Stellar Diamonds reports two Guinea diamond exploration licenses renewed

Stellar Diamonds plc, which is focused on operations in West Africa, said two diamond exploration licenses in Guinea have been renewed.

The licenses are for areas next to its Droujba project and cover 118 square kilometers. Stellar says they are considered prospective for the discovery of diamondiferous kimberlites.•The Droujba operation hosts a three-million carat diamond resource

Chief Executive Karl Smithson said: "We are pleased that these exploration licences, held by our subsidiary company Friendship Diamonds, have been renewed for a further two years. This follows from the announcement in January that our Droujba licence was also successfully renewed for a further two years.

"These two exploration licences are located adjacent to the company's Droujba kimberlite pipe and Katcha kimberlite dyke which have a current 3 million carat (JORC inferred) diamond resource. A number of unresolved diamond and indicator mineral anomalies are located in these licence areas, which indicates the potential for as yet undiscovered diamondiferous kimberlites.

"While our short term objective is to complete the economic scoping studies on the Droujba diamond resource we shall also look to test the significant exploration potential of these two licences," he added.