Stornoway Diamond Corp. announced that it has found a 3.6-carat diamond, roughly half the size of a dime, at its property on the Melville Peninsula in Nunavut.

The gem, which was found in an 11.4-tonne sample, is the largest diamond found to date on Stornoway's Aviat project site, company officials said Monday.

Stornoway officials said they're encouraged by the 3.6-carat diamond they found in the Melville Peninsula in Nunavut.
(Courtesy Stornoway Diamond Corp.)

"It shows that these kimberlites can host large diamonds, and therefore it will help us in moving forward for next year, which will probably include a larger sample of these bodies," spokesman Nick Thomas told CBC News.

The gem was recovered from one of 11 "significantly diamondiferous" kimberlites — the volcanic rocks in which diamonds are formed — on the 2.2-million acre property.

The discovery means there is a possibility the company will find more large stones on the property, Thomas said. But before Stornoway looks at obtaining a larger sample, he said, the company wants to obtain final diamond results from 74 tonnes of the same kimberlite in which the gemstone was found.

Those results are expected in the next two weeks, he said.

Stornoway, a Vancouver-based exploration company, shares interest in the Aviat property with BHP Billiton — which owns the Ektai mine in the Northwest Territories — and the Hunter Exploration Group.