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Architecture, Building and Construction : Kopane Diamond Developments PLC: Progress on the Wide-Diameter Drilling Programme in Lesotho
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| on 2008/4/7 5:00:18 (1172 reads) |
Highlights
- Principal objectives to upgrade significant tonnage from Inferred to Indicated resource categories and to increase the Inferred resource at depth
- Wide-diameter drilling programme (up to 4,700 metres) commenced end of February 2008 - conclusion expected end of Q3 2008
- Successful completion of first two holes (400 metres)- a total of up to 4,700 metres to be drilled
- 90 kimberlite samples (approx.1,800 tonnes) to be treated through new purpose-built plant
In February 2008, a new Prakla RB40 drill rig was mobilised to the mine, from Germany, to conduct the wide-diameter drilling programme ("the Programme"). The Programme is being managed by Bauer Technologies South Africa under the supervision of ACA Howe International ("Howe"). Howe is responsible for all elements of the Programme supervision through to the calculating of the upgraded Resource Statement.
The Programme comprises a minimum of 23 holes of 17.5" diameter to a target depth of 150 metres and a further four holes, of similar diameter, to a depth of 250 metres. All four facies of kimberlite, namely K2, K4, K5 and K6, will be sampled by the Programme. Drilling of kimberlite commenced at the end of February and two holes, WWD-07 and WWD-03, together totalling 400 metres, have now been successfully completed.
The Programme is expected to generate 90 kimberlite samples, representing 1,800 tonnes of kimberlite. These samples will be treated through a 5 tonnes per hour Dense Media Separation plant which has been purpose built for the Programme and is expected to be delivered to site in the next few weeks. Results from the sampling will be forthcoming soon after commissioning the plant. The total Programme is expected to be completed by the end of the third quarter of calendar 2008.
Commenting today Tim Read, Executive Chairman, of Kopane said: "The wide-diameter drilling is underway, marking a new stage in Kopane's development towards significantly expanding production. Combined with additional exploration work, such as the bulk sample, we expect to announce an updated resource and Definitive Feasibility Study by the end of the year. In our recent interim results we announced Pounds Sterling 1.9 million of Lesotho diamond sales, through sales partner BHP Billiton. Realizing the full potential at Liqhobong is our primary objective and I look forward to announcing further development and diamond sale news during the half."
In July 2007, the Main Pipe PFS published a resource statement prepared by Dr Leon Daniels of Geocontracts Botswana (Pty) Ltd. This statement was prepared according to the criteria of the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Reserves (2000). This statement was as follows:
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Grade Contained Diamonds
cpht Tonnes (M carats)
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Total Indicated Resource
(surface to 45 metres) 28.16 14.0 3.94
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Total Inferred Resource
(45 metres to 230 metres) 26.99 28.2 7.60
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Total 27.35 42.2 11.54
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The Programme is part of a wider Geological Programme on the Main Pipe to include additional bulk sampling at surface of some 20,000 tonnes of Main Pipe kimberlite, to be processed through the current operation's Process Plant. A series of four deep core holes (HQ/NQ diameter) are also planned to better define the geometry of the kimberlite pipe at depth as the deep PFS holes did not pierce the wall rock.
The object of the Geological Programme is to upgrade significant tonnage from the Inferred resource category to Indicated and to increase the Inferred resource at depth. This upgraded resource would greatly assist the project financing of the Liqhobong Main Pipe project.
Kopane will provide information on the results of the Programme to its shareholders as they become available over the course of the next few months.
About Kopane
Kopane is a diamond producer, developer and explorer with core projects at Liqhobong in Lesotho, Southern Africa. It is currently producing diamonds at a rate of 160,000 carats per annum and these are sold in Antwerp through BHP Billiton. The principal development project is the Main Pipe, which is currently subject to a Definitive Feasibility Study (expected end 2008). This project has the potential to produce a rate of one million carats per annum. Kopane also has a joint venture to explore for diamonds in Finland, managed by Mantle Diamonds. Kopane is listed on AIM and is also traded through plus markets (ticker symbol: KDD).
Kopane Diamond Developments Plc
Tim Read
Executive Chairman
+44 (0) 20 7529 7502
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