09:09 AM EDT, 05/16/2024 (MT Newswires) -- Star Diamond ( SHGDF ) said Thursday that it has completed an estimate of the diamond valuation on three major kimberlite units within the Orion North kimberlite, part of the Fort a la Corne project in Saskatchewan.

Among highlights, the company said the estimate showed that diamonds found within the Early Jou Fou units of the K120 and K147/148 kimberlites have high modelled diamond prices ranging from US$212 to US$288 per carat. The two highest valued stones are weighing 6.89 carats with a value of US$3,519.00 per carat, and 7.50 carats with a value of US$3,520.00 per carat. These diamond parcels are too small (carats and stones) for rigorous diamond value estimates, it added.

Star Diamond ( SHGDF ) said that the diamond typing exercise showed the presence of high proportions of type IIa diamonds in all three of these Orion North kimberlites. The company said that type IIa diamonds are very rare and generally account for less than 2% of all natural rough diamonds mined worldwide from kimberlite deposits.

"The high diamond prices, uniquely high proportions of type IIa diamonds, combined with more than 500 million tonnes of diamond bearing kimberlite, suggest that the Orion North kimberlite cluster presents a rare opportunity of future evaluation," said George Read, Star Diamond's ( SHGDF ) senior vice president for corporate development.

The company's share price fell to $0.075 yesterday.