12th Apr 2007 12:49
Namibian Resources PLC12 April 2007 Namibian Resources Plc - 4th Quarter Progress Report RNS Number: Namibian Resources Plc 12 April 2007 Preliminary results from the sampling campaign in the Annatal have beenpositive. However, the depth of sediment has proved to be greater thanexpected. Further tests are needed to ascertain if the full thickness of thesediment is diamondiferous. If not then the grade will be much improved bystripping the overburden thereby reducing the gross tonnage fed to the primaryin-field screen. Water at depth is still a problem but is progressivelyreducing during the current summer months. Although carats produced for the last quarter were less than the previousquarter an average size of 0€903 carats per stone was achieved from a small areaof Saltztal East, which yielded 385 stones of a total weight of 247.90 carats.This included 86 stones of between 1 and 2 carats, 8 stones between 2 and 3carats, 6 stones between 3 and 4 carats and 1 stone between 4 and 5 carats. Inaddition to sampling we have re processed old tailings, hand swept a goodproportion of the mined out area of East Saltztal and started rehabilitating theswept areas of East Saltztal. As soon as the East and West Saltztal have beenrehabilitated Namdeb has indicated that we will be granted an extension to ourarea to the south where some promising small areas are apparent. During this quarter we have taken steps to increase production:- (1) We have purchased an additional 25 ton articulated Dump Truck and a frontend loader. (2) We are carrying out a technical exercise assessing our pumps andgenerators to increase the water flow and consequently increase the throughputof gravel from the primary screen. (3) The Manhattan screen is now operational which will increase the supply ofscreened gravel. (4) A Ball Mill has been purchased and refurbished at very little cost. Thiswill enable us to supplement production by milling conglomerates from tailingsto produce a super concentrate for recovery. (5) Hand sweeping of bedrock has produced additional valuable production. (6) Namdeb has offered to lend us a Transvac machine, which can suck residualgravel from irregular bedrock surfaces that may be diamond trap sites. Thiswill reduce the time to complete mining of East and West Saltztal and leave usfree to sample the prospective ground extending to the south of East and WestSaltztal mentioned above. (7) In addition to sampling the Annatal we have taken a first sample trenchon an adjacent unmined area known as ST81, which we have named Hannatal. Thisproduced 9 stones for a total weight of 9.52 carats including one stone of 3.695carats. Two further sample trenches are being processed. (8) Although sampling and rehabilitation slowed production turnover and caratproduction will exceed the last financial year (subject to audit). Costs havebeen contained and the balance sheet remains strong. A C A Carlton Chief Executive Officer The technical information presented in this report has been reviewed by DrDonald G Sutherland of Placer Analysis Ltd, technical consultants to SonnbergDiamonds (Pty) Ltd. Dr Sutherland is a Qualified Person for the purposes of theAIM Guidance Note on Mining, Oil and Gas Companies dated March 2006. DrSutherland has BSc and PhD degrees from Edinburgh University and is a Member ofthe Institute of Materials, Minerals and Mining. He has over 30 yearsexperience in diamond exploration and mining. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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