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63,000 Carats Indicated Resource Estimated in Joint Operations Area and Retirement of Director
63,000 Carats Indicated Resource Estimated in Joint Operations Area and Retirement of Director.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\nSYMBOL: DFI\n\n\nCAPE TOWN, South Africa, Jan. 4 /CNW/ - Diamond Fields International Ltd.\n(DFI:TSX) (\"DFI\" or the \"Company\") is pleased to announce that independent\nconsulting company SRK Consulting (\"SRK\") has estimated an Indicated Resource\nof 63,000 carats in the Diaz Prospect 1 (DP1) joint operations area in ML 111\noffshore Luderitz, Namibia, derived from sampling conducted under the\npreviously announced joint operations agreement with Bonaparte Diamond Mines\nNL (\"Bonaparte\").\n\n\nDetails of the Indicated Resource calculation, including the key\nassumptions, parameters and methods used to estimate the Indicated Resource,\nare contained in the NI 43-101 technical report entitled \"Resource Estimates\nfor the Diaz Prospect 1, Namibia\" dated December, 2006 prepared by SRK for DFI\nand Bonaparte, a copy of which has been filed under DFI's profile on the SEDAR\nwebsite at www.sedar.com.\n\n\nKey points from SRK report:\n- Indicated Resource of 63,000 carats of newly defined resource has\n been independently estimated in the Diaz Prospect 1 area in ML111,\n Namibia.\n- Total resource area of 315,000m(2) at average grade of 0.2ct/m(2).\n- 76% of total resource (48,000 carats) occurs at an average grade of\n 0.43ct/m(2) in an area of 111,500m(2) within defined resource area.\n- Anticipated 30% increase in estimated grades during mining.\n- Large average stone size of 0.47 carats per stone.\n\n\nSRK's NI 43-101 compliant Indicated Resource estimate of 63,000 carats\noccurs within 7 discrete zones in DP1 with a combined area of 315,000m(2) and\nan average grade of 0.2 ct/m(2). This global grade exceeds the assay cut-off\nof 0.1 ct/m(2) which is normally applied to offshore diamond resource\nestimates. Application of an assay cut-off of 0.2ct/m(2) shows that within\nthis global resource area, at least 76% (48,000 carats) of the resource is\ncontained in an area of approximately 111,500m(2) at an average grade of\n0.43ct/m(2). SRK anticipates that grades achieved during mining could be in\nthe order of 30% higher than estimated as a result of operational experience\nin the Namibian offshore environment.\n\n\nSRK comments that these resource areas are all readily accessible to\nairlift mining, as employed by the Company's mining ship, MV DF Discoverer.\nThe diamondiferous gravels generally lie at shallow depths w...