Stellar Diamonds Reports “Excellent” Final Bulk Sample Grade for Tonga

Stellar Diamonds plc (LSE:STEL) announced that the final bulk sample grade for its Sierra Leone-based Tonga kimberlite project exceeds 178 carats per hundred tonnes.

Highlights include:

• 1,182 carats recovered from kimberlite ore at an average grade of 178.7cpht
• Sample grade is 49% higher than the 120cpht applied in current resource estimate
• 53 diamonds larger than 1 carat, including stones of 6.7 and 4.6 carats
• Diamonds of excellent shape, colour and clarity with valuation now underway
• Results expected to increase diamond resource (currently 1.1 million carats)

Karl Smithson, chief executive of Stellar, commented:

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. The diamond parcel will now undergo valuation and modelling, with the results expected by early September 2014, prior to a revised financial model and updated resource statement, which we hope to have issued shortly thereafter. We look forward to reporting on these upcoming development milestones as we continue to unlock the intrinsic value of Tongo.

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