Stornoway recovers diamonds from two kimberlites

Vancouver — Stornoway Diamond (SWY-V) has tabled encouraging diamond results from its recent drill campaign on the 5.5 million acre Aviat Project, located on the Melville Peninsula in eastern Nunavut.

Caustic fusion analysis has recovered 737 diamonds from a 531.7 kg sample taken from the AV-1 kimberlite. An additional 30 diamonds were recovered from a 39.4 kg sample taken from the AV-2 kimberlite.

The three largest stones measured 4.00 by 3.50 by 1.80 mm; 2.34 by 2.00 by 1.76 mm; and 2.40 by 1.48 by 1.00 mm. All three of these stones came from the breccia phase of the AV-1 kimberlite which was discovered during the recent drilling campaign. Detailed information of diamond weights and stone descriptions are not yet available.

‘The first two kimberlites discovered on the Aviat Property are both significantly diamondiferous and will continue to be a focus in the near term,” commented Eira Thomas, president of Stornoway. “Preliminary data from 2003, however, suggest the potential for the discovery of additional diamond sources elsewhere in the landholdings. Diamond exploration is still at an early stage, and regional work will continue to be a top priority for the joint venture in 2004.”

The two kimberlite bodies are situated about four km apart within a prominent structural corridor. Stornoway drill tested the propects with 7 holes, or 1,102 metres, of diamond core drilling during August and September this year. Drilling encountered hypabyssal and breccia phases of kimberlite. Both the hypabyssal and breccia phases from the AV-1 pipe returned comparable diamond counts when viewed on a stones per kilogram basis; 1.44 stones per kg and 1.32 stones per kg, respectively.

Stornoway states that the initial sieve results indicate that the breccia phase appears to potentially have a coarser diamond distribution.

Interpretation of the AV-1 drill results to date suggests the body is a minimum of 160 metres in length and between 40 and 60 metres in width. The kimberlite remains open to depth and towards the east.

Stornoway will perform additional drilling to further delineate the size potential of AV-1 body. About eight tonnes of kimberlite collected from the surface exposure of AV-1 in the fall of 2003 will be processed for macrodiamonds in the coming months.

The first inclined drill hole at the AV-2 kimberlite cut 2.63 metres of kimberlite followed by two other separate intersections of 9.3 metres and 3.14 metres. A second drill hole testing a magnetic anomaly 75 metres further to the southwest of the showing cut two separate intersections of kimberlite measuring 2.2 metres and 6.5 metres in length.

Stornoway states that the true size and nature of the AV-2 kimberlite is currently unknown and more drilling is required to define it. Results of the recent caustic fusion work are too small to be representative but do indicate that both the hypabyssal and breccia phases of AV-2 are diamondiferous.

Stornowy has spent about $5 million on the Aviat project this year. Exploration included the collection of roughly 2,300 till samples, 56,900 line km of airborne magnetic data, 1,900 line km of airborne electromagnetic data and almost 8 tonnes of kimberlite from the surface exposure of AV-1. The junior also prospected and performed ground geophysics and 1,102m of core drilling. Petrographic and geochemical studies of both the AV-1 and AV-2 kimberlites are now being performed. The junior diamond explorer plans to kick off a larger drilling campaign early next year.

Stornoway holds varying interests in more than 7 million acres of prospective diamond properties throughout the Melville Peninsula, including a 70% interest in the 5.5 million acre Aviat Project. Aviat is a joint venture between Stornoway, BHP Billiton (BHP-N) (20%) and Hunter Exploration Group (10%).