Trial mining production at Stellar Diamonds’ (AIM: STEL) Baoulé Kimberlite pipe project in Guinea is proving to be less trial and more production if the latest results are anything to go by.
Operations only commenced earlier this month but already 196 carats have been recovered at an average grade of 17 cpht (+1.25mm cut-off) easily exceeding minimum grade expectations of 13 cpht.
Excellent gem quality
Out of this total three five carat plus diamonds, two of which are of excellent gem quality, have been recovered suggesting that Baoulé is a large stone deposit.
This wouldn’t be much of a shock as it is located in the heart of the Aredor diamond district of Guinea, where very large, high value diamonds have historically been recovered from alluvial mining.
In all over 50% of the diamonds are classified as being of gem quality.
The plant is still undergoing an optimisation exercise before volumes of throughput of kimberlite ore are increased.
As well as generating near term cash flows before year-end 2014 when first diamond sales are targeted, trial mining will also help to determine the diamond grades and values at Baoulé.
An internal resource statement is targeted for Q4 2014.
Guinea Standard Time is Greenwich Mean Time (GMT) and unfortunately as Guinea does not operate Daylight-Saving Time there will be no extra hour in bed this Sunday in Conakry.