The company has discovered 204kg sample returns at the Target 5 Kimberlite 1 float on the Cue Diamond project with a high diamond count of 1.08 per kilogram.
A total of 221 diamonds were recovered, from 204.44kg of kimberlite float, having a total weight of 1,302,000 octocarats (10-8 carats).
Commenting today, executive chairman Patrick Cheetham said that the positive result is one of the best diamond sampling results, reported from the Yilgarn Craton in Western Australia.
"Results from this second larger sample substantiate our expectation that this larger sample would yield larger stones than were recovered from the initial 46kg sample," Cheetham added.
"Diamond size distribution modelling for these new results indicate a higher economic potential for Target 5 compared to the previously tested Cue 1 kimberlite," Cheetham continued.
"The grade potential is higher and the extent of surface float suggests it could be larger."
The company has drill tested only the Cue 1 kimberlite and identified kimberlite float in three additional areas within its Cue Diamond project, till date.
