Key points
- In feature 13 at the Hottentot Bay grant, 46% of samples were diamondiferous and 33% of those contained multiple diamonds, with an average size of 0.26 carats per stone.
- Concession 12b in South Africa yielded a parcel of 46.33 carats at an average stone size of 0.99 carats, valued at US$300 per carat.
- Royal Boskalis is supplying a 30 ton sea swell compensator unit to the Namco 1 vessel for US$500,000, paying 75% of the cost, with installation scheduled for September 29 to October 1.
- Namco holds 5,500 square kilometres of marine diamond concessions off Namibia and South Africa, the second largest marine concession area in Namibia.
The current US$10 million bulk sampling program has confirmed the presence of gem quality diamonds in the company’s three marine diamond concessions.
Systematic 10 square metre samples are now being taken in the Saddle Hill area of the Hottentot Bay grant off the coast of Namibia. Two substantial geological features (No. 8 and No. 13) covering 11 square kilometres have so far been tested with more than 60 bulk samples being taken in these features. The results obtained to date have exceeded the upper limit of those predicted in the independent consultants’ geological model.
In feature 13 the results continue to exceed expectations with 46% of the samples being diamondiferous and 33% of those containing multiple diamonds. The average size is above predictions at 0.26 carats per stone.
The initial samples, previously reported, obtained from concession 12b, South Africa – a parcel of 46.33 carats with an average stone size of 0.99 carats have been valued at US$300 per carat. The Namco 1 bulk sampling vessel will be returning to this concession after completion of the Namibian programme.
The company’s operators Royal Boskalis are providing a sea swell compensator unit to Namco 1 at a cost of US$500,000 of which Boskalis will pay 75%. As a result, operational productivity will be improved, thus speeding the bulk sampling process. Installation of the 30 ton unit is scheduled for September 29th to October 1st.
The company is very encouraged by its diamond recovery results to date.
Exploration work is continuing on the company’s onshore Orange River concession in Namibia where geophysics has identified a significant palaeo-channel.
The Namco group holds 5,500 square kilometres of marine diamond concessions off the Namibian and South African coasts. The industry’s offshore diamond production is rapidly increasing with 1995 Namibian output likely to achieve 600,000 carats, a 20 fold increase over 1990. Namibian output remains the highest value gem diamond output in the world.
Namco holds the second largest marine concession area in Namibia.
