Mining Weekly reported that Stornoway Diamonds (TSX:SWY) found a 9.78 ct diamond in north-central Quebec, at its Renard Project. The diamond, which has obtained a preliminary valuation of $7000/ct, has been regarded as one of the most valuable discoveries obtained at the project.
As quoted in the market news:
“The 9.78 ct stone is an unbroken white octahedral gem. The next-largest diamond in the sample is 6.41 ct in size and is also a white octahedral gem of high quality, with a preliminary valuation of $4 700/ct.
Stornoway, which is developing Quebec’s first diamond mine, on Tuesday said about one-third of the Renard 65 bulk sample’s heavy mineral concentrate has now been processed and a total of eleven diamonds larger than 1.8 ct have been extracted.
“Our expectation for the Renard 65 bulk sample was that, as with the other Renard kimberlites, we would have recovered a number of high-quality large stones, given the size of the sample and its likely diamond size distribution. To have obtained two such large diamonds so early on, both of exceptional quality, is highly encouraging,” Stornoway CEO Matt Manson said.”
Get Our Expert Guide to Diamond Investing FREE!Download this FREE Special Report, Investing in Stornoway Diamonds or Other Canadian Diamond Mines – Beyond the Diamond Price Calculator.