Stellar Diamonds PLC Bulk Sampling of Droujba Kimberlite in Guinea (1526N)
September 26 2012 - 2:01AM
UK Regulatory
TIDMSTEL
RNS Number : 1526N
Stellar Diamonds PLC
26 September 2012
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
26 September 2012
AIM: STEL
Stellar Diamonds plc
("Stellar" or the "Company")
Large Diamonds and High Grades from Bulk Sampling of Droujba
Kimberlite in Guinea
Stellar Diamonds plc, the London listed (AIM: STEL) diamond
development company focused on West Africa, provides the results of
the Phase-2 bulk sampling programme at the Company's Droujba
kimberlite pipe in Guinea.
Highlights:
-- 1,482 dry tonnes of kimberlite processed from 6 separate bulk sample pits
-- 1,477 carats recovered for an average diluted grade of 100cpht (+1mm)
-- Two large diamonds estimated at 67 and 49 carats were broken during processing
-- 4 diamonds greater than 10.8 carats and 43 diamonds greater than 2 carats recovered
-- Droujba's 2.5 million carat inferred resource model being updated
Chief Executive Karl Smithson commented:
"The second phase of bulk sampling at Droujba has returned
excellent results with a diamond grade of just under 100cpht,
exceeding the 71cpht recovered from the first phase bulk sampling.
The presence of two large boart diamonds of 67 and 49 carats, which
were broken during processing, indicates that Droujba has the
potential to yield large stones. Coupled with the high grades
recently announced from the adjacent Katcha kimberlite dyke, these
results from Droujba demonstrate the potential for the project to
host a larger diamond resource than the currently JORC inferred
resource of 2.5 million carats.
"All of the recent data is being independently reviewed and an
updated resource statement is on track to be delivered ahead of
schedule during the fourth quarter of 2012. I look forward to
providing further updates as we progress."
Bulk Sampling and Results
As previously reported, the second phase bulk sampling of the
Droujba pipe had the objective of increasing the existing 506 carat
diamond parcel to 2,000 carats. To achieve this, six samples were
excavated from the base of the Droujba pit and processed via the
on-site 5 tonne per hour Dense Media Separation plant under the
observation of a Government Mines Monitor.
The second phase samples were designated DBS-5 to DBS-10 and for
each sample the volume of the trench excavation was accurately
measured and the specific gravity and moisture content carefully
determined in order that the dry tonnage could be calculated.
Furthermore, detailed mapping of all trench side walls enabled the
country rock content (dilution) to be calculated.
These six samples weighed a total of 1,482 dry tonnes and
yielded 1,477 carats in the +1mm size fraction, for a diluted grade
of just under 100 carats per hundred tonnes ("cpht"). This grade is
higher than the grade derived from the Phase-1 bulk sampling of
71cpht, potentially due to a combination of more efficient
processing and less sample dilution. The average of both the
Phase-1 and 2 bulk sampling is 88.68cpht, whereby a total of 2,147
carats have been yielded from processing 2,421 dry tonnes of
Droujba kimberlite. The full results are presented in the Table
below. The tonnes and grades for the Phase-1 sampling differ
slightly from those reported on the 25(th) June 2012 due to some
minor changes to the tonnage calculations.
Sample Number Dry Tonnes Carats Recovered +1mm dry Largest Stone
processed grade (cpht) (carats)
======================== =========== ================= ============== ================
DBS-1-4 (Ph-1 average) 938.68 669.55 71.33 13.80
======================== =========== ================= ============== ================
DBS-5 244.60 171.20 69.99 7.60
------------------------ ----------- ----------------- -------------- ----------------
DBS-6 239.14 232.70 97.31 9.55
------------------------ ----------- ----------------- -------------- ----------------
DBS-7 257.36 270.30 105.03 49.20 estimated
------------------------ ----------- ----------------- -------------- ----------------
DBS-8 269.96 264.70 98.05 11.15
------------------------ ----------- ----------------- -------------- ----------------
DBS-9 288.33 238.65 82.77 3.45
------------------------ ----------- ----------------- -------------- ----------------
DBS-10 183.02 299.85 163.83 67.0 estimated
======================== =========== ================= ============== ================
DBS5-10 (Ph-2 average) 1,482.41 1,477.40 99.66 67.0 estimated
======================== =========== ================= ============== ================
Average Ph-1 and
Ph-2 2,421.06 2,146.95 88.68 67.0 estimated
======================== =========== ================= ============== ================
A total of 122 diamonds greater than 1 carat in size was
recovered from the Phase-2 bulk sampling, of which 43 were greater
than 2 carats and four in excess of 10.80 carats. The two largest
stones are estimated to be 49.20 carats and 67.0 carats in size on
the basis of reassembling broken pieces of diamond that were too
large to fit through the top screen size on the bulk sampling
plant. Although these stones were boart in quality their presence
indicates that Droujba has a large stone size frequency. Other
large stones recovered were 11.15ct (rejection), 9.55ct
(rejection), 6.90ct (gem), 5.5ct (near gem). The parcels of Droujba
and Katcha diamonds will be exported to Antwerp for valuation in
the near future.
Resource Statement
The current 2.5 million carat inferred resource statement for
Droujba is in the process of independent revision to incorporate
these results and those recently reported for the adjacent Katcha
kimberlite dyke. An updated independent resource statement is
scheduled to be delivered during the fourth quarter of 2012.
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
END
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