Diamond Fields International Ltd.’s preliminary results from the 2007 marine sampling program undertaken by Bonaparte Diamond Mines NL in the ML111 joint operations (JO) area (offshore Namibia) show a 68-per-cent increase in the number of samples with positive diamond recovery, as compared with the previous year’s program. The number of positive samples in which more than one diamond was recovered (multiple diamond samples) also increased by 85 per cent over the 2006 operations. The company is also pleased to report improved production results in Namibia from its mining vessel, the MV DF Discoverer, coming out of the winter months.
2007 sampling program
A total of 451 diamonds weighing approximately 160 carats were recovered from the 290 positive samples during the recently completed 2007 JO sampling program. The preliminary results are provided in a results table herein and recoveries will be adjusted if necessary after final processing of the samples at the onshore facility in Luderitz.
COMPARATIVE SAMPLING RESULTS IN ML 111 JO AREA
Total No. of % of Multiple % of multiple No. of Carats Avg. size
No. of positive positive diamond diamond diamonds (estimate) ct/stone
samples samples samples samples samples
2007 668 290 43% 106 16% 451 160 0.36
2006 547 146 27% 47 9% 291 136 0.47
—- —-
% difference +63% +85%
The program was undertaken at Bonaparte’s expense using the De Beers-owned dedicated diamond sampling vessel MV Douglas Bay on a sampling grid of approximately 50 metres by 40 metres with an average footprint size of approximately 2.1 metres per sample in sediments up to four metres thick. Gravel in size ranging from plus 1.5 millimetres to minus 12 millimetres were screened out for processing and diamond recovery. The design of the program will enable estimation of indicated resources in terms of National Instrument 43-101.
Mining of the 63,000-carat indicated resource defined in the 2006 sampling program in the original JO area has been continuing since commencement in January, 2007.
DFI’s president and chief executive officer, Roger Daniel, commented: “We are delighted with the strong results from the Bonaparte joint operation sampling operations which have identified seven new diamond deposits which will support joint mining operations through 2008/2009. We expect these newly defined areas will be incorporated in the JO production plans early in 2008 to increase current production levels. The recent sampling program covered approximately 24 per cent of the expanded JO area of 10.8 kilometres and we anticipate further increases to the mining resource base with future development work in this area.”
Diamond sales and October marine diamond production
The sale of the latest parcel of 1,889 carats from the JO marine mining operations in offshore Namibia resulted in gross revenue of $388,303 (U.S.) at an average price of $205.55 (U.S.) per carat. Total JO sales for production up to Oct. 21, 2007, amount to 17,455 carats sold for $3,799,772 (U.S.) in total revenue at an average price of $217.69 (U.S.) per carat.
Coming out of the winter months, diamond production continued to improve in October, 2007, with recovery of 4,864 diamonds weighing 1,894 carats. Production in September, 2007, was 1,618 carats. Total production from the JO area to Oct. 31, 2007, is 42,827 diamonds weighing 18,139 carats at an average size of 0.42 carat per stone.
Roger Daniel, BSc (honours) geology, London, PrSciNat, the company’s president and chief executive officer, who is a fellow of the South African Institute of Mining and Metallurgy (SAIMM), is also a registered geological scientist with the South African Council for Natural Scientific Professions (SACNASP), and is thus a qualified person in terms of National Instrument 43-101, has compiled and reviewed the scientific and technical information contained in this news release.
