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Mining Explorers 2014: Dominion Diamond Corp.

 

Last updated 11/2/2014 at Noon



DDC: TSX / NYSE

Chairman and CEO: Robert Gannicott

Chief Operating Officer:

Chantal Lavoie

Executive Vice President, Community Affairs: Brendan Bell

Dominion Diamond Corporation mines rough diamonds at the Ekati and Diavik mines, both located in Northwest Territories about 300 kilometers (190 miles) north of Yellowknife.

The company operates the Ekati Diamond Mine through an 80 percent ownership of the project's Core zone as well as a 58.8 percent ownership in the Buffer zone.

In July, Dominion Diamond Corp. announced that the Misery Satellite, previously considered an exploration target at Ekati, had been upgraded to deposit with an inferred resource of 3.9 million metric tons grading 1.3 carats per metric ton, or 5 million carats.

Following analysis of the previous winter's drilling, Dominion Diamond is preparing an updated technical report on the mineral resources and mineral reserves at Ekati that will include further details on the Misery Satellite resources as well as updates to some other pipes.

The company expects to file this updated technical report in the later part of calendar 2014.

Stripping of waste material is in progress at Misery open pit with expected full year production from the Misery Main Pipe in the company's fiscal year 2016 and completion of mining in fiscal 2018.

Dominion Diamond Corp. also owns a 40 percent in the Diavik Mine. A subsidiary of London-based Rio Tinto plc, Diavik Diamond Mines Inc., owns the remaining 60 percent and operates the high-grade diamond mine. The three kimberlite pipes currently being mined, A154 South, A154 North, and A418, are small in diameter by global comparison, but are very high grade, with some of the world's highest per ton ore value. At the end of 2012, the Diavik Mine had 52.5 million carats of proven and probable reserves. The current mine plan is expected to take the mine's production to at least 2022.

The Lac de Gras joint venture property, located roughly 10 kilometers (six miles) south of Ekati and less than 40 kilometers (25 miles) southeast of Diavik, is an exploration project that covers kimberlite trends from both mines. Dominion Diamond Corp.'s Lac de Gras property covers 32,780 hectares and is contiguous with a 91,459-hectare property held by North Arrow Minerals Inc. Under the terms of an agreement between Dominion Diamond and North Arrow, the two adjacent parcels are to be joined to form a joint venture property.

Cash and restricted cash deposits: US$383.9 million (July 31, 2014)

Working capital: US$615.3 million (July 31, 2014)

Market capitalization: US$1.15 billion (Sept. 26, 2014)

P.O. Box 4569, Station A

Toronto, Ontario M5W 4T9

Tel: 416-362-2237

Fax: 416-362-2230

http://www.ddcorp.ca

 

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