corporation (CNW Group/Star Diamond Corporation)](https://mma.prnewswire.com/media/883821/Star_Diamond_Corporation_Star___Orion_South_Diamond_Project_Tech.jpg)
The Cutter Soil Mixing ("CSM") program recently recommenced on
the Corporation's Star Kimberlite, to complete the five remaining
panels (see News Release dated October 1,
2018). The CSM program is intended to stabilize the
unconsolidated sand overburden for each of the planned ten bulk
sample holes on the Star Kimberlite. Following the CSM
stabilization program, RTEC aim to use a Bauer BC 50 Cutter mounted
on a Bauer MC 128 Duty-cycle Crane ("Trench Cutter Sampling Rig ")
to drill and sample to depths of up to 250 metres below surface.
Each ten metres of advance down hole aims to excavate some 100
tonnes of kimberlite. Bauer cutter rigs are used around the world
for complex engineering projects. Bauer has indicated that this
will be the first time in the world that this technology will be
used in an active project to reach a depth of 250 meters.
Other recent site activities by RTEC include the expansion of
the on-site person camp to accommodate up to 150 persons (formerly
90 persons); the completion of the 29.3 by 33.5 metre insulated and
heated sample storage building adjacent to the site where the
foundations have been cast for the bulk sampling processing plant.
The components for the processing plant are on site and plant
assembly will commence now that the foundations have been
completed. The bulk sample plant has been fabricated by Consulmet
in South Africa in modular,
containerized units. The bulk sample plant will use a modern
flowsheet and the latest X-ray transmission ("XRT") sorting
technology to ensure any large diamonds present (up to 25
millimetres) are recovered with minimal breakage.
Senior Vice President Exploration and Development, George Read, states: "Star Diamond Corporation
is encouraged by the level of activity on site and the pace at
which tasks are being completed in preparation for the bulk sample
drilling program on the Corporation's Star Kimberlite."
Star Diamond Corporation is a Canadian based corporation engaged
in the acquisition, exploration and development of mineral
properties. Shares of the Corporation trade on the TSX
Exchange under the trading symbol "DIAM". The Corporation's
Fort à la Corne kimberlites (including the Star - Orion South
Diamond Project, or "Project") are located in central Saskatchewan in close proximity to established
infrastructure, including paved highways and the electrical power
grid, which provide significant advantages for future mine
development.
All technical information in this press release has
been prepared under the supervision of George Read,
Senior Vice-President of Exploration and
Development, a registered
Professional Geoscientist in
the Provinces of Saskatchewan and
British Columbia and Mark Shimell,
Project Manager, a registered
Professional Geoscientist in the Province of
Saskatchewan, who
are the Corporation's "Qualified
Persons" under the definition
of NI 43-101.
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined
by certain securities laws, including the "safe harbour" provisions
of Canadian securities legislation and the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
information is often, but not always, identified by the use of
words such as "anticipate", "believe", "expect", "plan", "intend",
"forecast", "target", "project", "guidance", "may", "will",
"should", "could", "estimate", "predict" or similar words
suggesting future outcomes or language suggesting an outlook. In
particular, statements regarding the Corporation's future
operations, future exploration and development activities or other
development plans constitute forward-looking statements. By their
nature, statements referring to mineral reserves, mineral
resources, PEA or TFFE constitute forward-looking statements.
Forward-looking statements contained or implied in this press
release include, but are not limited to, RTEC's and the
Corporation's objectives for the ensuing year, including the
proposed bulk sampling program.
These forward-looking statements are based on the Corporation's
current beliefs as well as assumptions made by and information
currently available to it and involve inherent risks and
uncertainties, both general and specific.
Risks exist that forward-looking statements will not be achieved
due to a number of factors including, but not limited to,
developments in world diamond markets, changes in diamond prices,
risks relating to fluctuations in the Canadian dollar and other
currencies relative to the US dollar, changes in exploration,
development or mining plans due to exploration results and changing
budget priorities of the Corporation or its partners, the effects
of competition in the markets in which the Corporation operates,
the impact of changes in the laws and regulations regulating mining
exploration, development, closure, judicial or regulatory judgments
and legal proceedings, operational and infrastructure risks and the
additional risks described in the Corporation's most recently filed
Annual Information Form, annual and interim MD&A. The
Corporation's anticipation of and success in managing the foregoing
risks could cause actual results to differ materially from what is
anticipated in such forward-looking statements.
Although management considers the assumptions contained in
forward-looking statements to be reasonable based on information
currently available to it, those assumptions may prove to be
incorrect. When making decisions with respect to the Corporation,
investors and others should not place undue reliance on these
statements and should carefully consider the foregoing factors and
other uncertainties and potential events. Unless required by
applicable securities law, the Corporation does not undertake to
update any forward-looking statement that is made herein.
SOURCE Star Diamond Corporation