Fort a LA Corne Joint Venture Orbit Program Prioritizes Kimberlites FOR Further Evaluation
NEWS RELEASE April 13, 2022
Stock Symbol: DIAM: TSX Saskatoon, Saskatchewan
FORT A LA CORNE JOINT VENTURE
ORBIT PROGRAM PRIORITIZES KIMBERLITES FOR FURTHER EVALUATION
SASKATOON, Saskatchewan, April 13, 2022 – Star Diamond Corporation (“Star Diamond”) is pleased to
announce an update on the Fort à la Corne Joint Venture. Star Diamond is in the process of completing a review
of information presented at the Mar 3-4, 2022, Technical meetings which included topics of interest consisting
of: 1) ‘Orbit’ project update, 2) Star Kimberlite trench cutter bulk sampling program results, 3 ) Diamond size
and quality analysis, 4) Mineability study, 5) Geological modelling, 6) Community and stakeholder engagement,
7) Environmental and permitting and, 8) Green energy and carbon mineralization. This is the first in a series of
releases which will follow once our analysis of the data is complete.
Fort à la Corne Joint Venture (“FalCon Project”)
The FalCon Orbit exploration program conducted by Rio Tinto Exploration Canada Inc. (“RTEC”) has resulted in
a number of kimberlites being prioritized for additional diamond evaluation work. RTEC geologists of the Orbit
exploration team have , over the past few years , used a spectrum of evaluation techniques to review and
prioritize the Fort à la Corne kimberlites outside of the Star and Orion South Kimberlites, which have already
been subject to extensive evaluation. This program has highlighted the kimberlites of Orion North (K120, K147,
K148) as having significant potential to add to the FalCon Project. Orion Centre ( K145), Taurus (K150, K118,
K122) and K119 stand out in the field as having number of the attributes sought but require further work to
completely evaluate. The locations of these kimberlites relative to Star and Orion South are shown on the map,
which is available on the Star Daimond website . RTEC has indicated that it is in the process of developing
additional diamond evaluation work to be conducted on these kimberlites.
The evaluation techniques used thus far by the Orbit exploration team to prioritize these Orion North, Orion
Centre and Taurus Kimberlites have included:
1. Componentry method of core logging – where kimberlite texture and , more specifically, olivine
macrocryst size and abundance, are quantified. These methods were calibrated on the Star Kimberlite.
2. Diamond inclusion studies – to determine dominant diamond paragenesis found in these kimberlites.
The inclusion bearing diamonds were recovered from the Star Kimberlite and found to be d ominated
by calcium saturated peridotitic garnets frequently associated with lherzolitic mantle.
3. Garnet colour study – the relationship between garnet colour and composition is well known but, in
this study, it was important to define the exact red -purple colour of the Star lherzolitic diamond
inclusions. Garnet populations from other kimberlites were visually examined for the presence of
garnets of this specific colour.
4. Trace element geochemistry – used to characterize specific indicator mineral population s and is a
requirement for the study of thermobarometry.
5. Thermobarometry – mantle peridotitic garnet compositions can be used to determine the temperature
at which they crystallized and some mantle clinopyroxene compositions can be used to determine both
the pressure and temperature of crystallization. These garnet and clinopyroxene temperature and
pressure values can be used to determine the pressure (depth) and temperature in the mantle at which
they crystallized. Diamonds are known to crystallize in relatively narrow temperature (950° - 1,200°C)
and pressure (4-6 GPa) windows. The presence of garnets and clinopyroxenes in the kimberlite that
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crystallized within these windows usually suggests the potential for diamonds to have been sampled by
the kimberlite.
6. Microdiamond sampling – large (1,000 kg) microdiamond samples of continuous sequences of drill core
that are representative of the kimberlite.
Using the information above the Orbit geologists determined an Ore Grade Width Intercept (“OGWI”) for each
kimberlite that contained 80 to 100 metre zones of kimberlite with high olivine macrocryst abundance,
significant numbers of diamond stability field garnets, microdiamond populations with size frequency
distributions equivalent or coarser than the Star kimberlite and less than 120 metres of overburden. The
shallowest overburden depth is found on Orion North K147 and K148 (93 metres) followed by Orion South (100
metres).
These studies have highlighted the kimberlites of Orion North (K120, K147, K148 ) as satisfying the OGWI
requirements and that these kimberlites will require additional evaluation work. Orion Centre (K145), Taurus
(K150, K118, K122) and K119 indicate the potential to deliver OGWIs.
George Read, Senior Technical Advisor of Star Diamond said: “The Orbit exploration team has shown that there
are significant additional opportunities among the Fort à la Corne kimberlites to increase the potential ore
available to a future diamond mine. The geological model for Orion North (K120, K147, K148, K220) contains a
significant volume of kimberlite known to be diamond bearing, as shown by previous large diameter drillin g
conducted by Star Diamond. Additional evaluation work is required to enable this kimberlite to reach mineral
resource status.”
About Star Diamond Corporation
Star Diamond Corporation is a Canadian based corporation engaged in the acquisition, exploratio n and
development of mineral properties. Shares of Star Diamond trade on the Toronto Stock Exchange under the
trading symbol “DIAM”. Star Diamond holds, through a joint venture arrangement with RTEC (a wholly-owned
subsidiary of Rio Tinto), a 25% interest in certain Fort à la Corne kimberlites (including the Star – Orion South
Diamond Project) . These properties are located in central Saskatchewan , in close proximity to established
infrastructure, including paved highways and the electrical power grid, which provide significant advantages for
future mine development. Rio Tinto refers to their Fort à la Corne mineral properties as “Project FalCon”. During
2018, Star Diamond announced the positive results of an independent Preliminary Economic Assessment (the
“PEA”) on the Project. The PEA ( on a 100% basis) estimated that 66 million carats of diamonds could be
recovered in a surface mine over a 38 -year Project life, with a Net Present Value (“NPV”) (7%) of $2.0 billion
after tax, an Internal Rate of Return (“ IRR”) of 19% and an after- tax payback period of 3.4 years after the
commencement of diamond production (see news release dated April 16, 2018).
All technical information in this press release has been prepared under the supervision of George Read, Senior
Technical Advisor, a registered Professional Geoscientist in the Provinces of Saskatchewan and British Columbia
and Mark Shimell, Project Manager, a registered Professional Geoscientist in the Province of Saskatchewan,
who are Star Diamond’s “Qualified Persons” under the definition of NI 43-101.
Caution Regarding Forward-Looking Statements
This press release contains "forward -looking statements" and/or "forward -looking information" (collectively, "forward -
looking statements") within the meaning of applicable securities legislation. All statements, other than statements of
historical fact, are forward -looking statements. Forward -looking statements in this press release include, but are not
limited to, statements with respect to the Fort à la Corne project, potential announcements concerning data analysis and
exploration activities that have been underway by RTEC over the last two years , anticipated meetings, budgets and
programs of the Joint Venture Management Committee, expected programs and expenditures to be incurred by RTEC since
November 9, 2019, technical evaluations by RTEC, and the project's potential to be a significant contributor to both the
local communities and the broader Saskatchewan economy.
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These forward -looking statements are based on S tar Diamond's current beliefs as well as assumptions made by and
information currently available to each of them and involve inherent risks and uncertainties, both general and specific.
Risks exist that forward -looking statements will not be achieved due t o a number of factors including, but not limited to,
developments in world diamond markets, changes in diamond prices, risks relating to fluctuations in the Canadian dollar
and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration
results and changing budget priorities of RTEC or Star Diamond , the impact of changes in the laws and regulations
regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, operational
and infrastructure risks and the additional risks described in S tar Diamond's most recently filed Annual Information Form,
annual and interim MD&A.
Although the management of Star Diamond consider the assumptions contained in forward- looking statements to be
reasonable based on information currently available to them, those assumptions may prove to be incorrect. When making
decisions with respect to Star Diamond , investors and others should not place undue reliance on these statements and
should carefully consider the foregoing factors and other uncertainties and potential events. Star Diamond do es not
undertake any obligation to release publicly revisions to any forward-looking statement to reflect events or circumstances
after the date of t his release, or to reflect the occurrence of unanticipated events, except as may be required under
applicable securities laws. Investors should not assume that any lack of update to a previously issued forward -looking
statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors’
own risk.
For further information: [email protected] or (306) 664-2202
www.stardiamondcorp.com
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