Renard Mine Road Opened to All-Season Traffic, Says Stornoway

(IDEX Online News) – Stornoway Diamond Corp says the Renard mine road has been opened to all-season vehicle traffic for the first time.

All four road construction segments of the road and the Route 167 extension that are under construction by Stornoway and the Quebec Ministry of Transport have now been connected, allowing the full transit of construction vehicles from Temiscamie, at the end of the existing public highway, to the Renard project site 240 km to the north.

Matt Manson, President and CEO commented: "It is now possible to drive directly to the Renard project by permanent road. The connection of each construction segment has been achieved two months earlier than expected, and well ahead of the fourth quarter 2013 schedule established when construction of Stornoway's portion of the road began in April. We are also forecasting final completion of the Renard mine road within budget.

"The Renard project is now permitted, connected by road, and ready to build. The project's large mineral resource, and its extensive exploration upside, offers a project producing up to two million carats of diamonds per year and projected annual revenues of up to C$450 million per year within its initial 11 year mine life. Project financing discussions with lenders and prospective investors are ongoing and progressing well, with a view to first construction mobilization prior to the end of 2013."

Construction of the road to provide all-season vehicle access to the Renard project began in February 2012.

The Renard mine road has opened initially for construction traffic only, and is not yet open for public use, and overall completion stands at 50 percent.