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Wednesday, 22nd March 2006 (4864 views)

Shore Gold has reported a $173-per-carat valuation at its Star Diamond project, determined by a 1,992.6-carat parcel from Early Joli Fou Kimberlite Breccia.

A valuation study was commissioned by the company's senior vice president George H. Read in February, in which 5,949.88 carats of diamonds were examined by R. Steinmetz and Sons, Rio Tinto Diamonds and WWW International Diamond Consultants.

The average valuation for this parcel was $102 per carat – based on prices a producer would receive in Antwerp at the present time.

Mr Read said: "Shore Gold is very pleased with this high modelled value of $173 per carat for the EJF-Kimberlite Breccia.

"The favourable diamond size frequency distributions, particularly for the EJF-Kimberlite Breccia and the Cantuar Kimberlite, suggest that large diamonds can be anticipated from these kimberlites in a production setting."

 

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