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Stornoway Diamond receives final environmental approvals

Stockhouse Editorial
0 Comments| July 16, 2013

Stornoway Diamond Corp. (TSX: T.SWY) has received a positive environmental assessment decision for its Renard Diamond project in the James Bay region of Quebec.

The Renard Diamond project, located approximately 350 kilometress north of Chibougamau, has probable mineral reserves of 17.9 million carats, with a further 17.5 million carats classified as inferred mineral resources.

According to the Stornoway Diamond press release, the project now has all of the major Quebec and federal government permits required to commence construction.

“With this latest milestone achieved, we look forward to the opening the Renard Mine Road later this year, which will make Renard the first fully-permitted diamond mining project in Canada with a permanent road,” said Matt Manson, Stornoway's President and CEO.

Stornoway is a diamond exploration and development company engaged in Canadian projects.

On Tuesday, Stornoway fell 2% and was trading at $0.51 a share. The company had a market cap of $71.8 million, based on 140.8 million shares outstanding.


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