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Commencement of Drilling at Beravina and Agreement to Extend Timetable
Commencement of Drilling at Beravina and Agreement to Extend Timetable Canada News...
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\nCommencement of Drilling at Beravina and Agreement to Extend Timetable\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 11, 2019\n\n\n\nVANCOUVER, Nov. 11, 2019 /CNW/ - Diamond Fields Resources Inc. (TSX-V: DFR) (\"DFR\" or the \"Company\") is pleased to announce that it has been notified by TMH Acquisition Co (\"TMH\") that the planned drill program at the Company's Beravina Zircon Project in Madagascar (\"Beravina\") has commenced. Two drill rigs are being deployed as part of the exploration and development work to confirm known mineralisation and test extensions. \nAs previously announced, an Environmental Impact Assessment (\"EIA\") covering the drill program has been secured from the Madagascan authorities. The EIA process inevitably impacted the timing for completion of the exploration work beyond the originally envisaged period of 7 months from 16 May 2019 (\"the Evaluation Period\"). The Company and TMH have now agreed to extend the Evaluation Period, without financial penalty, until 31 May 2020. A further extension to the Evaluation Period for up to three months remains available to TMH, provided development expenses have been incurred by TMH in an amount that equals or exceeds US$500,000 and TMH makes a cash payment of US$250,000.\nNotes to Editors:\nDFR is a TSX Venture Exchange listed exploration and mine development company with assets in Madagascar and Namibia. In Madagascar, DFR is developing the Beravina Project in cooperation with Denham Mining Fund LP. Beravina is an advanced high-grade hard rock zircon exploration prospect located in the west of the country, approximately 220km east of the port of Maintirano and near a state road. DFR acquired Beravina from Pala Investments and Austral Resources in 2016. In Namibia, International Mining and Dredging Holdings (Pty) Limited is undertaking an initial six month (non-continuous) offshore diamond mining program on DFR's ML 111 licence area. The ML 111 concession has a ten-year mining licence, effective until 4 December 2025, and lies within Luderi...