At Baoulé, Stellar is focused on continuing its evaluation of the 5 hectare kimberlite pipe with the objective of bringing the deposit to the Pre Feasibility level, through investments of up to $ 8.5M, committed by Dubai based Citigate Commodities Trading – our new Joint Venture partner.

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 2.88 million carats at +1.25mm grade of 13cpht. Through trial mining of over 100,000 dry tonnes of kimberlite (2014-2016), Stellar recovered 11,808 carats giving an average grade of 11.4cpht. A total of 929 stones greater than 1 carat were recovered including numerous high value gem and fancy coloured (yellow) diamonds of up to 12 carats in size. Additionally a one 55 carat stone was recovered, which confirms the Company’s belief that the Baoulé pipe is a source of large diamonds. Further trial mining is scheduled for 2017.

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 and generated over $4M in revenues. The remaining resource is estimated by Stellar at 200,000 carats. Both the Droujba and Mandala projects are currently on care and maintenance whilst the Baoulé trial mining evaluation continues.