Stellar Diamonds in Midst of Definitive Feasibility Study at Tongo

Stellar Diamonds plc (LSE:STEL) provided an operational update on its Sierra Leone-based Tongo dyke kimberlite project, commenting that a definitive feasibility study is underway

Other highlights include:

• 650 tonnes bulk sample already collected as part of the Dyke-1 feasibility study
• Sample processing has commenced using the Company’s on-site 5tph DMS plant
• Objective to recover a minimum 1,000 carat parcel for diamond grade and value confirmation
• First results expected to be reported in early February
• Previous results established a grade of 120cpht at $248 per carat from a 1,050 carat parcel

Karl Smithson, Stellar’s chief executive, commented:

We continue to make excellent progress in proving the inherent value of the high grade and high value 1.1 million carat resource of Dyke-1 at Tongo. Good progress has been made on the bulk sampling and I look forward to reporting processing results in early February. Our focus for 2014 is the completion of a DFS on which a production decision will be made. The project has already yielded attractive diamond grades and values and we remain confident that we have an exciting opportunity to crystallise value for shareholders by advancing Tongo, which is located in a highly prospective diamondiferous region, into production.

Click here to read the full Stellar Diamonds plc (LSE:STEL) press release.