U.S. Markets open in 2 hrs 15 mins

Star - Orion South Diamond Project Pilot Core & Sonic Drilling Completed

Stock Symbol: TSX: DIAM                                                                                                                

SASKATOON , April 15, 2019 /CNW/ - George H. Read , P. Geo., Senior Vice President Exploration and Development of Star Diamond Corporation ("Star Diamond" or the "Corporation") is pleased to announce that Rio Tinto Exploration Canada Inc. ("RTEC") have completed an HQ core drilling and sonic program, consisting of 3 core drill holes at Star and 23 holes at Orion South (Table 1), and some 2,326.5 metres of sonic overburden drilling from 3 holes at Star and 21 holes at Orion South (Table 2). In total 3,976.52 metres of kimberlite were intersected from 7,056.00 metres of core drilling. This core drilling is required to accurately document the internal stratigraphy of the Star and Orion South Kimberlites in preparation for RTEC's bulk sampling with the Trench Cutter Sampling Rig. The core drilling program was conducted by George Downing Estate Drilling Ltd. of Grenville, Quebec . RTEC geologists are responsible for the supervision of the drilling program and subsequent core logging. Star Diamond geologists also conduct independent logging of the core. In conjunction with this diamond drill program, geotechnical investigations of the overburden are currently being conducted, at the same locations as the core drilling, by Boart Longyear Inc., utilizing a Sonic drill rig. Detailed geotechnical logging of the core collected by the Sonic rig is being completed by Clifton Associates Ltd.

Star Diamond Corporation (CNW Group/Star Diamond Corporation)

Table 1:  Summary of Core Drilling

Kimberlite

Hole ID

Total Hole
Depth (m)

Top of
Kimberlite (m)

Base of
Kimberlite (m)

Kimberlite
Intersection (m)*

Star

FALCG011

234

121.89

227.82

105.93

Star

FALCG012

239

117.91

237.81

110.19

Star

FALCG013

228

126.35

227.93

101.58

Orion South

FALCOSG001

243

101.23

241.80

137.37

Orion South

FALCOSG002

276

101.43

274.43

173.00

Orion South

FALCOSG003

306

126.86

304.67

182.02

Orion South

FALCOSG004

240

103.73

237.10

125.26

Orion South

FALCOSG005

321

102.59

313.32

210.73

Orion South

FALCOSG006

276

106.98

276.00

169.02

Orion South

FALCOSG007

273

105.00

269.66

164.66

Orion South

FALCOSG008

595

110.89

562.37

449.48

Orion South

FALCOSG009

243

99.30

234.92

131.82

Orion South

FALCOSG010

262

106.26

251.98

145.72

Orion South

FALCOSG011

246

118.64

233.32

114.68

Orion South

FALCOSG012

282

118.86

273.99

155.13

Orion South

FALCOSG013

270

117.33

263.00

145.67

Orion South

FALCOSG014

339

116.60

333.39

216.79

Orion South

FALCOSG015

252

106.03

244.25

138.22

Orion South

FALCOSG016

225

99.86

216.56

116.70

Orion South

FALCOSG017

235

108.37

215.39

107.02

Orion South

FALCOSG018

231

108.84

226.40

117.56

Orion South

FALCOSG019

225

103.36

218.36

115.00

Orion South

FALCOSG020

255

100.66

249.05

148.39

Orion South

FALCOSG022

264

115.02

254.75

139.73

Orion South

FALCOSG024

246

123.00

240.34

117.34

Orion South

FALCOSG025

249

102.62

240.13

137.51

Totals


7,056



3,976.52


* Does not include Kimberlitic Sediments

 

Table 2:  Summary of Sonic Drilling

Kimberlite

Hole ID

Total Hole
Depth (m)

Base of
Overburden (m)

Star

FALCS011

129.5

91.4

Star

FALCS012

123.4

88.4

Star

FALCS013

129.5

89.7

Orion South

FALCOSS001

111.3

100.3

Orion South

FALCOSS002

105.2

100.3

Orion South

FALCOSS003

123.4

102.8

Orion South

FALCOSS004

108.2

97.7

Orion South

FALCOSS005

105.2

102.1

Orion South

FALCOSS006

120.4

98.7

Orion South

FALCOSS007

114.3

102.1

Orion South

FALCOSS008

124.4

104.5

Orion South

FALCOSS009

99.1

98.1

Orion South

FALCOSS011

123.4

102.1

Orion South

FALCOSS012

123.4

107.9

Orion South

FALCOSS013

115.8

105.8

Orion South

FALCOSS014

111.3

108.2

Orion South

FALCOSS015

111.3

93.0

Orion South

FALCOSS016

105.2

99.1

Orion South

FALCOSS017

111.3

102.1

Orion South

FALCOSS019

108.2

99.8

Orion South

FALCOSS020

105.2

99.1

Orion South

FALCOSS022

71.6

Unknown

Orion South

FALCOSS024

123.4

104.3

Orion South

FALCOSS025

105.2

101.6

Total


2,326.5


 

Senior Vice President Exploration and Development, George Read , states: "This core and geotechnical drilling program is an important precursor to RTEC's bulk sampling with the Trench Cutter Sampling Rig scheduled to commence once the warmer weather arrives. The selected locations of these core holes on the Star and Orion South Kimberlites will act as pilot holes for the upcoming program. Core hole FALCOSG008 interescted one of the feeder vents of the Orion South Kimberlite and drilled 449.48 metres of kimberlite before terminating at a total depth of 562.37 metres below surface in dolomite country rock. This deep intersection of kimberlite is consistent with the Orion South geological model prepared by Star Diamond geologists."

Star Diamond Corporation is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Corporation trade on the TSX Exchange under the trading symbol "DIAM". The Corporation's Fort à la Corne kimberlites (including the Star - Orion South Diamond Project, or "Project") are located in central Saskatchewan in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. Rio Tinto Exploration Canada Inc. ("RTEC") refers to Star Diamond's mineral dispositions in the Fort à la Corne diamond district as Project FalCon.

All technical information in this press release has been prepared under the supervision of George Read, Senior Vice-President of Exploration and Development, a registered Professional Geoscientist in the Provinces of Saskatchewan and British Columbia and Mark Shimell, Project Manager, a registered Professional Geoscientist in the Province of Saskatchewan , who are the Corporation's "Qualified Persons" under the definition of NI 43-101.

Caution Regarding Forward-Looking Statements

This news release contains forward-looking statements as defined by certain securities laws, including the "safe harbour" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook. In particular, statements regarding the Corporation's future operations, future exploration and development activities or other development plans constitute forward-looking statements. By their nature, statements referring to mineral reserves, mineral resources, PEA or TFFE constitute forward-looking statements. Forward-looking statements contained or implied in this press release include, but are not limited to, RTEC's and the Corporation's objectives for the ensuing year, including the proposed bulk sampling program.

These forward-looking statements are based on the Corporation's current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific.

Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, developments in world diamond markets, changes in diamond prices, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of the Corporation or its partners, the effects of competition in the markets in which the Corporation operates, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in the Corporation's most recently filed Annual Information Form, annual and interim MD&A. The Corporation's anticipation of and success in managing the foregoing risks could cause actual results to differ materially from what is anticipated in such forward-looking statements.

Although management considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to it, those assumptions may prove to be incorrect. When making decisions with respect to the Corporation, investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events. Unless required by applicable securities law, the Corporation does not undertake to update any forward-looking statement that is made herein.

SOURCE Star Diamond Corporation


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2019/15/c1751.html