As a result of the successful 1st stage evaluation sampling program on its 70% owned Block J marine diamond concession in Namibia, Afri-Can Marine Minerals Corporation believes it has put into place the foundation to develop an economic diamond resource ready for production.
The first stage evaluation sampling in Block J focused on 37% of the mineralised areas and achieved the first goal, which was to transform a part or all of the previously estimated potential into an inferred resource, and to estimate a new potential on areas that were not part of the previous potential estimation. The most important achievement of the program was the discovery of a higher grade strip within Feature 8, which covers at least 1.8 km by 200 m. The geophysical survey data indicate that the strip extends to the north end of Block J, over a distance of about 20 km. Furthermore, there appears to be a broad connection between the northern part of the strip in Feature 8 and Feature 6, where a potential concentration of diamonds has been encountered.
Analysis and interpretation of the first phase results and data will lead to planning of the subsequent 2nd stage evaluation sampling, which will be conducted on parts of Feature 8, the extension of the higher grade strip, and on Feature 6. The company is also planning a trial mining phase, to be conducted within the higher grade strip on Feature 8 to develop mining blocks and establish ore reserves.
Afri-Can believes that its recent exploration success establishes a solid foundation within Block J, and proves that the technology provided by International Dredging and Mining Holding Ltd meets the standards required for large scale exploration. Afri-Can is evaluating additional concessions with strong development potential. While Block J remains its core asset and its most advanced project, Afri-Can, based on its strengthening relationship with IMDH, plans to undertake new exploration development projects.