Canadian diamond exploration and development company Stornoway Diamond Corporation has reported the completion of a winter for its Renard Diamond Project site.
Located in the James Bay region of north-central Québec, the mine road was completed two weeks ahead of schedule by the Québec Ministère des Transports.
The road will remian open for nearly 6 weeks, wherein Stornoway will mobilize heavy equipment necessary to build the all-season Renard Mine Road.
Completion of the road has made the project accessible via road for the first time since its discovery in 2001.
Stornoway’s 100% owned project, the first diamond mine in Québec, is expected to produce high value rough diamonds over a long mine life.
The deposit hosts probable mineral reserves of 17.9 million carats and inferred mineral resources of 17.5 million carats.
Stornoway has predicted pre-production capital cost of CAD$752m ($747m), with a life of mine operating cost of CAD$57.63 ($57.27) a ton at a 67% operating margin over an initial 11 year mine life.