Kimberley Diamonds finds diamond grades higher than expected from samples from Ellendale Mine
Kimberley Diamonds (ASX:KDL) has recovered bulk samples from the Ellendale Mine that
have averaged 3.6 carats per hundred tonnes, greater than previous grade of 2.55
Two bulk samples from the Far East Pit have recovered 1,060 carats at an average grade of 3.57 cpht.
The samples were treated through the E9 East production process plant and independent valuations were carried out by Independent Diamond Valuers Pty Ltd.
The current plan, based on available information at the end of 2012, is to mine 875,000 tonnes of ore containing an estimated 22,900 carats from FEP this calendar year.
The two bulk samples indicate an increase in expected grades, which may potentially lead to an increase in the ore that can viably be mined from FEP.
Two further bulk samples are planned for the coming months.
For five consecutive months rough diamond prices have risen and they are now at the highest level for almost two years.
It is predicted by some analysts that polished diamond prices will soon show a similar recovery as consumer confidence returns to the 'high end' luxury market.
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