Toronto-based Messina Diamond (msc.u-t) has completed the evaluation of 1,303 carats recovered from its initial bulk sampling of the Satellite pipe at the Liqhobong project in Lesotho, South Africa.
The evaluations, done by three independent diamantaires, indicate a run-of-mine value of US$40 per carat. The gem content of the sample averaged 28%, with values reaching up to US$1,400 per carat.
The 1,303 carats were recovered from a 1,952-tonne bulk sample, which constitutes roughly 25% of the total sample that is expected to be extracted from the Satellite pipe. The material extracted to date shows a recovered grade of 67 carats per 100 tonnes. Based on evaluations and recovered grade, the Satellite pipe’s revenue per tonne is calculated at US$26.69.
Based on initial drilling, the pipe is estimated to contain 4 million tonnes to a depth of 125 metres.
A preliminary scoping study shows that operating costs for mining and processing would be about US$5 per tonne. Messina estimates that the pipe could produce about 300,000 carats per year.
The company is sampling the larger Main pipe, and details of grade and diamond evaluations are expected once the treatment of about 10,000 tonnes of sample is completed.
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