Maiko Sell reports that the process of exploring for diamonds is actually exploration for the host rock that carried the diamonds to the surface kimberlite. Kimberlite is a volcanic rock that occurs in diatremes, or narrow volcanic pipes. It may also occur in vertically oriented narrow sheets, or dikes. Once a kimberlite is found there is no guarantee that economic grades of diamonds, or any diamonds at all will be found, but it is a good start.
Diamond exploration may be broken down into three general stages - Early Exploration, Targeting, and Evaluation. When each stage is successful, the end result is generally a pre-feasibility study which outlines, in considerable detail, the design of the mine together with the sequence of ore extraction. Pre-feasibility studies consider the optimization of cash flows over the life of the mine. Of course, there is usually a long time between early exploration and potential mine feasibility.