Stellar Diamonds Returns More High Grades at Tongo Project

Stellar Diamonds plc (LSE:STEL) announced that the bulk sampling program taking place at its Sierra Leone-based Tongo dyke kimberlite project has returned further high diamond grades.

Highlights include:

  • Initial sample processing yielded 151 carats from 141t of kimberlite for a grade of 107cpht with further results expected approximately every four weeks
  • Anticipated that diamond grade will increase as further diamonds are recovered following re-processing
  • Outstanding quality of diamonds classified as 86% gem quality with several stones greater than 1 carat in size
  • Bulk sampling on-going with 772 tonnes collected to date as part of the Dyke-1 mining DFS
  • Objective to recover a minimum 1,000 carat parcel for diamond grade and value confirmation
  • Previous results established a grade of 120cpht at US$248 per carat from a 1,050 carat parcel
  • Definitive Feasibility Study (“DFS”) expected to be completed in 2014, culminating in a production decision at Tongo Dyke-1

Click here to read the full Stellar Diamonds plc (LSE:STEL) press release.