Afri-Can Marine Minerals has discovered a significant number of diamonds from the reconnaissance sampling program of the block J marine diamond concession in Namibia.
De Beers Marine completed the sorting of 338 samples and recovered 23 gem-quality diamonds, weighing a total of 4.65 carats, of which the largest stone weighed 0.64 carat. These samples were collected from 17 features of which eight proved to carry diamonds. The samples were collected from 29 anchor spreads over a sea-floor area of 728 square metres. Each sample is a combination of three drill holes covering an area of 0.7 square metre, for a total of 2.1 square metres per sample.
Also recovered were important quantities of minerals associated with diamonds, such as garnets, agates, epidosites and banded ironstones. A total of 14 diamonds were collected from features No. 6 and No. 8, with six of the stones being larger than 0.30 carat. Significantly, two of the samples from these features recovered more than one diamond, indicating that in places the diamonds have been concentrated. These two features, each of which exceeds two million square metres in area, could possess considerable potential resulting from the average size of the diamonds: 0.25 carat for feature No. 6 and 0.28 carat for feature No. 8 (R.W. Foster, Afri-Can’s independent consultant, Feb. 6, 2002).
Summary of results as reported by De Beers Marine
Sample ID Carats Sample ID Carats
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F01-01-01 0.10 F07-03-01 0.08
F02-01-11 0.07 F08-04-05 0.26
F06-02-12 0.17 F08-04-05 0.14
F06-03-02 0.31 F08-04-06 0.09
F06-03-02 0.19 F08-04-11 0.64
F06-04-07 0.32 F13-01-04 0.09
F06-04-09 0.14 F13-02-04 0.13
F06-04-10 0.16 F14-01-04 0.10
F06-06-01 0.34 F17-01-11 0.10
F06-06-02 0.31 F17-04-01 0.16
F06-06-08 0.19 F17-05-13 0.25
F06-06-09 0.31
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The corporation is most encouraged by the results of this initial sampling program. In particular, the diamonds collected from features No. 6 and No. 8 demonstrate the potential for further development. Feature No. 6 is a classic feature found on the inner shelf, typical of those from which companies are producing diamonds along the coast of Namibia.
Feature No. 8 is of a different nature as it is situated on the middle shelf where at this time only Namdeb (joint venture between De Beers and the Namibian government) is producing diamonds.
In addition, the gravels found in feature No. 8 contain the “classic Orange River suite of exotic minerals” such as garnets, jaspers, agates and others, which, in such anomalous quantities, are all important indicators of the presence of diamonds. The results of earlier geophysical surveys suggest that there might be extensions of these two features that were not tested by the sampling, amounting to about 25 square kilometres, however, the diamond potential of these untested areas is not known (R.W. Foster, Afri-Can’s independent consultant, Feb. 6, 2002).
Further analyses of the samples are under way in order to provide more information and to delineate the significance of the discoveries. Afri-Can’s consultants will also establish further work programs and shareholders will be kept advised of developments.
Block J is the subject of a joint venture between Afri-Can and Woduna Mining Holding (Pty.) Ltd. in terms of which Afri-Can has the right to acquire a controlling interest of 70 per cent. Actually, Afri-Can owns 50 per cent of the concession.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
