Diamond

Stornoway Diamond Corporation (TSX:SWY) reported progress at the Renard Diamond Project in Quebec: construction mobilization is proceeding well, as well as civil works on surface facilities pads, site infrastructure and water management systems; orders have been placed on long-lead items for the diamond processing plant and LNG power plant, and temporary construction camps established with 250 beds. The resource expansion drill program is also ongoing, with Renard 2 now confirmed to at least 970 meters vertical depth.

Stornoway Diamond Corporation (TSX:SWY) reported progress at the Renard Diamond Project in Quebec: construction mobilization is proceeding well, as well as civil works on surface facilities pads, site infrastructure and water management systems; orders have been placed on long-lead items for the diamond processing plant and LNG power plant, and temporary construction camps established with 250 beds. The resource expansion drill program is also ongoing, with Renard 2 now confirmed to at least 970 meters vertical depth.

As quoted in the press release:

Construction commenced on July 10th, following the completion of the project’s financing arrangements on July 8th. Progress to date is as follows:

  • Construction mobilization proceeding well with no major variances forecast to date against plan schedule or budget;
  • Civil works underway on surface facilities pads, site infrastructure and water management systems;
  • Orders placed on long-lead items for the diamond processing plant and LNG power plant;
  • Temporary construction camps established with 250 beds;

And concurrently:

  • Resource expansion drill program ongoing, with Renard 2 now confirmed to at least 970 meters vertical depth, indicating substantial new resource potential below the current Mineral Reserve.

Stornoway President and CEO, Matt Manson, said:

We are very encouraged with the good start to our construction program in the six weeks since our ground breaking ceremony on July 10th. Stornoway’s owner’s team, EPCM personnel and on-site contractors have each responded well to the specific challenges of the rapid mobilization of a major mine construction project. We are also particularly pleased with the progress of our 2014 resource expansion drill program which has been underway since April alongside the project construction activities. The drilling completed to date has confirmed that the familiar “Blue” and “Brown” phases of diatreme kimberlite breccia exist over substantial widths from the base of the current Mineral Reserve at 600 meters depth to at least 970 meters depth. As we extend the drill program into the fall, we will concentrate on delineating the margins of the ore body with directional infill drilling to properly quantify tonnage, and we will seek to push the deepest drill contact to 1,200 meters, well in excess of our original target of 1,000 meters. We expect the 2014 drill program will allow us to add additional tonnes to the current mine plan between 600 and 700 meters depth, within the scope of the project’s underground ramp, and allow us to plan for a greatly extended mine life below the initial underground mine.

Click here to read the Stornoway Diamond Corporation (TSX:SWY) press release
Click here to see the Stornoway Diamond Corporation (TSX:SWY) profile.

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