Stock Symbol: DIAM: TSX
SASKATOON, May 23, 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 the ten Cutter Soil Mixing ("CSM") panels at the proposed trench cutter bulk sample positions on the Star Kimberlite. As a result, the CSM rig and associated concrete plant have been demobilized from site. In preparation for the trench cutter bulk sampling program, the Kimberlite Separation Unit ("KSU") has been delivered to site and is currently being assembled and commissioned. The KSU is designed to recover all kimberlite fragments between 80 and 0.85 millimetres, from the slurry excavated by the trench cutter rig. This washed kimberlite material will be collected in cubic metre bulk bags for delivery to Bulk Sample Plant ("BSP"). Impact Mechanical Services Ltd. of Prince Albert, Saskatchewan has been awarded the contract to assemble the BSP, which was fabricated by Consulmet in South Africa in modular, containerized units. Unpacking and assembly of the BSP is currently underway. All of these activities are taking place in the Fort à la Corne diamond district of central Saskatchewan, Canada, on mineral dispositions held 100 percent by Star Diamond, in preparation for RTEC's bulk sample drilling program on the Star - Orion South Diamond Project. RTEC refers to Star Diamond's mineral dispositions in the Fort à la Corne diamond district as Project FalCon.
Senior Vice President Exploration and Development, George Read, states: "RTEC is in the process of assembling all the components required for the proposed trench cutter bulk sampling program on the Star Kimberlite. Once assembly and commissioning of the equipment has been completed, trench cutter drilling and bulk sample collection can commence. The trench cutter rig, KSU and BSP have all been designed to minimize diamond breakage, due to the known coarse diamond size frequency distributions of the Star and Orion South kimberlites. Star Diamond Corporation is encouraged by the level of activity on site and the pace at which tasks are being completed in preparation for the bulk sample drilling program on the Corporation's Star Kimberlite."
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.
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
