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F E B R U A R Y / M A R C H 2 0 1 4
STORNOWAY DIAMOND CORP.
Stornoway Diamond Corp. [SWY-
TSX; SWYDF-OTC] has a 100% interest
in the Renard diamond project 350 km
north of Chibougamau in the James Bay
region of north-central Quebec. This is
a development-stage project with access
road and airport construction under way.
Probable NI 43-101 reserves stand at 17.9
million carats. Total indicated resources,
inclusive of the mineral reserve, is 27.1
million carats, with a further 16.9 million
carats classified as inferred resources, and
25.7 to 47.8 million carats classified as
non-resource exploration upside. All kim
-
berlite bodes remain open at depth.
Pre-production capital cost stands at an
estimated CDN $752 million, with a life-of-
mine operating cost of CDN $57.63/tonne,
giving a 67% operating margin over an
initial 11-year mine life. The project will
be Quebec's first diamond mine.
PEREGRINE DIAMONDS LTD.
Peregrine Diamonds Ltd. [PGD-TSX]
has discovered two new diamond districts
in Nunavut, northern Canada – Nanuq in
2007 and Chidliak in 2008. At the 100%-
owned Chidliak Project on Baffin Island,
located 120 km from Iqaluit, capital of
Nunavut, 67 kimberlites have been dis
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covered. Peregrine collected a bulk sample
weighing 404.2 dry tonnes from the CH-6
kimberlite in 2013. The grade from the
first 222.1 dry tonnes was 2.70 carats/
tonne for commercial-size diamonds larger
than the 0.85 mm sieve size with a signifi
-
cant population of gem-quality diamonds.
At the 100%-owned Nanuq Project, 300
km north-northeast of Rankin Inlet, three
diamondiferous kimberlites have been
discovered. A total of 1,559 kg of material
from the three kimberlites were analyzed
and 1,013 diamonds larger than 0.075 mm
were recovered.
In late 2013, Peregrine Diamonds com
-
pleted a $3,000,544 private placement
financing on a flow-through share basis at
$0.65 per share.
