At Baoulé, Stellar is focused on concluding its trial mining evaluation of the 5 hectare kimberlite pipe with the objective of determining the diamond grade and value with confidence whilst simultaneously generating cash flow to cover the costs of this evaluation exercise.

Baoulé, which has open pit mine potential, is located in the heart of the Aredor diamond district of Guinea which has historically yielded very large, high value diamonds from alluvial mining. Stellar has modelled an internal resource estimate of 22 million tonnes for Baoulé containing 3.3 million carats at +1.25mm grade of 15cpht. The target diamond value, assuming large special stones are recovered, is US$200/ct.

Amongst its pipeline of projects Stellar also holds the Droujba kimberlite pipe to the south east of Baoulé in Guinea. Stellar has defined a high grade (80 to 100cpht) 2.5 million carat resource over the Droujba pipe and a further 448,000 carat resource (at 140cpht) along a 0.5km section of the 5 km long Katcha dyke, for a combined project resource of 3 million carats. There is significant scope for an increase in diamond resource through drilling out more of the high-grade Katcha kimberlite.

In addition, the Company holds a mining licence over the Mandala alluvial diamond mine, where mining between 2009 and 2011 produced over 128,000 carats at an average grade of 0.49 carats / m³. The remaining resource is estimated at 200,000 carats. Both the Droujba and Mandala projects are currently on care and maintenance whilst the Baoulé trial mining evaluation continues.