Stock Symbol: DIAM: TSX
SASKATOON, Aug. 7, 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
five of the ten proposed bulk sample holes (trenches) 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.
The drilling and sampling statistics for each of these five
trenches on the Star kimberlite are listed in the table below:
Trench #
|
Days per
Trench
|
Average Production
(m/day)
|
Total Depth
(m)
|
Samples
Collected
|
Bags
Collected1
|
19FALCT001
|
16
|
14.3
|
228.4
|
15
|
703
|
19FALCT004
|
14
|
16.7
|
233.8
|
15
|
771
|
19FALCT003
|
13
|
19.2
|
249.3
|
15
|
873
|
19FALCT007
|
10
|
22.5
|
225.1
|
14
|
613
|
19FALCT006
|
10
|
24.1
|
241.5
|
15
|
704
|
1.
|
Note Kimberlite
Sample Weights are not available as these have not yet been
acquired by RTEC
|
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. The depth of each trench is determined by
kimberlite thickness. Trench 19FALCT003 confirms that the Trench
Sampling Rig can reach its designed sampling depth of 250 metres
below surface.
Senior Vice President Exploration and Development, George Read, states: "These drilling and
sampling statistics confirm that the Trench Cutter bulk sampling
program on the Star Kimberlite has made good progress and shows
that the completion of all ten trenches is achievable within the
2019 sampling season. The rate of sampling with the Trench Cutter
rig also appears to have continued to improve throughout the
drilling of these first five trenches. The aim of RTEC's bulk
sampling program is to recover samples of the highest quality, to
help ensure that diamond breakage is minimized. The successful use
of this new Trench Cutter Sampling Rig technology for the recovery
of kimberlite bulk samples also 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