ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

AFD Ansar Financial and Development Corporation

0.41
0.00 (0.00%)
19 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Ansar Financial and Development Corporation CSE:AFD CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.41 0.03 1.00 0 00:00:00

Drilling Report

15/09/2003 8:00am

UK Regulatory


RNS Number:7238P
African Diamonds PLC
15 September 2003

                             African Diamonds PLC

                              Exploration Update

          Drilling starts at Orapa Kimberlite Project, Botswana

African Diamonds, the AIM listed diamond exploration and production company with
assets in Botswana, Sierra Leone and Guinea, announces the start of drilling at
its Orapa Kimberlite Project, Botswana.

During September 2003 seven kimberlite pipes close to the world class De Beers
Orapa and Lethlakane diamond mines, will be drilled. Orapa is the second largest
diamond mine in the world. It produces over 14 million carats in 2002;
Lethlakane, some 40kms away is the fourth largest producing over 1 million
carats in 2002. Both mines produce gemstone quality diamonds.

Key Points

-    The AK12 kimberlite, currently being drilled, immediately borders the 
     Orapa Mine.

-    De Beers discovered many of the kimberlites during the late 1960's. Recent 
     intensive exploration discovered additional pipes.

-    The kimberlites vary in size from 3 to 0.5 hectares and outcrop surface. We 
     believe they are all diamond-bearing.

-    Ground geophysical surveys suggest that some of the kimberlites may be 
     bigger than reported by De Beers.

The samples will be processed through an on-site separation plant. Concentrates
will be sorted for diamonds after processing through a dense liquid separation
process. Heavy mineral concentrates from the individual kimberlites will be
analysed by an independent laboratory.

All processing will be done and results announced by the end of November.

Commenting on the drilling programme, African Diamonds Chairman John Teeling
said:

"We have built up a world-class portfolio of diamond-bearing African assets. Our
objective is to have a gemstone mine producing within three years. This drilling
programme is an important step towards achieving that objective. I am confident
of a positive outcome."


Notes:

Interest in Project
African Diamonds plc holds a 100% interest in the project through its subsidiary
Kukama Mining and Exploration (Pty) Limited, a company registered in the
Republic of Botswana.

Kimberlite
Kimberlite is a volcanic rock formed at great depths within the Earth which
contains a variety of minerals and traceable at the surface in pipes. It is the
principal source of diamonds.


Contacts:
John Teeling:  +353 87 2581178
Leon Daniels:  +278 2339 6611


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

DRLELLFFXKBBBBB

1 Year Ansar Financial and Deve... Chart

1 Year Ansar Financial and Deve... Chart

1 Month Ansar Financial and Deve... Chart

1 Month Ansar Financial and Deve... Chart

Your Recent History

Delayed Upgrade Clock