Stellar’s Baoule Kimberlite Could Host “Significant” Diamond Resource

Stellar Diamonds plc (LSE:STEL) yesterday provided an update on its Guinea-based Baoule kimberlite diamond project, commenting that it is in the midst of fast tracking the project to trial mining.

Recent company highlights include:

• Relocation of Stellar’s owner-operated processing plants to Baoulé completed ahead of schedule
• Base camp and road upgrade complete and plant construction in progress
• Environmental Impact Study site visit completed and report in preparation
• First commissioning ore expected to be processed in September 2014
• Internal company modelling suggests that the Baoulé pipe has the potential to host a significant diamond resource

Karl Smithson, chief executive of Stellar, commented:

Stellar has made tremendous progress over the past few weeks towards our objective of bringing the Baoulé kimberlite pipe into trial mining and generating early cash flow in Q4 2014. Both our Mandala 100tph DMS and the Droujba Bulk Sampling DMS plants have now been relocated to the Baoulé site and construction of the base camp has also been completed. Our team on the ground has made strong headway with the re-assembling of the plants, and I am delighted to confirm we are on track for commissioning in early September. I look forward to providing further updates as we progress towards trial mining the diamondiferous Baoulé pipe, which is located in the heart of the world famous Aredor diamond fields, a region that has historically produced some of the largest and highest value gem diamonds in Guinea.

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