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Dominion Diamond Corporation Reports Diavik Diamond Mine Second Calendar Quarter Production

by pmnationtalk on July 19, 201652 Views

July 18,2016

YELLOWKNIFE, Northwest Territories – Jul. 18, 2016– Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) reports Diavik Diamond Mine production results for the second calendar quarter of 2016:

Diavik Diamond Mine Production (100% basis)

Q2
2016
Q1
2016
Q4
2015
Q3
2015
Q2
2015
Q1
2015
Q4
2014
Q3
2014
Tonnes Processed (millions)0.540.560.460.480.560.480.510.56
Carats Recovered (millions)1.581.881.501.272.141.501.541.67

Processing volumes in the second calendar quarter of 2016 were 5% lower than in the same quarter of the prior year due to lower ore availability.

Diamonds recovered in the second calendar quarter of 2016 were on plan, and were 26% lower than in the same quarter of the prior year. The difference from the prior year is a result of lower processing volumes and lower recovered grades.

The development of the A-21 pipe continues to progress according to plan.

As previously disclosed, the Diavik Diamond Mine full-year production target (on a 100% basis) is expected to be approximately:

Run of Mine Production – Calendar 2016

Diavik Diamond Mine (100% basis)

Tonnes Mined
(millions)

Tonnes Processed
(millions)
Carats
(millions)
Mine Plan for Calendar 20162.22.27.1

Mining activities will be exclusively underground and ore will be sourced from the following kimberlite pipes in the approximate amounts noted below:

Diavik Kimberlite Pipes (100% basis)Tonnes Processed
(millions)
A-154 South0.6
A-154 North0.7
A-4180.9

In addition to the 7.1 million carats produced from run of mine ore, there will be a small amount of production from Coarse Ore Rejects (“COR”). This additional production is not included in the Company’s ore reserves, and is therefore incremental. Based on historical recovery rates, the tonnage of this material that is planned to be processed during calendar 2016 would produce 0.1 million carats from COR.

The aforementioned mine plan for the Diavik Diamond Mine was prepared and verified by Diavik Diamond Mines (2012) Inc. (“DDMI”), operator of the Diavik Diamond Mine, under the supervision of Calvin Yip, P. Eng., Principal Advisor, Strategic Planning of DDMI, and a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.

Diavik Diamond Mine Production 40% basis

For the three months ended June 30, 2016For the three months ended June 30, 2015
PipeOre Processed
(000s tonnes)
Carats
(000s)
Grade
(carats/tonne)
Ore Processed
(000s tonnes)
Carats
(000s)
Grade
(carats/tonne)
A-154 South571642.85562404.30
A-154 North641462.29671512.25
A-418923083.331024614.51
COR1140.14
Total2146322.89 (a)2258563.78 (a)

(a) Grade has been adjusted to exclude COR

For the six months ended June 30, 2016For the six months ended June 30, 2015
PipeOre Processed
(000s tonnes)
Carats
(000s)
Grade
(carats/tonne)
Ore Processed
(000s tonnes)
Carats
(000s)
Grade
(carats/tonne)
A-154 South1063062.881004124.11
A-154 North1353122.321402852.04
A-4181957383.791757294.17
COR130129
Total4371,3863.11 (a)4161,4553.43 (a)

(a) Grade has been adjusted to exclude COR

About Dominion Diamond Corporation
Dominion Diamond Corporation is the world’s third largest producer of rough diamonds by value. Both of its production assets are located in the low political risk environment of the Northwest Territories in Canada where the Company also has its head office. The Company is well capitalized and has a strong balance sheet.

The Company operates the Ekati Diamond Mine and also owns 40% of the Diavik Diamond Mine. Between the two mining operations, diamonds are currently produced from a number of separate kimberlite pipes providing a diversity of diamond supply as well as reduced operational risk. It supplies premium rough diamond assortments to the global market through its sorting and selling operations in Canada, Belgium and India.

For more information, please visit www.ddcorp.ca

Source: Dominion Diamond Corporation

Dominion Diamond Corporation
Ms. Kelley Stamm, 416-205-4380
Manager, Investor Relations
kstamm@ddcorp.ca

NT3

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