Stornoway Diamond Corporation (TSX:SWY) provided an update on activities at its diamond exploration pipeline projects.
As quoted in the press release:
Stornoway’s flagship asset is its 100% owned Renard Diamond Project in north-central Québec, currently the focus of a Feasibility Study and an associated Environmental and Social Impact Assessment. In conjunction with work at Renard, Stornoway has been pursuing vigorous programs of exploration on additional projects with the aim of discovering new kimberlite fields in under-explored regions of Canada. Stornoway’s budget for its 2011 exploration programs is $5.6m, of which approximately $3.5m has been expended to date.
Stornoway’s President and CEO, Matt Manson commented:
“As we work to develop Renard into Québec’s first diamond mine, Stornoway has maintained a strong program of primary diamond exploration in jurisdictions of Canada which remain prospective for important new diamond discoveries. We are particularly excited about progress at our new Pikoo and Aeon projects in Saskatchewan and Québec respectively where, following this summer’s work, we have now established multiple kimberlite indicator mineral anomalies, geochemical confirmation of potentially diamondiferous sources and credible geophysical targets, all under 100% claim ownership. Our goal is to drill both of these projects in 2012.”