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Large Diamonds Recovered from Trial Mining at Baoulé Kimberlite, Guinea
Stellar Diamonds plc, the London listed (LSE:STEL) diamond development company focused on West Africa, announces results from the trial mining production of the five hectare Baoulé kimberlite pipe in Guinea.
Highlights:
· 196 carats recovered to date from kimberlite ore at an average grade of 17cpht (+1.25mm cut-off) exceeding minimum grade expectation of 13cpht
· Gems of 5.5 (octahedron), 5.1 (octahedron), 3.0, 1.9, 1.5, 1.3 and 1.2 carats recovered
· Over 50% of diamonds recovered classified as gem quality
· Trial mining is expected to generate cash flow from first diamond sale targeted before YE 2014
· Mine plant functioning well, with steady increase in tonnes of ore processed
Stellar Diamonds Chief Executive Karl Smithson commented:
“Processing of the first kimberlite ore from trial mining at the Baoulé pipe is delivering excellent results. Not only is the grade exceeding our minimum expectations but the recovery of three five carat diamonds, two of which are of excellent gem quality and shape, from a 196 carat diamond parcel is outstanding news. We believe that this suggests that Baoulé has a large stone size distribution which would be consistent with our expectations, knowing that the Aredor area of Guinea has produced some spectacular stones over many years. The processing plant, which was commissioned in September, is working well and we will now increase volume throughput over the coming weeks. It is our intention to make a diamond export in November and thus begin our cycle of exports and sales for the duration of the trial mining period.”
Trial Mining:
Following on from successful plant commissioning in September 2014, the processing of the first kimberlite sample from Baoulé has been completed as part of the scale up to trial mining. A carefully measured kimberlite sample was collected from a trench with dimensions of 24m x 16m x 3m. A number of representative samples of this kimberlite were selected for specific gravity and moisture content measurements. On this basis, the calculated wet and dry tonnages of this sample were 1,802t and 1,164t respectively. Processing of this kimberlite has been completed, with current throughput of approximately 50 wet tonnes per hour being achieved.
Diamond Results:
A total of 195.57 carats were recovered at a +1.25mm cut off, giving a grade of 16.8cpht. This compares favourably with the historically reported +1mm grade of 13.2cpht. Including the 33.2 carats recovered from commissioning of the plant with lower grade material, a total of 228.77 carats have been recovered to date.
Encouragingly a number of larger diamonds were recovered from this relatively small sample, including two octahedral gem diamonds weighing over five carats each. A third five carat diamond was also recovered, though this is of lower quality. The Directors believe the presence of these five carat diamonds, plus a number of other diamonds greater than one carat in size, could suggest that the Baoulé Pipe has a large stone size distribution. Gem diamonds represent approximately 57% of the diamond population recovered, with 43% being classified as industrial or near gem.
