Canada Site Shows High-Value Potential

RAPAPORT… Star Diamond Corporation has noted a large quantity of high-value
and large rough stones at its two exploration sites in Canada, sending its
stock price shooting upward.



Nearly 27% of diamonds at its Star project are type IIa, a
category that represents less than 2% of all rough diamonds mined from
kimberlites, the company reported Monday. The proportion of that category at its Orion
South kimberlite is 13%, it said following a major study of goods it had
recovered from the locations.


The company identified a 49.09-carat diamond from Star, and
a 32.35-carat stone from Orion South. It also recovered two diamonds that were
smaller but more valuable: An 11.96-carat stone from Star worth $11,333 per
carat, and a 15.88-carat diamond from Orion South that it valued at $2,800
per carat.


“The presence of two high-value diamond groups (octahedra
and type IIa) greatly strengthens the future potential-production diamond
pricing from the Star and Orion South kimberlites,” said George Read, Star
Diamond’s senior vice president of exploration and development.


The company’s share price rose 9% in early trading
Monday.


Image: Rough diamonds from the Star and Orion South projects. (Star Diamond Corporation)