STAR - ORION SOUTH DIAMOND PROJECT TECHNICAL UPDATE AND FUTURE OUTLOOK

About this update from Star Diamond Corporation

[{"type":"text","content":"\n \n \n \n STAR - ORION SOUTH DIAMOND PROJECT TECHNICAL UPDATE AND FUTURE OUTLOOK\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX: DIAM\n \n \n \n \n \n SASKATOON, SK\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /CNW/ - Star Diamond Corporation (TSX: DIAM) (\"Star Diamond\" or the \"Company\") is pleased to announce that, subsequent to the recently announced transaction with Rio Tinto Exploration Canada Inc. (\"RTEC\") whereby\n \n Star Diamond\n \n has agreed to acquire all of RTEC's interest in the Fort à la\n \n Corne Joint Venture\n \n ,\n \n Star Diamond's\n \n technical team is once again now focussed on the technical investigation and evaluation of the Star – Orion South Diamond Project, with the aim of a future development decision. The initial work aims to prepare a revised Mineral Resource estimate for the Star – Orion South Diamond Project, which will form the foundation of an updated Pre-Feasibility (\"PFS\") study.  The PFS study will enable a Feasibility Study, on which a production decision can be based.\n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n The\n \n revised Mineral Resource estimate\n \n for the Star and Orion South kimberlites will integrate Star trench cutter diamond data, adding improvement to the diamond size frequency curves for both kimberlites.\n \n \n The\n \n mitigation of risk in the Orion South diamond price estimate:\n \n the 2018 Preliminary Economic Assessment (\"PEA\") demonstrated that it is economically efficient to mine the Orion South kimberlite first. However, Orion South has a significantly smaller evaluation diamond parcel than Star, adding some risk to the diamond price estimate for Orion South. We believe there is opportunity to mitigate the risk in the Orion South diamond price estimate, without the necessity of additional bulk sampling to obtain a larger diamond evaluation parcel.\n \n \n The scoping of an\n \n updated PFS\n \n is scheduled to commence early in Q1 2024.\n \n \n These developments will likely give rise to the ability t...

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