QUEBEC – Stornoway Diamond Corp. of Montreal is preparing to take a 5,000-tonne bulk sample at the R65 kimberlite pipe, at the Renard diamond development project in north-central Quebec. The company hopes to convert its inferred resource into an indicated one, and perhaps into a reserve figure.
The R65 pipe contains an inferred resource of 3.7 million ct (representing 12.9 million tonnes at an average grade of 29 cpht) to a depth of 290 metres, with an exploration potential estimated at between 6.8 and 13.7 million ct (29.5 to 41.6 million tonnes at between 23 and 33 cpht) from 290 to 775 metres deep.
Resources in the R65 pipe are not included in the November 2011 43-101 technical report for Renard, but the cost of removing material from R65 was included as barrow material.
“The upgrading of Renard 65's resource classification this year is expected to add value to the project by allowing an immediate expansion of planned processing capacity from 6,000 to 7,000 tonnes per day, and by extending the reserve mine life beyond the current 11 years,” Stornoway president and CEO Matt Manson said in a news release. “Renard has a considerable resource upside potential, and this sampling program will allow us to pursue the project's continued growth as we work towards final project financing.”
The sampling program has a budget of $2.5 million and will be completed by the end of this year.
Read the full story of what will be Quebec’s first diamond mine at StornowayDiamonds.com.
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