RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Canada Site Shows High-Value Potential

Star Diamond exploration project reveals large percentage of type IIa stones.
Mar 4, 2019 11:08 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Star Diamond Corporation has noted a large quantity of high-value and large rough stones at its two exploration sites in Canada, sending its stock price shooting upward.

Nearly 27% of diamonds at its Star project are type IIa, a category that represents less than 2% of all rough diamonds mined from kimberlites, the company reported Monday. The proportion of that category at its Orion South kimberlite is 13%, it said following a major study of goods it had recovered from the locations.

The company identified a 49.09-carat diamond from Star, and a 32.35-carat stone from Orion South. It also recovered two diamonds that were smaller but more valuable: An 11.96-carat stone from Star worth $11,333 per carat, and a 15.88-carat diamond from Orion South that it valued at $2,800 per carat.

“The presence of two high-value diamond groups (octahedra and type IIa) greatly strengthens the future potential-production diamond pricing from the Star and Orion South kimberlites,” said George Read, Star Diamond’s senior vice president of exploration and development.

The company’s share price rose 9% in early trading Monday.

Image: Rough diamonds from the Star and Orion South projects. (Star Diamond Corporation)
Tags: Canada, exploration, George Read, Orion South, Rapaport Magazine, Rapaport News, star, Star Diamond, Star Diamond Corporation
Similar Articles
AlrosaAlrosa Finds Diamond Inside a Diamond
Oct 06, 2019
Alrosa has recovered an unusual piece of rough featuring one diamond...
Lesotho Renews Letšeng Lease
US Bans Import of Zimbabwe Diamonds
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us