WINDHOEK – Afri-Can Marine Minerals Corporation says it has completed a preliminary study of the feasibility of resuming mining this year on its leased mining area that is situated off the coast of Namibia.
The pre-feasibility study is based on existing probable diamond reserves of 319 000 carats. The company has an option to acquire an 80 percent interest from Diamond Fields, which produced some 158 200 diamond carats intermittently between 2001 and 2007 in the area. The area lies between 5 and 20 kilometres north of Lüderitz and covers 312 square kilometres, in water depths up to 130 metres. The company assumes that the area hosts at least 3 mineralised geological features. “The most efficient mining method is the seabed crawler system. The joint venture with International Mining and Dredging Holding will facilitate the charter of the mining vessel ‘Ya Toivo’, which has an efficient seabed crawler system,” a statement from the company reads. “We are very pleased with this pre-feasibility study. It confirms the area forms a strong basis for the start of a mining venture that will provide regular development and value for our shareholders. The portfolio offers very good development potential.
We feel that we are sitting on a strong project in a very solid industry,” said Pierre Léveillé, the chief executive officer of Afri-Can. Afri-Can’s technical team is currently designing a sampling programme of up to 800 samples that will serve to establish mining blocks and mining grades, as well as serve to increase some or all of the inferred resources. A detailed mine plan will be designed upon completion of the sampling programme.
By Staff Reporter