June 12, 2012: Montreal, Quebec – Stornoway Diamond Corp. (Stock Profile – TSX: SWY) announced the filing on SEDAR of a National Instrument (“NI”) 43-101 technical report representing the first Mineral Resource estimate for the Q1-4 kimberlite pipe located at Stornoway`s 100% owned Qilalugaq Diamond Project in Nunavut, Canada. The Qilalugaq Diamond Project includes the Qilalugaq kimberlite pipes and the Naujaat system of kimberlite dykes, and has been the focus of ongoing exploration and assessment work by Stornoway since it was optioned and subsequently acquired from BHPB Billiton Diamonds Inc. (“BHPB”) in July 2006 and July 2010, respectively.
Highlights of the NI 43-101 technical report include:
- a total Inferred Mineral Resource for the Q1-4 kimberlite pipe of 26.1 million carats from 48.8 million tonnes total content of kimberlite with an average +1 DTC total diamond content of 53.6 carats per hundred tonnes (cpht) extending from surface to a depth of 205m;
- additional resource upside has been identified in the form of a target for further exploration for the Q1-4 kimberlite pipe of between 7.9 to 9.3 million carats from 14.1 to 16.6 million tonnes total content of kimberlite with an average +1 DTC total diamond content of 56.1 cpht, extending from 205m depth to 305m depth.