Key points
- Diamond Fields Resources is continuing discussions with TMH Acquisition Co. on advancing the Beravina project under their May 16, 2019 agreement.
- The co-operation agreement was extended on Nov. 11, 2019 to May 31, 2020 without financial penalty due to delays in the work program.
- A drilling program of 13 diamond core holes totaling 906.16 metres was completed on the Beravina deposit.
- Beravina carries an NI 43-101 inferred resource of 1.5 million tons at 22.7 per cent zircon equivalent, or 15.3 per cent ZrO2.
Diamond Fields Resources Inc. is continuing discussions with TMH Acquisition Co. concerning the further advancement of its Beravina project pursuant to the agreement with TMH entered into on May 16, 2019. The co-operation agreement was extended, on Nov. 11, 2019, to May 31, 2020, without financial penalty due to various delays in the implementation of the intended work program, which were previously reported (see the company’s press release dated Nov. 11, 2019). An announcement will be made by the company once these discussions are complete.
In addition, a program of drilling was concluded. A total of 13 diamond core drill holes, aggregating 906.16 metres of drilling, was completed on the Beravina deposit. The results from TMH and its technical advisers will be announced by the company shortly.
About Beravina
The Beravina project is a hard rock zircon deposit with a National Instrument 43-101 inferred mineral resource estimate of 1.5 million tons at 22.7 per cent zircon (ZrSiO4) equivalent to 15.3 per cent ZrO2.
About Diamond Fields Resources Inc.
Diamond Fields is an exploration and mine development company with assets in Madagascar and Namibia.
