Additional Information
Market: AIM
Sector: General Mining - Diamonds & Gemstones
EPIC: STEL
Latest Price: 2.88p  (0,00%)
52-week High: 8.00p
52-week Low: 2.50p
Market Cap: 8.17M
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Stellar Diamonds plc is a London listed (AIM:STEL) diamond exploration and development company that is focused on the West African countries of Sierra Leone and Guinea.  Stellar has an advanced portfolio of high grade kimberlites that are currently subject to resource definition thorugh drilling, bulk sampling and trial mining.  Initial resource statements are expected in early 2011 from Tongo and Droujba.  In addition, Stellar has also mined and sold over 125,000 carats of diamonds from two alluvial operations in Guinea. 

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Stellar Diamonds describes latest Tongo drilling results as "excellent"

19th Jan 2012, 7:24 am Initial resource drilling of a 1.9 kilometre section of the 2.5 kilometre long Dyke 1 kimberlite was completed in December.

Stellar Diamonds (LON:STEL) chief executive Karl Smithson this morning described as “excellent” the results from bulk sampling on Dyke 1 of the Tongo kimberlite project in Sierra Leone.

The group also confirmed it is on track for a maiden resource statement by the end of this quarter.

The bulk sample grade was 121 carats per hundred tonnes with an average diamond value of US$185 per carat, while microdiamond analysis indicates “encouraging size distribution”.

Initial resource drilling of a 1.9 kilometre section of the 2.5 kilometre long Dyke 1 kimberlite was completed in December. 

The remainder will be drilled during the next phase of resource definition.  

Some 32 holes for 4,048 metres were drilled and kimberlite was intersected in 27 of the holes.

The deepest intersection of kimberlite was recorded at 202 metre vertical depth from surface and the kimberlite remains open at depth and along strike, the company said. 

Chief executive Smithson added: "The drilling and bulk sampling of the high-grade 2.5km long Dyke 1 kimberlite has now been completed and has generated excellent results. 

“With a diamond grade of 121 carats per hundred tons and diamond value of $185 per carat, the calculated in-situ value of the kimberlite is $224 per tonne.” 

Independent consultants CAE Mining will compile the maiden Tongo resource statement for Dyke 1. 

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