SASKATOON - Star Diamond Corporation ('Star Diamond' or the 'Corporation') today announced that a total of 2,755 diamonds weighing 178.98 carats have been recovered to date from the seventh (19FALCT005) bulk sample trench excavated on the Star Kimberlite by Rio Tinto Exploration Canada Inc. ('Rio Tinto Canada') in 2019.
'We are pleased by the recovery of two larger 16.96 and 6.35 carat D colour Type IIa diamonds from Rio Tinto Canada's seventh trench,' said Ken MacNeill, President and CEO of Star Diamond. 'Star Diamond's own underground bulk sampling and large diameter drilling programs conducted between 2004 and 2009 previously recovered diamonds as large as 49.5 and 45.9 carats from the Star and Orion South Kimberlites, respectively. We have been disappointed by Rio Tinto Canada's failure to date to recover larger diamonds, which we believe is a consequence of its unproven and inadequately tested extraction and/or diamond recovery methodologies causing undue diamond breakage. Nevertheless, the diamonds recovered from the seventh trench continue to highlight the excellent potential for the recovery of large high value diamonds from the Star Kimberlite.'
Mr. MacNeill continued, 'We are also pleased that the initial results from the first seven reported trenches continue to validate the grades outlined in our Preliminary Economic Analysis that was based upon Star Diamond's own prior underground bulk sampling and large diameter drilling programs.'
About Star Diamond Corporation
Star Diamond Corporation is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Corporation trade on the Toronto Stock Exchange under the trading symbol 'DIAM'. The Corporation's Fort a la Corne kimberlites (including the Star - Orion South Diamond Project) are located in central Saskatchewan in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. During 2018, the Corporation announced the positive results of an independent Preliminary Economic Analysis on the Project.
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