Developments in Sierra Leone

 

TIDMWAD 
 
RNS Number : 0759Z 
West African Diamonds PLC 
16 September 2009 
 

16 September 2009 
 
 
Developments in Sierra Leone 
 
 
- Joint venture with Thunderball Limited to explore Pipe 3 in Koidu, Sierra 
Leone. 
- West African Diamonds retains 20% carried interest to the commencement of 
production. 
 
 
The board of West African Diamonds (WAD), the AIM listed diamond miner, is 
pleased to announce the formation of a joint venture with Thunderball, a private 
Japanese / Sierra Leone company to explore and, if justified, to develop a mine 
in and around the diamondiferous Pipe 3 kimberlite in the Koidu area of Sierra 
Leone. Pipe 3 is part of a 26 square kilometre licence, which also includes 
kimberlite dykes containing high grades of quality diamonds. 
 
 
Thunderball will immediately begin an intensive exploration of the licence. They 
will be operator and 80% shareholder in the venture. WAD holds the remaining 20% 
and will be carried for all expenditure up to the commencement of production. 
 
 
John Teeling, Chairman, said: 
"This is a significant and very welcome development for WAD. The focus of WAD on 
developing our Bomboko mine in Guinea has meant less time and money have been 
devoted to evaluating the potential of the Pipe 3 kimberlite and surrounding 
areas in Sierra Leone. Earlier work by WAD produced a grade of 20 carats per 
hundred tonnes of high quality gemstones from Pipe 3; we believe the grade could 
be higher and the pipe could prove to be even bigger. I am delighted that 
Thunderball has plans for immediate exploration, evaluation and, if justified, 
development of a hardrock diamond mine on the property. We look forward to 
working with them and offering them every support". 
 
 
This release has been reviewed by Alex van Zyl, Technical Director, West African 
Diamonds plc. Alex van Zyl (B.Sc. Stellenbosch, B.Sc. Hons. Pretoria) spent a 
long career in Anglo American in the diamond division, ending up 1990 to 1997 
with worldwide responsibility for diamond exploration and evaluation. He was a 
consultant to De Beers from 1997 to 2002. 
 
 
Enquiries: 
 
 
+------------------------------------+-------------------------+-------------------+ 
| West African Diamonds plc          |                                             | 
+------------------------------------+---------------------------------------------+ 
| John Teeling, Chairman             |  + 353 1 833 2833       | 
+------------------------------------+-------------------------+ 
| James Campbell, Deputy Chairman    |  [phone]        | 
+------------------------------------+-------------------------+ 
| Astaire Securities plc             | [phone]                         | 
| Lindsay Mair                       |                                             | 
+------------------------------------+---------------------------------------------+ 
| College Hill                       | [phone]                        | 
| Nick Elwes                         |                                             | 
+------------------------------------+-------------------------+-------------------+ 
 
 
www.westafdiamonds.com 
 
 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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