Afri-can: Geophysical Survey Delineates New Targets on Epl 3403 Marine Diamond Concession

Afri-Can Marine Minerals Corp. has completed its analysis and interpretation of the geophysical survey on exclusive prospecting licence (EPL) 3403 marine diamond concession in Namibia.

Survey analysis highlights are:

Survey covered 123 square kilometres or 15 per cent of EPL 4303;

Sediment thickness to bedrock can be sampled on 77 per cent of the surveyed

area;

Delineation of a second deeper gravel horizon;

Delineation of a new 18-square-kilometre prospecting target that are

typical of diamond-enrichment zones in the vicinity of EPL 3403.

Survey covered 123 square kilometres or 15 per cent of EPL 4303;
Sediment thickness to bedrock can be sampled on 77 per cent of the surveyed

area;

Delineation of a second deeper gravel horizon;
Delineation of a new 18-square-kilometre prospecting target that are

typical of diamond-enrichment zones in the vicinity of EPL 3403.

The geophysical survey completed in May, 2012, has recovered a total of 1,519 line kilometres of high-resolution Sparker and TOPAS seismics, as well as 480 line kilometres of multibeam echosounder data. The survey covered approximately 123 square kilometres in the south end of EPL 3403, representing 15 per cent of the concession area, which measures 800 square kilometres. Notably, 94.7 square kilometres or 77 per cent of the 123 square kilometres show a sediment thickness over bedrock footwall of less than 10 metres, which is well within the penetration parameters of the sampling tool of the MV DP the Explorer, recently contracted for the upcoming sampling program.

The geophysical survey covered depositional areas 1, 2 and 3 delineated following previous sampling programs as well as new target areas.

The key points of the analysis are as follows:

Area 1 covers approximately 2.81 square kilometres. The area hosts

several volcanic intrusions that have produced an irregular terrain,

which contains layers of diamondiferous gravels. Influenced by the

terrain created by the volcanic intrusives, the diamondiferous gravel

thickness is irregular and is generally covered by three to five metres of

overburden. Previous sampling programs enabled 26 diamonds to be

extracted, with an average size of 0.56 carat per stone. Several

diamonds have been extracted in a tight grid showing potential

concentration, and area 1 represents good potential for the development

of a mineral resource.

Area 2 covers approximately 6.91 square kilometres, and contains five newly outlined features including part of a channel approximately eight kilometres in length and forming a deeper depression in the central

area. The survey has shown that the banks on the east side of the

depression host two distinctive gravel horizons in places. Most of the

diamonds from previous sampling programs were recovered in the upper

horizon. However, at the end of the previous sampling, two diamonds were

recovered from the deeper horizon identified from the recently collected

seismic data. Previous sampling programs enabled 29 diamonds to be

extracted, with an average size of 0.49 carat per stone. Several

diamonds have been extracted in a tight grid showing potential

concentration, and area 2 represents good potential for the development

of a mineral resource.

Target 1, named Ridges, covers approximately 18 square kilometres

along the eastern boundary of the concession, and shows a series of

bedrock ridges that are typical of diamond-enrichment zones in the

vicinity of EPL 3403 and elsewhere along the Namibian coast. The target

represents a strong potential for exploratory sampling.

Area 1 covers approximately 2.81 square kilometres. The area hosts