Stornoway Diamond Corp. reported the results of an independent valuation of bulk-sample diamonds recovered from the Renard 65 kimberlite pipe on its Renard diamond project in north-central Quebec. The sample was undertaken with a view to the potential conversion of material currently classified as inferred mineral resource to indicated mineral resource and, if warranted, to mineral reserve. The valuation has confirmed a high-quality diamond population at Renard 65 that Stornoway anticipates will allow the addition of a substantial quantity of new, open-pit resources to the project’s mine plan.

The Renard mine plan currently contemplates mining a 17.9-million-carat mineral reserve from the Renard 2, 3 and 4 pipes from a combined open-pit and underground operation at a processing rate of 6,000 mt/d. The mine plan does not include any inferred mineral resources. The addition of new open-pit resources at Renard 65 is expected to allow an increase in processing capacity to 7,000 mt/d and the extension of the project’s reserve life.

Within the larger Renard resource inventory, Renard 65 contains an inferred resource of 3.7 million carats in 12.9 million mt at an average grade of 29 carats/100 mt to a depth of 290 m. Exploration potential for the pipe is estimated at between 6.8 million and 13.7 million carats in 29.5 million to 41.6 million mt at between 23 and 33 carats/100 mt from 290 m to 775 m in depth.