Stornoway Diamond will start 2014 resource expansion drill program at the Renard diamond project in Québec early in the second quarter of 2014.

Scheduled to continue into the summer, the drilling program aims to test the resource potential of the Renard 2 kimberlite below the base of the currently defined Indicated Mineral Resource at 600m below surface, the company said.

Results of the program will provide information on diamond content, geology, dilution, density and kimberlite geometry needed for resource conversion.

In addition to adding aggressive exploration of Renard 2 below 800m to a depth of 1,000m or greater through deep, the drilling includes conversion of the estimated 6.2 mCarats of inferred mineral resources between 600m and 700m below surface at Renard 2 to an Indicated Mineral Resource.

Stornoway will also review four additional kimberlites at Renard, which are not included within the current Mineral Resource at Renard and which have had limited previous assessment, if drill is warranted.

Stornoway president and CEO Matt Manson said the construction of the project is scheduled to begin following completion of the financing process.

"Between 25.7 to 47.8 mCarats have been designated a "Target for Further Exploration" at Renard on top of the existing 27.1 mCarats of Indicated Resource and 16.5 mCarats of Inferred Resource," Manson added.

"Now, the opening of the Renard Mine Road allows us to transport to site the larger drill rigs required to test the resource potential of the Renard 2 kimberlite at depth, which at the current drilling is twice as large than at surface, with a higher diamond content than at surface, and open to depth."