Diavik Sample Valued at $82 Per Carat

Aber Diamond reports that a sample of 11,771 carats of diamonds recovered from the A-154 North kimberlite pipe has been valued at $82 per carat.

The diamonds were recovered from a total of 19,342 tons of kimberlite mineralization extracted by mining the low-grade upper geological unit of the A-154 North kimberlite pipe and have characteristics similar to those seen in the A-154 South production.

Although the A-154 North pipe is within the same open pit area as A-154 South, Aber's Bankable Feasibility Study of April 2000 incorporates only 4.5 million carats of A-154 North from 1.3 million tons of probable ore, at a grade of 3.5 carats per ton, into reserves.

This was calculated on the basis of an earlier average price estimate of $33 per carat on a parcel of only 157 carats of diamonds recovered from the pre-feasibility large diameter drilling campaign.

This small sample was not representative in the intermediate sized diamonds, which are the most important contributor to overall price. The operator, Diavik Diamond Mines is currently completing the reserve reconciliation for the first pipe, A-154 South. Once this is complete DDMI will revise the mine plan to take into account the findings from this work and the bulk sample of A-154 North.