Paragon Diamonds (LON:PRG) has revealed the findings of a bulk sampling programme which confirms the potential for the Lemphane mine to contain large and valuable diamonds.
This morning the AIM quoted diamond company confirmed the formal conclusion of the programme.
In Lemphane’s ‘southern domain’ the sampling yielded grades of 4.5 carats per hundred tonnes, with an average of 2.2 carats per hundred tonnes. This area makes up around 65% of the kimberlite pipe at surface.
A total of 288.73 carats were recovered overall in the programme, and the largest stone measured 8.86 carats.
It has been recommended, by consultant MSA Group, that at least 1mln tonnes of trial mining is completed as part of the Lemphane development.
"The results of the bulk sampling programme have confirmed the potential for Lemphane to contain large valuable diamonds,” said chairman Martin Doyle.
“It has also demonstrated that the processing of larger volumes of kimberlite will improve proportionally the recovery of additional larger diamonds.
“These recoveries can then be used to determine representative grade and value estimations for Lemphane.
“The proposed Stage I production of 1Mt over 2 years has been designed with this objective in mind and I look forward to reporting on larger diamond recoveries going forward."
MSA also says that the work on the project to date complies with international mining standards (such as JORC, SAMREC or CIM) for reporting exploration results.