May 3, 2022
Star Diamond Corp. (TSX:DIAM, BUY, C$1.20 target, Timothy Lee) announced that it has found a substantial amount of the desirable Type IIa diamonds in kimberlites at its 25%-owned Fort a la Corne diamond project in Saskatchewan. This includes the Star and Orion South kimberlites, which comprise the current resource, as well as the Orion North and Taurus exploration-stage kimberlites. The study focused on the diamond abundance in samples from the Early Joli Fou geological units at kimberlites from Orion North (K120, K147, K148) and Taurus (K118, K122, K150), which were recovered between 2006-08 by large diameter drilling. Notably, of the 24 stones greater than 0.66 carats in size from Orion North 147/148, 66% were of Type IIa, the class that represents the largest and highest-value stones and accounts for less than 2% of all diamonds produced globally. A 2014 study by Star indicated that the Orion North and Taurus Kimberlites could possibly host ~46-79 million carats of diamonds. In addition, Rio Tinto’s (LSE:RIO, Not Rated) Canadian division, which is a 75% owner and Star’s JV partner on the project, has also conducted follow-up work at Orion North and Taurus, confirming that these are high-priority exploration targets. Overall, these are positive results that demonstrate the exploration upside potential at Fort a la Corne. This is a large, district-scale property, hosting a kimberlite field with numerous exploration targets beyond the two kimberlites that make up the current resource. Read more
