Diamond Core Resources Limited - Progress Report
Diamond Core Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013468/06)
Share code: DMR ISIN Number: ZAE000045688
(`Diamond Core` or `the company`)
Progress report
Skeyfontein - completion of Phase 1A of the exploration program
Diamond Core is pleased to announce that Dikeing Mining (Pty) Limited, the joint
venture between the Company and the Skeyfontein Communal Property Association,
is making progress with its exploration programme on the Skeyfontein farm.
In May 2004, the geological contractors to Diamond Core, MSA Geoservices
(`MSA`), were contracted to articulate and implement the exploration strategy
and programme on the farm and Phase 1A of this programme has now been completed.
Phase 1A included the study of aerial photographs and an Aster (satellite
imagery) interpretation of the farm in order to identify the regional geology
with regards to structural and possible kimberlitic features. In addition, a
stream sediment sampling programme was conducted over the entire farm with a
limited number of samples collected in flat lying areas.
Analytical laboratory results from the stream sediment and soil sampling
programme are expected in the middle of August. The aerial photo and satellite
imagery analysis will then be incorporated into these results. If the results
are positive, a drilling programme will be implemented.
Paardeberg East - desk top study nearing completion
MSA has also been contracted to plan, oversee and manage the exploration
strategy and programme on the Paardeberg East Project, and has undertaken a
desktop study in order to consolidate, and verify the integrity of, all previous
work done. This desktop study is expected to be completed by the end of July
and a synopsis and analysis of the report will be published in the 2004 Annual
Report of the Company. MSA will use the desktop study as a basis for planning
further exploration work required.
Management remains of the view that the metallurgical recovery plant on
Paardeberg East is unsuitable for the needs of the Project in its current phase
of development. The Company will therefore continue with its efforts to dispose
of this plant.
Financials
The audit process for the year ended 30 June 2004 has commenced. The Company
expects to be able to publish its annual report before the end of September
2004.
Johannesburg
14 July 2004
Sponsor : Sasfin Corporate Finance (A division of Sasfin bank Limited)
Corporate advisor : QuestCo (Pty) Limited
Date: 14/07/2004 01:45:03 PM Produced by the JSE SENS Department
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