Resources round-up: Stellar Diamonds, Triple Plate, Tri-Star Resources

Stellar Diamonds, a company focused on West Africa, has processed 1,482 dry tonnes of kimberlite (rock known to sometimes contain diamonds) from six separate bulk sample pits during the phase-2 bulk sampling programme in Guinea. A total of 1,477 carats were recovered for an average diluted grade of 100 carats per hundred tons. Four diamonds greater than 10.8 carats and 43 diamonds greater than two carats were recovered during the programme; however two large diamonds that were estimated at 67 and 49 carats were broken during processing.

By MoneyWeek

published 26 September 2012

Gold miner Triple Plate Junction has said that it is awaiting drilling results from its partner, Newcrest, from the first four of the six hole drilling programme at the Kisi prospect at its Manus Island project. The results have been delayed due to unexpected large volumes being tested at the laboratory used, but are due in the near future. Drilling is now under way at the Aria prospect, with the results expected in the fourth quarter of the calendar year.

Exploration and development company Tri-Star Resources has reported a small decrease in pre-tax losses for the half year ended June 30th, from £1.06m to £1.02m year-on-year, although losses per share remained stable at 0.02p. The company is working towards producing antimony from its own deposit in Turkey, where it has received independent geological assessment, which concluded that there is upside to further delineate the mineralisation. Environmental permission was granted for a small scale facility at the deposit, for which an engineering and costing exercise is under way.