Diamond Fields Resources Inc.’s initial mining campaign on its ML111 licence area offshore Namibia has successfully concluded, as expected. A second parcel of diamonds recovered from ML111 as part of this initial campaign phase will be shipped in due course.
Final production figures for the initial campaign will be announced following government evaluation and verification of production.
The company and the operators will undertake a review of initial operational and financial performance following the sale of the diamond parcels, which is expected in the first quarter of 2019. The six-month (non-continuous) mining program on ML111 is thereafter expected to recommence later in 2019.
As previously announced on Dec. 20, 2018, an initial shipment of a 25,151.60-carat parcel of diamonds (gross weight unpolished rough diamonds as endorsed in the relevant Kimberley process certificate) were recovered from the ML111 licence during the first 25 days of mining, between Nov. 11, 2018, and Dec. 5, 2018. The shipment is undergoing independent valuation and initial sorting in preparation for sale through International Mining and Dredging Holdings Pty. Ltd., which is operating the campaign on behalf of Diamond Fields Resources through its subsidiary, Nutam Operations Pty. Ltd.
Diamond Fields Resources is a TSX Venture Exchange-listed exploration and mine development company with assets in Madagascar and Namibia. In Madagascar, Diamond Fields Resources is developing the Beravina project, an advanced high-grade hard-rock zircon exploration prospect located in the west of the country, approximately 220 kilometres east of the port of Maintirano and near a state road. In Namibia, International Mining and Dredging Holdings is undertaking an initial six-month (non-continuous) offshore diamond mining program on Diamond Fields Resources’ ML111 licence area. The ML111 concession has a 10-year mining licence, effective until Dec. 4, 2025, and lies within Luderitz Bay between Diaz Point in the south and Marshall Rocks in the north and at depths of 15 metres to 70 metres.
