Star Diamond announces a significant increase in the estimated Mineral Resources for the Star – Orion South Diamond Project. According to the report that indicated Mineral Resources on Star have increased 22 percent to 34.8 million carats and the grade has increased 20 percent to 19.4 cpht.
Indicated Mineral Resources on Orion South have increased 37 percent to 36.9 million carats and the grade has increased 32 percent to 17.9 cpht.
Star Diamond has determined that no additional bulk sampling is required on the Orion South Kimberlite for the rigorous estimation of these Mineral Resources, and this results in the savings of millions of dollars in exploration expenditures and shaves significant time off the completion of the Pre-Feasibility Study.
President & CEO, Ewan Mason said: “Our technical team and outside consultants have been working extremely hard for the last year and a half to arrive at this incredible outcome. Not only has the requirement for a bulk sample costing tens of millions of dollars been removed but we have reduced the time to complete a Feasibility Study significantly.
We intend to have a Feasibility Study completed by the end of 2026, with hopes that shovels could be in the ground within 3-5 years, subject to project financing, permitting and updated environmental approvals. Additionally, such a significant increase in grade and total carats across both pipes bodes well for project economics. It is full speed ahead on the PFS”.
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