Stock Symbol: DIAM: TSX
SASKATOON, May 23, 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 completed the ten Cutter Soil Mixing ("CSM") panels at the
proposed trench cutter bulk sample positions on the Star
Kimberlite. As a result, the CSM rig and associated concrete plant
have been demobilized from site. In preparation for the trench
cutter bulk sampling program, the Kimberlite Separation Unit
("KSU") has been delivered to site and is currently being assembled
and commissioned. The KSU is designed to recover all kimberlite
fragments between 80 and 0.85 millimetres, from the slurry
excavated by the trench cutter rig. This washed kimberlite material
will be collected in cubic metre bulk bags for delivery to Bulk
Sample Plant ("BSP"). Impact Mechanical Services Ltd. of
Prince Albert, Saskatchewan has
been awarded the contract to assemble the BSP, which was fabricated
by Consulmet in South Africa in
modular, containerized units. Unpacking and assembly of the BSP is
currently underway. All of these activities are taking place 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/892002/Star_Diamond_Corporation_Star___Orion_South_Diamond_Project_Upda.jpg)
Senior Vice President Exploration and Development, George Read, states: "RTEC is in the process of
assembling all the components required for the proposed trench
cutter bulk sampling program on the Star Kimberlite. Once assembly
and commissioning of the equipment has been completed, trench
cutter drilling and bulk sample collection can commence. The trench
cutter rig, KSU and BSP have all been designed to minimize diamond
breakage, due to the known coarse diamond size frequency
distributions of the Star and Orion South kimberlites. 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