SASKATCHEWAN - The latest valuation of diamond parcels from the Star and Orion South kimberlites in the fort a la Corne region are nothing if not pleasing for project operator Shore Gold of Saskatoon. The highest value stone recovered thus far weighed 11.96 ct. It was recovered from a large diameter drill hole in the Early Joli Fou (EJF) unit of the Star kimberlite. It has an E colour and a value of US$15,000 per ct or US$179,325 for the stone.
Nor was it the only notable diamond recovered. The EJF also yielded a 10.53-ct stone with a value of US$6,000 per ct or US$63,150 and a 4.26-ct stone with a value of US$3,900 per ct or $16,000.
The valuation of all parcels from the two kimberlites rose considerably (28% to 130%) from the estimates made in March 2008. Modeled prices ranged between US$129 and US$355 per ct for the diamond populations of the major kimberlite units making up the Star and Orion South kimberlites.
Shore Gold is the sole owner of the Star kimberlite and 63% owner of the FALC joint venture that includes the Orion South kimberlite with Newmont Mining. The 2009 pre-feasibility study was positive, suggesting that 20 million ct could be produced over a 12-year mine life.
The next step is the final feasibility study. It will be posted at www.ShoreGold.com when it becomes available in the next few months.