| Thu 7 Aug 2008, 16:00 | | RDI - Rockwell Granted New Prospecting Permits In Area Of Existing Operations |
|
RDI
RDI
RDI - Rockwell Granted New Prospecting Permits In Area Of Existing Operations
ROCKWELL DIAMONDS INCORPORATED
(A company incorporated in accordance with the laws of British Columbia, Canada)
(Incorporation number BCO354545)
(Formerly Rockwell Ventures Inc.)
(South African registration number: 2007/031582/10)
Share code on the JSE Limited: RDI & ISIN: CA77434W1032
Share code on the TSX: RDI & CUSIP Number: 77434W103
Share code on the OTCBB: RDIAF
("Rockwell")
ROCKWELL GRANTED NEW PROSPECTING PERMITS IN AREA OF EXISTING OPERATIONS
August 7, 2008, Vancouver, B.C. - Rockwell Diamonds Inc ("Rockwell" or the
"Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) reports on eight new prospecting
permits granted by the South African Department of Minerals and Energy ("DME").
These new prospecting permits are located in the Middle Orange River area in the
Northern Cape Province of South Africa, and include a number of permits which
are adjacent to the Company`s Wouterspan and Saxendrift operations.
Details are presented below.
Project Farm name Portion Size (Ha) Type of
areas right
Lanyonvale Lanyonvale 376 Ptn 16 (Ptn of Ptn 240.4480 Prospecting
9) Permit
Lanyonvale 376 Rem of Ptn 18 (Ptn 271.5347 Prospecting
of Ptn 10) Permit
Lanyonvale 376 Ptn 7 & 11 2917.4437 Prospecting
Permit
Douglas Zweet Fontein Rem of Ptn 1; Ptn 2 2045.1312 Prospecting
76 (Ptn of Ptn 1) Permit
Blaaubosch Rem of Ptn 1 & Ptn 3
Drift 78
Makoenskloof Reads Drift 74 Ptn 20 & 38 (Ptn of 2226.9832 Prospecting
Ptn 18) Permit
Diamond Diamond Valley R/E; Ptn 1 & 2 2679.9832 Prospecting
Valley 29 Permit
Saxendrift Saxendrift 20 Ptn 12,13,16,24 &25 1873.6890 Prospecting
Permit
Ptn = Portion; R/E = Remaining Extent
Lanyonvale Project: The Lanyonvale properties are situated adjacent to and
downstream of Rockwell`s Wouterspan Mine on the Middle Orange River. A program
of reverse circulation drilling and 3D modelling is underway to assess the
extent of gravel horizons that have already been identified on these properties.
Drilling and bulk sampling work is planned to confirm the presence of diamonds
in the gravel horizons, with the objective of extending the resources for the
Wouterspan operation.
Douglas Project Area: These properties are located upstream of the confluence of
the Vaal and Orange Rivers, outside of the town of Douglas. There have been
alluvial operations around the town of Douglas for the last 100 years. Follow
up work would include assessing the current potential of the properties.
Makoenskloof Area: This property is situated on the north bank of the Middle
Orange River, downstream of Makoenskloof where Rockwell performed bulk sampling
in 2007, producing some diamonds. The new property is located adjacent to a
private operation owned by another party that is known for the recovery of large
diamonds.
Diamond Valley: This property is located some 10 kilometres south of the modern
day Orange River and at the same general elevation as the Company`s Saxendrift
project located about 15 kilometres to the west. Field mapping and a program of
reconnaissance drilling is planned to make an initial assessment of this
property.
Saxendrift: These properties are adjacent to the lower (Terrace C) of the three
terraces that are located on the contiguous mineral right portions that
collectively comprise the Saxendrift property package. The Company already
holds rights to the property that hosts the upper terraces A and B which have a
history of historical
diamond production. With the granting of this new right, Rockwell now has access
to the three main terraces contained within the Saxendrift project area, with
the potential to add further gravel resources at Saxendrift. Terrace C is
located approximately 20 to 40 metres above the current river, whereas Terrace A
is some 120 metres above the present day river, and Terrace B is situated
between A and C. Rockwell is currently constructing a new processing plant on
Terrace A.
All of these properties are known to contain alluvial gravel deposits. The
Company has designed prospecting programs and will be proceeding with collation
of historical diamond information (where available), field mapping, and reverse
circulation ("RC") drilling work. RC drilling is aimed at confirming and
delineating the presence and extent of alluvial gravel deposits and ascertaining
the stratigraphy and composition of gravels deposits. Should the structure,
composition and extent and volume of gravels be found to be of sufficient volume
and geological interest, then follow up programs involving excavation of pits,
trenches and bulk samples would be considered. Properties with gravel resources
that are small and deemed to be less geologically favourable in terms of diamond
potential would be returned to the DME.
President and CEO John Bristow noted that, "These new prospecting permits
provide the Company with the means to extend the diamond bearing gravel
resources around its existing operations, and identify new project areas of
interest in the Middle Orange River area."
Further to the Company`s July 25, 2008 news release in respect of Industrial
action at its Wouterspan mine, all necessary steps are being taken to resolve
this matter. Rockwell will advise shareholders as soon as appropriate
information is available regarding actions and time lines to resolve this
situation.
For further details on Rockwell Diamonds Inc., please visit the Company`s
website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-
6365 or within North America at 1-800-667-2114.
John Bristow
President and CEO
No regulatory authority has approved or disapproved the information contained in
this news release.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking
statements". Other than statements of historical fact all statements in this
release that address future production, reserve or resource potential,
exploration drilling, exploitation activities and events or developments that
each Company expects are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploitation and exploration successes, changes in and the effect of
government policies regarding mining and natural resource exploration and
exploitation, availability of capital and financing, geopolitical uncertainty
and political and economic instability, and general economic, and market or
business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or developments may
differ materially from those projected in the forward-looking statements. For
more information on Rockwell, Investors should review Rockwell`s annual Form 20-
F filing with the United States Securities and Exchange Commission www.sec.com
and the Company`s home jurisdiction filings that are available at www.sedar.com.
CANADA
7 AUGUST 2008
SPONSOR
SASFIN CAPITAL (A DIVISION OF SASFIN BANK LIMITED)
Date: 07/08/2008 16:00:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
