Stock Symbol: DIAM: TSX
SASKATOON, June 18, 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 completed 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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The Trench Cutter Sampling Rig drilled hole FALCCT001 to
total depth of 228.4 metres, and intercepted a total of 117.4
metres of kimberlite. This hole produced 704 bulk bags of
kimberlite over 15 sample intervals. The Trench Cutter Sampling Rig
consists of a Bauer BC 50 Cutter mounted on a Bauer MC 128
Duty-cycle Crane. The redesigned Kimberlite Separation Unit
("KSU") and accompanying desanding unit have also been fully
commissioned. Kimberlite collected will be stored in a secure
storage area, until the on-site Bulk Sample Plant ("BSP") has been
assembled and commissioned. Final diamond recovery will then
be conducted by RTEC at a secure off-site facility.
Senior Vice President Exploration and Development, George Read, states: "The completion of the
first Trench Cutter hole of this 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