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Stellar Diamonds Plc
Summary
| Project: | Tongo-Tonguma | |
|---|---|---|
| Deposit: | Tongo-Tonguma | |
| Location: | Sierra Leone | |
| Commodities: | Diamonds | |
| Date: | 10/31/2016 | |
| Report Code: | (no Code) | |
| Report Type: | PEA | |
| Project Stage: | Mine Development | |
| Report details: | 31-10-2016: Stellar Diamonds Plc announces a PEA report for its Tongo-Tonguma deposit at the Tongo-Tonguma project. PEA results for the proposed Tongo-Tonguma Mine. Stellar Diamonds plc has assembled a quality portfolio of diamond development and explorat | |
| Resources: | (Resource, Inf.): 2.195Mt for 3.995M carats contained at Tongo-Tonguma | |
| CP/QP: | [Overall Report]: Paul Sobie (MPH Consulting Ltd.) | |
| ABSTRACT: | Stellar Diamonds plc has assembled a quality portfolio of diamond development and exploration projects in West Africa. Stellar has conditionally agreed to acquire the Tonguma Project in Sierre Leone from Octéa Mining Limited. Assuming completion of this transaction (the “Transaction”), it is intended that the combined Tongo-Tonguma Mine Development Project will become Stellar’s flagship project. Accordingly, the primary focus of this competent person’s report is Tongo-Tonguma, and specifically the independent resource work and preliminary economic assessment (“PEA”) engineering work carried out on it. As well, all recent work on Stellar’s other projects is presented herein. This report represents a compilation of independent and past work on most of the projects, as well as Stellar’s own recent work on their Baoulé Project in Guinea. No new independent technical work has been carried out by MPH as part of this competent person’s reporting assignment – all work compiled herein is ascribed to the consulting organisations noted, who are well-known professionals and experts in their respective fields. All of their work has been to JORC standards, where stated. Tongo-Tonguma represents combining Stellar’s Tongo Project with Octéa Mining Limited’s Tonguma Project which together cover the entire historical Tongo Diamond Mining Area of alluvial deposits, and their high-grade kimberlite dyke sources. Diamond quality from the overall Tongo area has long been known as very high, and the resource work by Stellar at Tongo, and Octéa at Tonguma have confirmed that the source kimberlite dykes do indeed produce high-quality assortments. The resource work carried out by both groups and their independent consultants has confirmed substantial high grade resources in three kimberlite dyke deposits, but to inferred confidence levels only thus far. These resources are the basis for the Preliminary Economic Assessment (“PEA”) completed by Paradigm Project Management and SRK Consulting (“PPM/SRK”) which suggests compelling economic potential for developing three underground mines at the combined Tongo – Tonguma project. | |
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