Key points
- The Marshall Fork resource estimate totals 914,600 carats, comprising 364,900 carats indicated and 549,700 carats inferred.
- The estimate is based on 247 samples taken by De Beers Marine and represents nearly a threefold increase over the previous Marshall Fork estimate.
- The Marshall Fork feature’s estimated size was revised to 1.0 million square metres with an average sediment thickness of 1.3 metres.
- Total resource estimates across Diamond Fields’ Luderitz concessions now exceed two million carats, following Phase 3 reconnaissance sampling focused on the Boat Bay gravel feature.
Diamond Fields International has received an independent resource estimate from
MRDI, a division of Agra Simons, for the main Marshall Fork feature on its
100-per-cent-owned sea diamond concessions near Luderitz, Namibia. The new resource
estimate contains 364,900 carats in the indicated category and 549,700 carats
in the inferred category for a total of 914,600 carats representing nearly a
threefold increase over the previous resource estimate for the Marshall Fork
feature. The resource estimate is based on the results of 247 samples taken
in the Marshall Fork feature area by De Beers Marine as part of Diamond
Fields’ advanced sampling program. The new resource estimate is based on a
revised estimated size of the Marshall Fork feature of 1.0 million square
metres with an average sediment thickness of only 1.3 metres. In addition to
geological information collected, environmental baseline data to support an
eventual mining operation was also collected by De Beers Marine on behalf of
DFI. All sampling activities have taken place under environmental management
plans approved by the government of Namibia.
Management believes the resource will support a profitable mining
operation at Marshall Fork. The resource estimate is part of a scoping study
undertaken by Agra Simons for an initial mining operation at Marshall Fork.
Further findings of the scoping study will be released upon receipt later this
week and subsequent review by Diamond Fields.
Total resource estimates from Diamond Fields’ Luderitz concessions now
total over two million carats. Phase 3 reconnaissance sampling work has just
been completed with a primary focus on the Boat Bay gravel feature. New
resource estimates from this work will be released upon receipt of final data
from De Beers Marine and review by Diamond Fields.
Diamond Fields’ goal is to become a significant, independent diamond
producing company delivering maximum shareholder value in a socially and
environmentally sound manner. Management believes that, with the initial
results from the sampling program and continuing activities, the company is now
well on its way to achieving this goal. With total resource estimates of over
two million carats, there is strong growth potential beyond Marshall Fork.
DFI resource estimates
Feature Area Indicated Inferred Total
Marshall
Fork 364,900 549,700 914,600
Diaz Reef
features 524,200 81,100 605,300
Staple basin
area 150,700 73,800 224,500
Shallow
Waters – 276,000 276,000
Totals 1,039,800 980,600 2,020,400
DFI’s resource estimates for the Marshall Fork feature were compiled by
MRDI, a division of Agra Simons, (senior author and qualified person: M.
Thurston, Phd) based on sampling data provided by the company and using the
resource classification in accordance with the Toronto Stock Exchange guide
lines and the Australasian code for reporting of mineral resources and ore
reserves (JORC, 1999). De Beers Marine under contract to DFI conducted the
sampling on the Marshall Fork feature in 1998 and 1999. The MRDI estimate of
the inferred resource category includes 516,900 carats attributable to the
suspected bias of the sampling tool. The remaining resource estimates are
those previously published by DFI. These estimates were compiled by marine and coastal geoconsultants cc of CapeTown, RSA (senior author and qualified
person: R. DeDecker, MSc, PrSciNat).
