PRESS RELEASE
15 MARCH 2001
Mazal Mining & Exploration Ltd has announced the results of the first bulk
sampling exercise on its Paardeberg East property near Kimberley, Northern Cape
This is the first of at least four proposed bulk sampling exercises to assess
diamond value of its MK1 kimberlite site. The sampling activities are also a
key requirement of the competent person's report being compiled for the
relocation of Mazal's listing on the JSE Securities Exchange South Africa from
the mining exploration to the diamond sector.
The 2837.64 tonne sample, comprising calcretised weathered kimberlite, was
collected from a 10 m vertical section about 10 m from the surface of the
pipe's eastern lobe. A total of 2 353 diamonds weighing 275.07 carats were
recovered from the bulk sample, equating to a grade of 9.69 carats per 100
tonnes. The average value per carat was US$80.71 with the average stone size
0.12 carats per stone. This result is comparable to an estimate of the grade of
10.76 cpht that was made based on a survey of the tailings heap. The tailings
heap represents the previous seven months production.
Independent geologist, Lyndon de Meillon overseeing the sampling programme
says: "The calcretised kimberlite treated during this sample represents
approximately 10% of the total tonnage to a depth of 150m and is only from one
area (eastern lobe) of the kimberlite. The degree of calcretisation decreases
with depth."
The next sample will be taken from an area of fresh kimberlite (blue ground)
providing a better indication of the recoveries that can be expected for the
largest part of the ore body.
"The results of the first bulk sample are encouraging and definitely merit the
further work planned on the property," says Theo Botoulas of BoE Merchant
Bank's Investment Banking Division. "Exploration is currently being conducted
in a systematic and professional manner and the grade and price achieved thus
far seem normal for a diamondiferous kimberlite. A better idea of the grade
and diamond distribution representative of the project will be gained as
exploration work continues on different zones of the kimberlite. Currently
only the calcretised portion of the oxidised zone has been bulk sampled. In
addition to the MK1 pipe, Mazal has a portfolio of exploration targets that
offer "blue sky" potential to investors in the company."
ends
ISSUED BY PR PRODUCTIONS ON BEHALF OF MAZAL MINING & EXPLORATION LTD
CONTACT : ABELENE LLOYD
PR PRODUCTIONS
011-326-4800 / 082 990 5602
CONTACT : DAVID LEVITHAN
MAZAL MINING & EXPLORATION LTD
011-325-6170
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