Vancouver-based Stornoway Diamond has filed a notice of intent for its Renard diamond project in north-central Quebec,. Mining Weekly reported.

The notice process, however, is expected to take between 18 and 24 months. Stornoway Diamonds owns 50% of the Renard project. The remaining 50% are held by the Quebec government-run Soquem.

The notice of intent is meant to give the area's provincial administrator, which is also the environmental protection regulator, a full outline of the future project, in order to allow for the provision of the necessary directives for Stornoway Diamond's subsequent social and environmental impact assessment.

The company will also have to submit to a federal assessment, in accordance with the Canadian Environmental Assessment Act.

A revised preliminary assessment on the project, based on a recently updated mineral resource estimate, is expected to be completed by the end of Q1-2010, Stornoway said. The new study will incorporate a revised conceptual mine plan, updated capital and operating costs, and revised estimates of project economics.