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DMR
DMR
Diamond Core - Commissioning of 50 TPH DMS Module and General Progress Report
DIAMOND CORE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013468/06)
Share code: DMR & ISIN Number: ZAE000076956
("Diamond Core" or "the company")
COMMISSIONING OF 50 TPH DMS MODULE AND GENERAL PROGRESS REPORT
Diamond Core Resources Limited ("the Company") is pleased to update shareholders
on the progress made on projects within its portfolio, as well as provide a
general progress report regarding matters within the Company.
Commenting on the current status and general progress of the portfolio of
diamond projects being developed by the company, Theo Botoulas, CEO of the
Company stated that "the completion of the Dense Media Separation (DMS) module
and final recovery at Paardeberg East is another significant milestone that
enables the Company to treat its tailings and oxidised kimberlite in the run up
to full bulk sampling operations. The pit continues to be `made safe" and
mapping of the PK1 pipe is in the process of being completed. Bulk sampling
sites in representative areas on the kimberlite body are being identified by the
Company geologist. Bulk sampling of the PK1 and PK3 areas will commence early
in the new year. All work will be conducted and reported according to the SAMREC
Code. The ability of the Company to conduct its own bulk sampling programmes is
a key part of the ongoing exploration process of systematically searching for
economically viable opportunities to bring into production, and will be used to
sample not only the Paardeberg East kimberlites but all potential kimberlite
targets in our immediate area of interest."
For more information and a photo gallery of the Paardeberg East project, please
visit our website on www.diamondcore.co.za.
Key achievements:
Paardeberg East
* Commissioning of the 50 ton per hour DMS module and final recovery unit at
the Paardeberg East site;
* Completion of the dewatering operations in the PK1 pit, a small supply of
water being retained in the eastern lobe for use in the metallurgical
process;
* Completion of overburden stripping and making safe of the western lobe of
the Paardeberg East PK1 pit;
* Commencement of overburden stripping and `making safe" of the damaged
sidewalls on the eastern lobe of the Paardeberg East PK1 pit.
* Commencement of tailings retreatment operations through the 50 ton per hour
DMS module whilst `making safe" of pit continues
* In excess of 150 000 tonnes of kimberlite excavated from the upper
extremity of the PK1 pit on the Western Lobe stockpiled onto the sampling
pads;
* Infrastructural development 90 percent completed;
* Continuation of exploration activities and identification of targets for
drilling;
Silverstreams
* Infrastructural development commenced
* Layout of drilling grid for infill drilling on the channel feature at
Silverstreams;
Other
* Review and planning for the Uitdraai and De Kalk alluvial exploration
sites;
* Ongoing exploration on primary targets in the Company portfolio, in
particular Skeyfontein and Kuiltjespan;
* Continued implementation and integration of the Company into the fabric of
the Northern Cape via numerous BEE initiatives;
* Continuation of infrastructure and services development in support of the
operational function and the creation of administrative functions ranging
from financial controls to IT.
Projects
The projects are detailed in order of operational priority, as:
* Paardeberg East kimberlite project which is held in Diamond Core Mining and
Exploration (Pty) Limited, a 100 percent held subsidiary of the Company.
Our objective to commission this project by the last quarter of this year
as a regional bulk sampling and trial mining facility, is on track.
* Silverstreams alluvial project held in Sandstraat Eksplorasie (Edms) Bpk, a
50 percent held subsidiary. The objective is to commission this project by
the first quarter of 2007.
* Uitdraai alluvial project which is owned via a 50 percent subsidiary
Prieska Diamond Mining (Pty) Limited. Construction of this project will
commence, by the end of the first quarter or early in the second quarter of
2007, once the two projects detailed above have been commissioned
* De Kalk alluvial project held in Samadi (Douglas) Exploration (Pty)
Limited, a 50 percent held subsidiary. Construction of this project will
commence once the first two projects detailed above have been commissioned,
by the end of the first quarter or early in the second quarter of 2007.
* The Skeyfontein kimberlite project held by Dikeing Mining (Pty) Limited, a
50 percent held subsidiary, on which some additional exploration work will
be done.
The "blue sky" projects housed in both DCR Kimberlite and Alluvial Projects
(Pty) Limited, as well as Samadi Exploration (Pty) Limited, will be implemented
by way of a parallel strategy to the above projects with a budgeted R 1,5
million for initial work. This includes Silverstreams kimberlite exploration,
the Koa Valley Project and Kuiltjespan, on which SENS announcements have been
made previously.
29th November 2006
Epsom Downs
Sandton
Sponsor
River Group
Date: 29/11/2006 12:17:10 PM Produced by the JSE SENS Department
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