Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Stellar Diamonds says resource estimate expected as Tongo continues to return 'excellent' grades

Stellar Diamonds’ bulk sampling of the Tongo kimberlite project in Sierra Leone continues to return excellent results, which it expects will lead to a resource upgrade.
Stellar Diamonds says resource estimate expected as Tongo continues to return 'excellent' grades

Stellar Diamonds’ (LON:STEL) bulk sampling of the Tongo kimberlite project in Sierra Leone continues to return excellent results, which it expects will lead to a resource upgrade.

In this latest update, the AIM listed group said 1,182 carats had been recovered, taking the average grade to a better than anticipated 178.7 carats per hundred tonnes (cpht).

This is 49% higher than the 120 cpht applied in the resource estimate and represents a decent advance on the 155 cpht logged in July.

Stellar said 53 diamonds were larger than one carat, including stones of 6.7 and 4.6 carats as it revealed they were of “excellent shape, colour and clarity”.

Chief executive Karl Smithson said: "Tongo continues to generate excellent results further underpinning the economic potential of this kimberlite diamond project.

“We have achieved our objective of collecting a further 1,000 carat parcel for the diamond grade and valuation modelling of Tongo Dyke 1, as part of the ongoing feasibility work.

“It is highly encouraging to note the substantial increase in grade to 179cpht which has resulted from reprocessing the tailing material.”

View full STEL profile View Profile

Stellar Diamonds PLC Timeline

Related Articles

Richland
April 03 2018
The strategic review aims to assess how the company can best leverage its position as the owner of one of the world's largest sapphire mines.
picture of diamonds
November 06 2017
Kareevlei is comfortably among the world’s top ten kimberlite mines on a dollar per carat basis

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use