26 May 2019
DiamondWorld Directory
Home |
News
Home
Gibb River Diamonds’ Blina Diamond Project in Australia Now 'Shovel Ready'
GIB has submitted a bid for the former Ellendale Diamond Mine lease, currently under government control. Ellendale was the world's leading producer of fancy yellow diamonds, and in 2010 Tiffany & Co negotiated exclusive rights to the fancy stones for the full economic life of the mine.
By: Diamond World News Service
|
Dec 18 2018 12:09PM
|
Reference: 16866  

DecreaseIncrease
Blina Terrace 5 Diamonds
Blina Terrace 5 Diamonds

Gibb River Diamonds Ltd. (GIB), until recently known as POZ Diamonds, has received the necessary permitting for its Blina Diamond Project in the Ellendale Diamond Province of Wester Australia's Kimberley Region. The project consists of four granted mining and various exploration leases, and the company is already recovering high quality stones.

The company says they have defined numerous high grade targets using the latest in ground penetrating radar technology, and is conducting systematic bulk sampling at areas of alluvial gravel targets, which will lead to trial mining of the best grades. A diamond-bearing alluvial channel named Terrace 5 extends over 40km of the project area, and is 200 to 500m wide. The largest diamond recovered to date there weighed 8.43 carats, and the company says it commonly recovers high quality stones larger than two carats, with a significant number of Fancy Yellows, for which the region is famous. GIB has submitted a bid for the former Ellendale Diamond Mine lease, currently under government control. Ellendale was the world's leading producer of fancy yellow diamonds, and in 2010 Tiffany & Co negotiated exclusive rights to the fancy stones for the full economic life of the mine. Its previous owner, Kimberley Diamonds Ltd., ceased operations and left the property behind in 2015.

GIB believes the acquisition of the Ellendale lease would be "transformative" for the company, and believes the government might select a new operator in the second quarter of 2019. GIB Executive Chairman Jim Richards commented, "The core focus of Gibb River Diamonds is to initiate bulk sampling and trial mining operations at the Blina Diamond Project. With permitting to mine now in place, this next exciting phase of operations is now scheduled to commence at the end of the wet season early next year."

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Advertisement
M. Suresh234x60
Search News by City
Advertisement
Kosher 23460
Advertisement
HouseAd_Trade Fair
Recent Issue
2019
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
Spotted: Who Wore What (August 2018)
Pictures: 4
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 13770
GJEPC Chairman Interview
Views: 12624
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 19497
Promo for IJ Awards 2012 at NDTV Profit
Views: 32039
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 35122
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 10220
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 33458
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 31601
Advertisement
KGK_Antwepr
Advertisement
Big Sub-IJ/DW
Member of:
Supporter of: