FORT À LA CORNE PROJECT - ORION NORTH DIAMOND VALUATION AND PROPORTIONS OF TYPE IIa DIAMONDS
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Highlights
- The diamondvaluation exercise has shown that the diamonds found within the EJF units of the K120 and K147/148 kimberlites have high modelled diamond prices, between
US$212 andUS$288 per carat, as shown in the table below. The two highest value stones, from K147-K148-EJF4 and K120-EJF, respectively, are 6.89 carats (US$3,519.00 per carat,US$24,246.00 ) and 7.50 carats (US$3,520.00 per carat,US$26,400.00 ). These diamond parcels are too small (carats and stones) for rigorous diamond value estimates. - The diamond typing exercise has shown the presence of high proportions of Type IIa diamonds in all three of these
Orion North kimberlites. The EJF3 and EJF4 units of K147/K148 have anomalously high proportions of Type IIa diamonds of 41% and 63%, respectively, as shown in the table below. The diamonds analysed represent a spectrum of diamond sizes from +5 DTC (+0.05 carats) to 7 carats. - A Target for Further Exploration ("TFFE") completed by
Star Diamond in 2014 (see News ReleaseMar 06, 2014 ), estimated that between 511 million and 609 million tonnes of the major EJF units, containing between 25 and 50 million carats, occur within the Orion North kimberlite cluster. This work enablesStar Diamond to state that the Orion North Kimberlite is a diamond deposit with more than 500 million tonnes of potential mineable kimberlite.
Diamond Valuation
Diamond valuations and model prices, as shown in the table below, were completed by Mr.
Kimberlite |
Number |
Number |
Parcel |
Model |
Low Model |
High Model |
K120-EJF |
3,162 |
273.93 |
202.55 |
267.77 |
200.83 |
401.66 |
K147-K148 EJF3 |
666 |
70.90 |
139.14 |
287.88 |
215.91 |
431.82 |
K147-K148-EJF4 |
940 |
81.61 |
374.45 |
211.74 |
158.80 |
317.60 |
As observed by Mr. Karun, diamonds from these kimberlite bodies exhibit good quality and colour, consisting significant collection colour (GIA: D-F) and there are high proportions of Gem and Near Gem and low proportions of Boart (Industrial). These diamond parcels include high yielding models. The proportion of diamonds in each parcel that exhibits strong fluorescence is very low (negligible)– as listed in the table below.
Kimberlite |
Gem % |
Near Gem % |
Boart % |
Strong Fluorescence % |
K120-EJF |
61.43 |
22.71 |
15.86 |
3.04 |
K147-K148 EJF3 |
73.67 |
16.28 |
10.06 |
3.30 |
K147-K148-EJF4 |
71.87 |
19.09 |
9.04 |
1.28 |
Diamond Typing
These three kimberlite units have diamond parcels with sufficient diamonds to conduct preliminary diamond typing studies. The number and the percentage of Type IIa diamonds for these Orion North EJF units studied are documented in the table below and show that these kimberlites have anomalously high proportions of Type IIA diamonds, particularly K147/K148-EJF4.
|
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|
Number of |
Number of Type IIa |
Percentage Type IIa |
K120-EJF |
1,545 |
167 |
10.81 |
K147-K148-EJF3 |
454 |
184 |
40.52 |
K147-K148-EJF4 |
514 |
326 |
63.42 |
Senior Vice President Corporate Development,
Type IIa diamonds are very rare and generally account for less than 2 percent of all natural rough diamonds mined world-wide from kimberlite deposits. Only a small number of active diamond mines regularly produce Type IIa diamonds, with the most important of these mines being
The Fort à la
All technical information in this press release has been prepared under the supervision of
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This press release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this press release include, but are not limited to,
These forward-looking statements are based on
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