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Untapped Ekati Pipe May Hold 16M cts

Dominion Diamond Corporation has discovered an estimated 16.3 million carats of diamonds in an undeveloped section of its Ekati mine in Canada, Rapaport reports.

“The miner recovered a parcel of 224 carats from about 680 tonnes of kimberlite at the Leslie pipe, its highest-priority area for exploration at the mine complex, it said last week. Dominion projected an average rough-diamond price of $85 per carat from the resource, which could potentially rise to $120 per carat.

The pipe is also promising because it lies close to the rest of the Ekati mining infrastructure, the company added. So far, Dominion has not taken the Leslie pipe’s production potential into account when calculating the mine plan for Ekati.” Rapaport wrote.

“Our renewed focus on exploration is generating strong results along the entire project pipeline, reflecting near-, mid- and longer-term potential,” said Dominion chairman Jim Gowans.

Source: Rapaport