The diamond, making approximately 80 that he has found since moving to Arkansas, is the second largest found this year. In June a Louisiana man found a 4.8 carat diamond.

http://www.craterofdiamondsstatepark.com

Eira Thomas, Stornoway’s chief executive officer, said the valuation of the bulk sample marks a key milestone for Renard, which is believed to contain between 17 million and 21 million carats. “We’re really pleased with the results of the bulk sample and the valuation because they have shown that Renard is going to be a producer of large high quality gem stones,” Ms. Thomas said in an interview.

At a reception in Toronto, Ms. Thomas showed off some of the best stones from the bulk sample, including a 15 carat diamond and a 10 carat stone.

A geologist by training, the Stornoway CEO rose to prominence more than a decade ago with her involvement in the discovery of the renowned Diavik Mine in the Northwest Territories, now owned by Rio Tinto PLC and Canada’s Aber Diamond Corp. Roughly a fifth the size of Diavik, Ms. Thomas said Renard is looking more and more as though it will prove an economically viable diamond mine and the first for the province of Quebec.

With a recently added separate royalty added to diamonds mined in Ontario, the find in Quebec may lead to a more profitable mining operation while providing a much needed source of diamonds for a growing trend in buying Canadian diamonds in an effort ot avoid purchasing “Blood Diamonds”.

Dr Kevin Wills, from Flinders Diamonds, says part of the problem is government red tape, and a lack of interest from local investors. “The Australian discoveries were way back in the 1970s, the main ones at Ellendale and Argyle,” he says. “… We really need a new discovery in Australia and that will stimulate a lot of activity”.