Key points
- The three-phase program will collect approximately 393 samples of 10 square metres each and six bulk samples of 100 square metres each, covering 4,530 square metres of sea floor.
- Phase 1 targets Feature No. 6 with 109 local samples and three bulk samples, and Phase 2 targets Feature No. 8 with 105 local samples and three bulk samples.
- Block J covers 994 square kilometres, measuring approximately 45 kilometres by 21 kilometres, in water depths of 70 to 167 metres about 105 kilometres north of Luderitz.
- Afri-Can currently owns 50 per cent of the block J joint venture with Woduna Mining Holding (Pty.) Ltd. and has the right to acquire a controlling 70 per cent interest.
Afri-Can Marine Minerals has completed the design of its follow-up sampling program for the block J marine diamond concession, situated 105 kilometres north of Luderitz in Namibia.
The sampling program will be focused on the delineation of inferred and indicated resources on the most prospective features of the block J. The sampling will be deployed in three distinctive phases that are designed for the collection of approximately 393 samples of 10 square metres each and six bulk samples of 100 square metres each. The complete program will entail the collection and treatment of gravels from 4,530 square metres of sea floor. The main goals of the program are as follows:
to establish sufficient quantitative data to support an inferred resource (the resource will be calculated in accordance with the SAMREC Code for estimation of mineral resources);
to establish preliminary data on mining economics;
to determine the local extent and continuity of mineralization; and
to gain information on the details of mineralization over a limited area, and to determine potential mining economics within such area.
The three phases will be as follows:
Phase 1
Feature No. 6: local sampling
109 samples of 10 square metres each
3 bulk samples of 100 square metres each
Phase 2
Feature No. 8: local sampling
105 samples of 10 square metres each
3 bulk samples of 100 square metres each
Phase 3
Paleo-Surf zone:
regional sampling (depending on the
availability of the contactors,
phase 3 will be carried with
the current program or in a
further sampling phase)
179 samples of 10 square metres each
Afri-Can is currently in negotiation with contractors and the contract should be awarded before the end of June, 2002. The sampling schedule will be determined with the contractor and shareholders will be kept advised of developments.
Block J covers an area of 994 square kilometres measuring approximately 45 kilometres long by 21 kilometres wide in water depths ranging from 70 to 167 metres. The concession lies on the northern boundary of the known rich diamondiferous deposits currently being mined along the south and central Namibian West Coast. To the south of the project, an inferred resource exceeding four million carats has been estimated for the region between Halifax and Mercury Islands (Marine & Coastal, June 6, 2000).
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. Currently, Afri-Can owns 50 per cent of the concession.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
