Scientific and Technical Data
Diamond results reported in this release are based on dense media separation (DMS) processing work completed by Stornoway at its wholly owned and operated 10 tonne per hour (tph) DMS plant situated in northern Quebec. Kimberlite was prepared through a primary jaw crusher, with -50 mm material fed directly into the DMS which is configured to recover stones retained on a 1.0 x 12.0mm slotted screen. Recovery of +1 DTC diamonds from the DMS concentrate was carried out at Stornoway's wholly owned diamond laboratory in North Vancouver whereby concentrates were processed through x-ray sorter equipment with a grease table finish to generate a final concentrate which was hand sorted to extract diamonds. Quality assurance protocols, security and actual operating procedures for the processing, transport and recovery of diamonds conform to industry standard Chain of Custody provisions. As part of Stornoway's ongoing QA/QC program, all aspects of the bulk sample program are subject to audit. Any material changes to the recovered diamond contents provided above will be reported when available.
Mr. David Skelton, P.Geo. (QC), P.Geol (AB), Vice President, Project Development for Stornoway is a Qualified Person as defined under National Instrument ("NI") 43-101 and was responsible for supervising the Renard 65 bulk sample program on the Renard Diamond Project. Mr. Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration for Stornoway is a Qualified Person as defined under NI 43-101 and was responsible for supervising the diamond recovery. Messrs. Skelton and Hopkins have reviewed and approved the scientific and technical information contained in this release. Diamond valuations were performed by Mr. Shlomo Tidhar of Galaxy Diamond Expertise (HK), a consultant to Stornoway.
About the Renard Diamond Project
The Renard Diamond Project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Quebec. In November 2011, Stornoway released the results of a Feasibility Study at Renard, followed by an Optimization Study in January 2013, which highlighted the potential of the project to become a significant producer of high value rough diamonds over a long mine life. Probable Mineral Reserves as defined under NI 43-101 stand at 17.9 million carats, with a further 17.5 million carats classified as Inferred Mineral Resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside. All kimberlites remain open at depth. Pre-production capital cost stands at an estimated C$752 million, with a life of mine operating cost of C$57.63/tonne giving a 67% operating margin over an initial 11 year mine life. Readers are referred to the technical report dated December 29, 2011 in respect of the November 2011 Feasibility Study for the Renard Diamond Project, and the press release dated 28th January 2013 in respect to the January 2013 Optimization Study, for further details and assumptions relating to the project.
About Stornoway Diamond Corporation
Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Quebec's first diamond mine. Stornoway also maintains an active diamond exploration program with both advanced and grassroots programs in the most prospective regions of Canada. Stornoway is a growth oriented company with a world class asset, in one of the world's best mining jurisdictions, in one of the world's great mining businesses.
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