Stock Symbol: DIAM:
TSX
SASKATOON, June 3, 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 ("RTEC") have recommenced the drilling of
the first bulk sample hole on the Corporation's Star Kimberlite
using the Trench Cutter Sampling Rig. The Star Kimberlite is
located within the Corporation's Star - Orion South Diamond
Project, in the Fort à la Corne diamond district of central
Saskatchewan, Canada, on mineral
dispositions held 100 percent by Star
Diamond. RTEC refers to Star
Diamond's mineral dispositions in the Fort à la Corne
diamond district as Project FalCon.
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Cutter rigs by Bauer Maschinen GmbH ("Bauer") 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 sample kimberlite at depths of
up 250 meters. The Trench Cutter Sampling Rig consists of a Bauer
BC 50 Cutter mounted on a Bauer MC 128 Duty-cycle Crane. The Trench
Cutter Sampling Rig is designed to sample large volumes of
kimberlite by excavating a rectangular hole of 3.2 by 1.5 metres.
Each ten metres of advance down hole, within the kimberlite, will
yield some 100 tonnes of sample. The Trench Cutter Sampling Rig's
cutter head has been designed to excavate kimberlite fragments up
to 80 millimetres in diameter, which are then pumped in a slurry to
surface.
The Trench Cutter Sampling Rig was successfully initiated in
October 2018, prior to winter
shutdown, with the first hole reaching a depth of 37.1 metres below
surface. The Trench Cutter Sampling Rig successfully excavated the
sand and till overburden and returned a substantial proportion of
large (up to 80 millimetre) fragments from the till. The
encouraging performance of the Trench Cutter Sampling Rig was
unfortunately constrained by the commissioning of the first
desanding plant, which did not operate at design capacity. A
redesigned Kimberlite Separation Unit ("KSU") has been manufactured
and delivered to site. This KSU is designed to recover kimberlite
fragments between 80 and 0.85 millimetres from the Trench Cutter
Sampling Rig slurry. Washed kimberlite material will then be
collected in cubic metre bulk bags for delivery to an on-site Bulk
Sample Plant ("BSP"). Assembly of the BSP is currently underway.
The Trench Cutter Sampling Rig and associated KSU have been
designed by RTEC to minimize diamond breakage during sample
excavation, washing and bagging. Well washed kimberlite material
will help ensure optimal performance of RTEC's on-site BSP. Final
diamond recovery is to be conducted by RTEC at a secure off-site
facility.
Senior Vice President Exploration and Development, George Read, states: "The Trench Cutter Sampling
Rig bulk sample program is an important milestone in the evaluation
of the Star Kimberlite by RTEC. The successful use of this new
Trench Cutter Sampling Rig technology for the recovery of
kimberlite bulk samples has the ability to revolutionize future
bulk sampling and mining of kimberlites, particularly for
kimberlites characteristic of the Fort à la Corne diamond district
of central Saskatchewan,
Canada."
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