Quebec's first diamond mine may see delays
Despite recent reports saying that Québec's first diamond mine, being developed by Stornoway Diamond (TSX: SWY), will see the light by the expected 2015 deadline, new data suggests that the construction of the Route 167 extension from Chibougamau to the Otish Mountains may be delayed.
According to the Montreal Gazette (TSX: SWY) construction has progressed well, but it remains unknown whether the expansion can be completed in the next year.
Stornoway’s Renard Project, considered a world-class asset, is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of North-Central Québec.
It contains probable mineral reserves pegged at 18.0 million carats representing, 23.0 million metric tons at an average grade of 78 carats per hundred metric tons at a cash cost of $180 per carat.