The company has converted a total of 2.3 million carats of near-surface Renard 65 inferred mineral resources to indicated mineral resources, representing kimberlite amenable to open-pit mining to 150m depth. The increase follows successful conclusion of the Renard 65 bulk sample earlier in 2013.
Stornoway president and CEO Matt Manson said that the company is pleased to confirm the conversion of a large part of the Renard 65 kimberlite to the Indicated Resource category that was a part of company’s Renard mine plan.
"This open pit ore will allow us to utilize the designed expansion capacity of our plant from 6,000 to 7,000 tonnes per day, and is expected to provide for an extended reserve tail for the project," added Manson.
"At the same time, we have been able to convert into new Inferred Resources the large quantity of diamonds contained within the brecciated country rock that is entrained within and around the Renard 2 kimberlite."
Stornoway Diamond has also reported total inferred mineral resource of 16.9 million carats, a 3.5% drop from the previous estimate.
The diamond miner has attribute the drop to increase in estimates of inferred mineral resources at Renard 2, 4 and 9 that partially compensated the conversion of material from the inferred to the indicated category at Renard 65.
An additional 25.7 to 47.8 million carats (54.6 to 74.9 million tonnes) have been designated a "Target for Further Exploration" to 775 m depth, below which each kimberlite remains open.
"The updated Mineral Resource estimate has re-confirmed the very large upside of 25.7 to 47.8 million carats outside the formal Indicated and Inferred categories at Renard. Taken together, Renard represents one of the world’s most important new sources of high value diamonds," concluded Manson.
