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Star - Orion South Diamond Project Positive Environmental Decision From Federal Minister of Environment
Stock Symbol: SGF: TSX SASKATOON , Dec. 3, 2014 /CNW/ - The Canadian Environment Asse...
About this update from Star Diamond Corporation
[{"type":"text","content":"\n\nStock Symbol: SGF: TSX\n\n\n\nSASKATOON, Dec. 3, 2014 /CNW/ - The Canadian Environment Assessment Agency (\"CEAA\") has announced an Environmental Assessment Decision for Shore Gold Inc.'s (\"Shore\" or the \"Company\") Star-Orion South Diamond Project (\"the Project\").  The Honourable Leona Aglukkaq, Environment Minister, announced that the Project \"is not likely to cause significant adverse environmental effects when the mitigation measures described in the Comprehensive Study Report are taken into account\". Full text of the announcement can be found at http://www.ceaa-acee.gc.ca/.  \n\nGeorge H. Read, P. Geo., Senior Vice President Exploration and Development states: \"This Federal decision marks a major positive milestone in the development of a world-class diamond mine in Saskatchewan. This milestone is the result of significant work and effort by our technical team and consultants and represents our commitment to our stakeholders and the community surrounding the Project.\"\n\nThe Project is located in central Saskatchewan approximately 60 kilometres east of the city of Prince Albert. The Project is in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The NI 43-101 compliant Technical Report on the Feasibility Study and Updated Mineral Reserve for the Project dated July 14, 2011 provided an updated Mineral Reserve Estimate for the Star and Orion South kimberlite deposits:  Probable Mineral Reserves of 279 million tonnes containing 34.4 million carats of diamonds at a weighted average price of US$242 per carat, that can be profitably mined over 20 years. In addition to the Mineral Reserve Estimate, the Star and Orion South Kimberlites have been estimated to include Inferred Resources containing 15.7 million carats.\n\nThe Project includes a four-year construction period followed by the excavation of two open-pit mines and processing of approximately 45,000 tonnes of kimberlite rock per day over a projected 20-year period. Shore's plans for decommissioning include progressive reclamation activities beginning within five years from the start of construction and will continue beyond the operations phase of the Project.\n\nIn March 2014 an estimate was made of the Target for Furt...