GREY:SWYDF - Post by User
Post by
landlubberon Oct 21, 2011 2:31pm
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Post# 19171057
updated feasibility expected soon
updated feasibility expected soon
The Renard Project, Quebec's First Diamond Mine On Schedule, Updated Feasibility Study Expected Soon: Stornoway
Friday, October 21, 2011 7:30 AM
Stornoway Diamond Corp. (TSX:SWY) reports thatconstruction and production of the Renard Project, Quebec’s firstdiamond mine, is on schedule for construction to begin in mid-2013 anddiamond production in mid-2015. Stornoway is part of the Plan Nordproject, announced May 9, which will see mining firms and the Quebecgovernment invest $80 billion over 25 years to mine gold, diamonds,copper, molybdenum, rare-earths, nickel, lithium and uranium innorthern Quebec. The Renard Project currently has an indicatedresource of 24 million carats, an inferred resource of 17 millioncarats and a potential mineral deposit ranging between 24-49 millioncarats, the company says. An updated feasibility study is expectedshortly, the company says. Stornoway is expecting to have road access,through the extension of route 167, to the Renard site by mid-2013, thecompany says. Route 167 leading into the Otish Mountains will have awidth of 10.6 meters and maximum speed limit of 70 km/h. It is a $332million plan to extend route 167 into the Otish Mountains of northernQuebec funded by the government of Quebec and Stornoway. Stornoway is aCanadian-based diamond exploration and development company.
By Alex Létourneau of Kitco News aletourneau@kitco.com
https://agoracom.com/ir/Stornoway/forums/discussion/topics/504111-on-schedule/messages/1604476