Stellar Diamonds PLC Katcha Dyke Final Bulk Sampling Results (4401M)
September 18 2012 - 2:00AM
UK Regulatory
TIDMSTEL
RNS Number : 4401M
Stellar Diamonds PLC
18 September 2012
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
18 September 2012
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
High Diamond Grade and Large Diamonds from Bulk Sampling of the
Katcha Dyke in Guinea
Stellar Diamonds plc, the London listed (AIM: STEL) diamond
development company focused on West Africa, is pleased to announce
final bulk sampling results from the Katcha Dyke at the Company's
Droujba kimberlite project in Guinea.
Highlights:
-- 482 carats recovered from 299 tonnes of kimberlite for grade of 161cpht (+1mm)
-- Diamonds recovered of 15.8ct, 10.45ct, 5.5ct and 4.85ct, with 44 stones greater than 1ct
-- Two kimberlite samples weighing a total of 296kg submitted for microdiamond analysis
-- Resource to be calculated on initial 500m section of 5km long Katcha Dyke
-- Katcha is adjacent to the Droujba Pipe which has a JORC Compliant resource of 2,474,000cts
Chief Executive Karl Smithson commented:
"The high grades from bulk sampling at the Katcha Dyke
demonstrate its potential to enlarge the Droujba project resource
base. The presence of several large near gem quality diamonds up to
15.8 carats in size from this relatively small diamond parcel is
further cause for encouragement.
"Bulk sampling is on-going at the Droujba Pipe in order to
obtain a 2,000 carat parcel for valuation. We remain on track to
complete this programme this month in order that an independent
resource statement can be prepared which will include the 500m
drilled section of the Katcha Dyke.
"Considerable progress has been made in recent months on our
priority Tongo and Droujba kimberlite projects and we look forward
to updating shareholders as we progress."
Katcha Bulk Sampling and Results
As announced on the 6(th) August 2012, a series of bulk samples
were collected from a 100m strike length of the Katcha Dyke located
some 600m to the northwest of the Droujba Pipe. All these samples
have now been processed and the results collated (see table
below).
A total of five samples comprising 299.14 tonnes of in-situ
kimberlite material have been collected and processed by the
Company's on-site 5 tonne per hour DMS plant with diamond recovery
being by X-Ray Flowsort under observation from the Government mines
observer. These samples were collected from the same section of the
Katcha Dyke at approximately 20m intervals over a total distance of
100m. The kimberlite dyke varied in average width from 41cm to
141cm over the five 20m sections that were sampled. Each sample was
carefully measured and its density and moisture content calculated
so that the in-situ kimberlite tonnage could be accurately
determined.
The processing yielded a total of 482.45 carats from the 299.14
tonnes of kimberlite to give an in-situ kimberlite grade of
161.28cpht (+1mm) for the composite five samples. Some 44 stones of
greater than one carat were recovered, with 14 of these weighing in
excess of two carats. The largest stones weigh 15.8ct (near gem),
10.45ct (rejection), 5.5ct (gem), 4.85ct (rejection). The diamonds
will be exported to Antwerp in the near future for valuation.
Sample Dry Tonnes Carats Recovered +1mm dry grade
processed (cpht)
--------------------------- ----------- ----------------- ---------------
Katcha Bulk Sample KBS-1A 21.22 47.50 223.84
--------------------------- ----------- ----------------- ---------------
Katcha Bulk Sample KBS-1B 29.41 53.25 181.06
--------------------------- ----------- ----------------- ---------------
Katcha Bulk Sample KBS-1C 41.36 72.15 174.44
--------------------------- ----------- ----------------- ---------------
Katcha Bulk Sample KBS-1D 86.66 118.65 136.91
--------------------------- ----------- ----------------- ---------------
Katcha Bulk Sample KBS-1E 120.49 190.90 158.44
--------------------------- ----------- ----------------- ---------------
Totals and average grade 299.14 482.45 161.28
--------------------------- ----------- ----------------- ---------------
Microdiamond Sampling
Processing of two sets of microdiamond samples is ongoing at the
Saskatchewan Research Council laboratory in Canada, with results
expected in the near future. These samples comprise 250kg (wet
weight) of kimberlite collected from the surface trench of the bulk
sampling and 46kg (wet weight) of kimberlite core collected from
the seven drill holes that intersected the Katcha Dyke.
Updated Resource Statement
CAE Mining Africa has been retained to provide an updated
resource statement for the Droujba project taking into
consideration the additional bulk sampling information for both the
Droujba Pipe and Katcha Dyke, and in terms of Katcha the drilling
information and the microdiamond analysis.
As announced on the 2(nd) April 2012, the Droujba project
currently has a JORC compliant inferred resource of 2.474 million
carats for the Droujba Pipe only to a depth of 360m, with a modeled
resource grade of 70cpht and average modeled diamond value of $60
per carat.
In accordance with the AIM Rules for Companies, the information
in this announcement has been reviewed by Karl Smithson, Chief
Executive of Stellar, a qualified geologist and Fellow of the
Institute of Materials, Metals, Mining, with 23 years'
experience.
About Stellar Diamonds plc
Stellar is a London (AIM: STEL) listed West African focussed
diamond mining and exploration company which is advancing the
Droujba kimberlite pipe in Guinea and the Tongo kimberlite dyke
project in Sierra Leone, which combined have a JORC Compliant,
inferred diamond resource of 3.1 million carats. The Company
recently announced a dispute with the Ministry of Mines in Sierra
Leone over its two Kono licences.
For further information please contact the following or visit
the Company's website at www.stellar-diamonds.com.
Stellar Diamonds plc
Karl Smithson, Chief Executive Tel: +44 (0) 20 7257 2930
Northland Capital Partners Limited
(Nominated Advisor and Broker)
Gavin Burnell, Edward Hutton Tel: +44 (0) 20 7796 8800
Daniel Stewart & Company plc
(Co-Broker)
Martin Lampshire, Antony Legge Tel: +44 (0) 20 7776 6550
Pelham Bell Pottinger
James MacFarlane, Joanna Boon Tel: +44 (0) 20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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