Gibb River Diamonds Limited (GIB) recently announced that it has acquired  the  leases over the Ellendale Diamond Mine and Project area, located in the West Kimberley region of Western Australia (WA).

“GIB has been invited by the Honourable Bill Johnston, WA Minister for Mines to apply for various GIB nominated mining leases at Ellendale under an EOI process run by the State Government,” the Company said in a statement. “GIB has confirmed with the Minister that it will apply for these tenements.”

The Company added: “This application process is currently underway with two exploration licenses already pegged to secure tenure over the two hard rock mines at E4 and E9 and all of the previous extensive alluvial mines and prospects.”

GIB has said that other mining and prospecting lease applications will follow (pending contract surveyors), to cover all of the ground GIB considers to be prospective at Ellendale.

“The Ellendale Project has been one of the world’s foremost diamond producers with past production of approximately 1.3 million carats,” GIB said. “This included the annual supply of over 50% of the world’s Fancy Yellow diamonds, which were the subject of a special marketing agreement between the former operator and Tiffany & Co.”

While the acquisition delivers GIB leases over the Ellendale Diamond Project “through the pegging of standard mining leases”, it “brings with it no environmental or other legacy liabilities”, the Company clarified.   

“GIB now owns these leases outright, covering most prospective diamond bearing ground in Australia and with no private royalties,” the Company confirmed. “This magnificent opportunity allows the Company to develop this exciting area with its huge potential and move towards our goal of becoming Australia’s next diamond producer.”

GIB is now considering options for future diamond production at Ellendale and has said it will update the market as this analysis progresses.

Pic Cap: GIB Executive Chairman Jim Richards at the E4 pit  

Pic Courtesy: Gibb River Diamonds Limited