QUEBEC – The revised 43-101 resource estimate for the Renard diamond project in the north central part of the province has numbers for contained carats in the inferred category that are 31% higher than the previous estimate. The project is a 50:50 joint venture of Vancouver’s Stornoway Diamond Corp., and Diaquem, a subsidiary of the Quebec government’s mineral exploration arm, Soquem Inc.
The new estimates follows the completion of two deep drilling campaigns during 2010. The work successfully showed that three pipes (Renard 3, 4 and 65) were larger at depth than previously assumed, providing the increase to the inferred category.
The total indicted mineral resource at Renard is 23.8 million ct, up 3%, from the December 2009 estimate. The inferred resource contains 17.5 million ct, up 31%. The property also contains a “potential mineral deposit” of between 23.5 million and 48.5 million ct.
To read the complete news release dated Jan. 24, 2011, please go to www.StornowayDiamonds.com.