Business
Alto Cuilo - MBS Results
Alto Cuilo - MBS Results.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n Petra Diamonds Ld\n29 May 2007\n\n29 May 2007\n\n Petra Diamonds Limited\n\n\n Alto Cuilo Project; First Mini Bulk Sample Results\n\n\nPetra Diamonds Limited ('Petra' or 'the Company') announces encouraging first\nresults from the mini bulk sampling ('MBS') campaign at Project Alto Cuilo \n('Alto Cuilo' or 'the Project') in Angola. The MBS programme is important as it \nis the next step in estimating the economic viability of the various kimberlites\nat Alto Cuilo and hence their potential to be developed into mines. These first\nresults are for kimberlite AC63, the first of the priority kimberlites to be\nsampled; the MBS programme will now continue with the sampling of other priority\nkimberlites at Alto Cuilo, namely AC98 and AC60.\n\n\nHighlights\n\n • AC63 drilled and sampled as the first priority kimberlite in the MBS\n campaign\n • Encouraging results received, with one hole at AC63 (MB1) recording a\n grade of 22.7 carats per hundred tonnes ('cpht') for an intersection of 90\n metres; this drill hole peaked at a grade of 35.5 cpht over an intersection\n of 30 metres\n • Other high grade zones at AC63 were identified; these results mean that\n AC63 will be further investigated by geophysical techniques and is likely to\n be sampled further during the MBS campaign\n • Recovery of 222 diamonds (greater than 1mm square mesh screen), yielding\n 18.49 carats from a cumulative sample weight of 549 tonnes of material*;\n this sample included crater facies sandstones which will have significantly\n diluted the overall average grade\n • Two stones of 1.52 and 1.05 carats were recovered - the sample also\n included 3 white stones of 0.83, 0.68, and 0.33 carats\n • The highest grade areas correspond with those that have previously\n exhibited high potential results from kimberlitic Heavy Mineral Analysis \n ('HMA'), supporting the exploration model developed by Petra and joint \n venture partner BHP Billiton\n • The large diameter drill ('LDD') rig is now drilling at AC98, the next\n priority kimberlite target\n • Now that the MBS campaign is underway, it is expected that MBS results\n will be announced with regards to other priority kimberlites at Alto Cuilo\n on a regular basis; further, a second LDD rig has been ordered and is\n expected to be on site by the end of July, which will assist the speed and\n effici...