Diamond Fields Resources Inc. has provided an update on activities at its Beravina zircon project, Madagascar, following the conclusion of the co-operation agreement with TMH Acquisition Co. on May 16, 2019.
Pursuant to the agreement, TMH was granted an option to acquire the project for an upfront payment of $250,000 (U.S.) and a commitment to finance the next stage of exploration and development work on Beravina. The 2019 work program, which has been prepared by TMH, includes a planned drill program comprising 14 drill holes. Some of the drilling will be confirmatory in nature, while other holes are designed to test extensions to the known mineralization. TMH will also be undertaking further market testing, metallurgical and process design work.
Following approval of the proposed drilling program by the Madagascan Ministry of Mines and Strategic Resources, the Office National pour l’Environnement (ONE) required an environmental impact assessment covering the drilling program. Diamond Fields Resources supported TMH through the related processing and has submitted the required environmental impact assessment to ONE for approval. As part of the process, ONE has organized public consultations with the communities around the impacted areas and is currently in the final stages of the environmental impact assessment permitting process. Once approved, this environmental impact assessment can form the basis of a more detailed work that will underpin the development of the Beravina project.
The company will provide further updates on progress at Beravina upon approval of the environmental impact assessment and the commencement of drilling.
About Diamond Fields Resources Inc.
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 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 Pty. Ltd. is undertaking an initial six-month (non-continuous) offshore diamond mining program on Diamond Fields Resources’ ML 111 licence area.
