Stellar Diamonds said that its exploration licence over the Tongo kimberlite dyke project, in Sierra Leone has been renewed on a priority rights basis by the country’s Ministry of Minerals Resources.
The licence was host to four diamondiferous kimberlite dykes.
“The renewal of our Tongo exploration licence in line with the Mines and Minerals Act of 2009 enables the company to pursue its objective of doubling the existing 660,000 carat resource through the ongoing drilling and evaluation programme,” said company chief executive Karl Smithson in a statement to Rough & Polished.
He said Tongo remained a priority project for Stellar Diamonds and, along with the Droujba kimberlite project in Guinea, the company “believed” that it was “well placed” to deliver value in the short term through increasing its inferred resource base of 3.1 million carats and moving these projects through to the pre-feasibility stage.
Meanwhile, Stellar said that discussions were still ongoing with Sierra Leone’s Ministry of Mines concerning the Kono licence dispute.
The two Kono licences were initially granted in 2005 but were not renewed this year.
Stellar said it was committed to ensuring the company’s rights at Kono were “honoured” as it had to date invested over $19m in exploration and development at these licences.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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