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Stornoway Diamond Corporation(TSX:SWY) announced that it has filed an NI 43-101 report for its first mineral resource at Qilalugaq on SEDAR.
Stornoway Diamond Corporation(TSX:SWY) announced that it has filed an NI 43-101 report for its first mineral resource at Qilalugaq on SEDAR.
Highlights of the report include:
a total Inferred Mineral Resource for the Q1-4 kimberlite pipe of 26.1 million carats from 48.8 million tonnes total content of kimberlite with an average +1 DTC total diamond content of 53.6 carats per hundred tonnes (cpht) extending from surface to a depth of 205m;
additional resource upside has been identified in the form of a target for further exploration for the Q1-4 kimberlite pipe of between 7.9 to 9.3 million carats from 14.1 to 16.6 million tonnes total content of kimberlite with an average +1 DTC total diamond content of 56.1 cpht, extending from 205m depth to 305m depth.
Stornoway, President and CEO, commented:
As we focus on the financing and development of the Renard Diamond Project in Québec, we continue to nurture our pipeline projects that represent the company’s future growth potential. The Qilalugaq Project, along with the Aviat Project on the Melville Peninsula of Nunavut, is one of our advanced exploration projects where previous work has delineated a large potential inventory of diamonds, but where we have only limited diamond valuation data. The Q1-4 kimberlite complex at Qilalugaq is large, easily accessible from the hamlet of Repulse Bay, and exposed at surface. We are very pleased to have reported such a large maiden mineral resource estimate at a project that, with the long term positive outlook on diamond prices, is becoming increasing compelling.
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