Positive results for Stornoway’s Aviat diamond project

A conceptual study suggests that the Eastern Sheet Complex at Stornoway Diamond‘s (SWY-T) Aviat project in eastern Nunavut could hold between 24.1 million and 40.3 million carats.

The study, done by SRK Consulting, notes that testing to date on the Eastern Sheet Complex (ESC) is insufficient for a National Instrument 43-101 resource estimate.

SRK says the ESC has a conceptual resource of 235 carats per hundred tonnes (+/- 30 cpht), assuming 100% recovery and based on limited micro and macro diamond data collected between 2003 and 2007.

The ESC is thought to contain four kimberlite dykes totaling 12.4 million to 16 million tonnes of kimberlite material. One of the dykes, ES 1, spans an area of 2.6 sq. km and represents 78% of the kimberlite volume. The entire Aviat project covers almost 2,000 sq. km.

Stornoway CEO Eira Thomas points out that none of the kimberlites are under major bodies of water and all of them are high-grade, laterally-contiguous and shallowly-dipping.

“ES 1 and 2 have surface outcrop exposures and approximately 80% of the current potential mineral deposit is situated within 100 metres of surface,” Thomas said in a statement.

She goes on to say that most drilling has focused on nearsurface portions of ES 1, but notes that there is significant expansion potential for down-dip elsewhere within the ESC, and in the pipe-like bodies that were not included in the SRK study.

A 202-tonne bulk sample from ES 1 has been sent for processing to recover commercial-sized diamonds. Results are expected in December and Stornoway hopes they sample will give a more authoritative indication of diamond content and value within ES 1.

“We are anticipating initial processing results from a 200-tonne sample of the ES 1 kimberlite towards year-end which will provide additional insight into the grade, diamond value and overall economic potential of this large-scale, and growing diamond camp,” Thomas said.

Stornoway will use the bulk sample data to decide whether to go ahead with further bulk sampling or scoping level mining studies.

Stornoway holds a 90% interest in the Aviat projec while Hunter Exploration Group holds a 10% carried interest. Stornoway holds all the marketing rights.

The company expects to receive a resource estimate for its Renard diamond project in the Otish Mountains of Quebec in the near future. Stornoway and 50% joint venture partner SOQUEM (Socit Qubcoise d’Exploration Minire) are in the prefeasibility stage at Renard.