Afri-Can Marine Minerals Corporation (TSXV:AFA) announced a new National Instrument 43-101 report estimating 413,000 carats indicated and 453,000 carats inferred on the Diamond Fields International Ltd. Mining Lease 111. A portion of the indicated resource will be the object of a trial mining program, for which Afri-Can’s team is currently preparing a preliminary feasibility study and preparing mine planning.
As quoted in the press release:
- ML 111 has 3 geological features that host Indicated or Inferred Resources;
- Marshall Fork is the main deposit that has seen intermittent production between 2001 and 2007. Diaz Reef has seen some small-scale production. North Bay is composed of 3 deposits and has never been in production;
- The remaining indicated resource on the 3 areas stands at 413,000 carats at a grade of 0.17 carat per square metres and the remaining inferred resource stands at 453,000 carat at a grade of 0.15 carats per square metre.
- Part of the remaining indicated resource on Marshall Fork and Diaz Reef has mineablepotential, and a preliminary feasibility study and mine management planning are currently being prepared in order to quantify the economics of the project and allow possible re-classification of some of the Indicated Resources as Probable Reserves. The indicated resource, which is the object of the study stands at 255,000 carats at a grade of 0.30 carats per square metre on an area totalling 855,000 square metres (see map 3 below);