Johannesburg, South Africa — MININGREVIEW.COM — 04 June 2008 – BRC DiamondCore Limited – a growth-focused African diamond explorer, created through the merger of BRC Diamond Corporation of Toronto and DiamondCore Resources of Johannesburg – has achieved encouraging results from its latest tender sale of diamonds from its Paardeberg East and Silverstreams trial mining projects in the Northern Cape province of South Africa.
A news release issued here by the company confirms that a total of over 1 909 carats was sold in its third tender sale for a total of just under US$2.5 million (R19 million). This included a 77.34-carat stone from a Silverstreams high terrace channel trench, which reinforces the size frequency distribution plots of the diamond population recorded by the company for the various sampling trenches. This diamond sold for a little over US$904 000 (close to R7 million), or US$11 698 (almost R89 000) per carat.
Commenting on the prices, CEO Theo Botoulas said: “The average prices achieved for the entire run-of-mine production for both Paardeberg East and Silverstreams of US$390.90 (almost R3 000) per carat and US$6 065.89 (R46 100) per carat respectively are most encouraging.”
He added that as a result of increased geological and grade confidence delivered by the systematic sampling programme at Silverstreams, as well as access to adequate Eskom power, BRC-DiamondCore will implement the first phase of its plan to double the capacity of the project.
“The capacity of the rotary pan plant section will first be increased by 5% through the addition of two 16-foot rotary pans,” he explained, “and production is expected to rise proportionally as the Silverstreams project gears up.”