In its pipeline of additional projects Stellar holds a 7km² licence in south east Guinea which covers the high grade Droujba kimberlite pipe and adjacent high grade kimberlite dyke, Katcha, as well as 118km² of neighbouring prospective ground. A JORC compliant inferred resource of just under 3 million carats is established for the project to date.

DROUJBA

In 2012 Stellar, following the execution of a phased exploration programme, completed a preliminary evaluation of the Droujba pipe, and delivered an Inferred Maiden Resource Statement (JORC compliant) of 2.5 million carats to a depth of 360m from surface. This root zone, hypabyssal kimberlite has a surface bulk sample grade of 88 cpht with a currently modelled diamond value of US$45 per carat and an in-situ value of US$40 per ton.

The Droujba project has been placed on care and maintenance whilst Stellar focusses efforts at Baoulé. As diamond prices continue to increase the economics of the Droujba project will be reviewed.

KATCHA

Adjacent to the Droujba pipe is the 5km long Katcha kimberlite dyke. A drilling and bulk sampling programme during 2012 has resulted in the inclusion of an additional 446,000 carats being brought into the Inferred Resource category, resulting in a combined resource of 2,929,000 carats (JORC compliant). The resource grade for Katcha has been calculated at 140 cpht with an average modelled diamond value of US$57 suggesting an in-situ value of US$80 / ton.

katcha_dyke_intersection

Katcha dyke. Bulk Sampling trench with +1m wide intersection

 

katcha_dyke_footwall

Katcha dyke in contact with the Droujba footwall

The initial 446,000 carat resource for Katcha was established over only a 470m strike length to 150m depth. There is therefore considerable potential for a much larger resource over the Katcha dyke to be established through drilling the full 5km length to a depth of 300m.