More positive diamond results for Stellar
There was more good news for West-African focused Stellar Diamonds (STEL) on Monday as it revealed potential from its latest bulk sampling.
The AIM-listed company said that initial diamond grade results from the Lion-5 kimberlite dyke at its Kono diamond licence in eastern Sierra Leone were positive.
“These results indicate that the Lion-5 kimberlite has significant exploration potential. The dyke forms part of an extensive swarm of kimberlite dykes that run from the Stellar licence areas into the adjacent mine lease held by Koidu Holdings, which is embarking on a US$150million mine expansion programme,” said chief executive Karl Smithson.
"The kimberlite grade of 70cpht is consistent with our previous trial mining results from the Pol-K and Bardu kimberlites at Kono, where we previously recovered 4,200 carats of good quality diamond from our established 50 tonne per hour DMS plant.
He added: “It is clear that the Kono permits hold significant value for Stellar and we intend to continue the exploration and evaluation work to develop this potential."
Are you looking for more on the diamond market? Watch what John Meyer, metals and mining analyst at Fairfax, has to say in: What are the prospects for the diamond market?
