3rd Aug 2006 15:06
SouthernEra Diamonds reports on the Badibanga Alluvial Project, DemocraticRepublic of Congo Shares issued and outstanding: 159,464,229 TSX: SDM AIM: SRE - Sampling and Diamond Recovery Plant en route to Confirm Historical Diamond Results TORONTO, ON and LONDON, UK, Aug. 3 /CNW/ - SouthernEra Diamonds Inc.(TSX: SDM, AIM: SRE;) today reported on historical information which indicatesthat SouthernEra's 100% owned Badibanga Alluvial Diamond Project ("BADP") inthe Democratic Republic of Congo ("DRC") may contain significant diamonddeposits within the alluvial flat system (floodplain deposits). Following thepreviously announced SouthernEra Tshikapa Alluvial Diamond Project, the BADPis SouthernEra's second large alluvial diamond project and is locatedapproximately 60 km to the northwest of the producing Mbuji-Mayi Kimberlitediamond mining area in the Kasai Oriental Province. Between 1926 and 1955, theBelgian mining companies Forminiere, E.K.L. and Socieite de Miniere du Becekamined over 194 million carats from the region. HISTORICAL REPORTS ------------------ Research on the BADP area by the Royal Museum for Central Africa("RMCA"), Department of Geology and Mineralogy, Tervuren, Belgium was recentlycommissioned by SouthernEra. The RMCA research report, "Contribution ToEconomic Geology of the Lubi, Kegne-Kegne, Mulenda and Pania-Mutombo Deposits,S6/23-Dimbelenge (Republique Democratique Du Congo)" is dated March 2004. TheRMCA study was based on public-domain information that includes historicalreports, notes and maps dating between 1916 and 1974 available in the archivesof the RMCA. The RMCA study reports on potential significant alluvial diamonddeposits that were sampled by Forminiere within SouthernEra's BADP permit.This study reports on historical non-43-101 compliant unmined diamond depositstotaling 3.49 million carats within the alluvial flat drainage system whichwas termed the "Lubi-Lukula Triangle" located within SouthernEra's BADP permitarea. The diamond grade of the "Lubi-Lukula Triangle" flats was notascertainable from the archived information however SouthernEra estimates thatdiamond grades may be in the 1.5 carat/cubic meter range based on currentlocal artisanal mining information as well as from the recovered grade of 1.53carats/cubic meter from the past producing Forminiere Kegne-Kegne alluvialdiamond mine located approximately 20 km downstream of Lubi-Lukula Triangle. A qualified person has not classified the historical estimates as currentmineral resources/reserves and SouthernEra is not treating them as currentmineral resources/reserves and the historical estimates should not be reliedupon. SouthernEra has planned an aggressive sampling and evaluation campaign toconfirm Forminiere's historical results. The first phase of the program isdesigned towards recovering a 3000 to 5000 carat diamond parcel to establishthe average dollar per carat value and grade of the alluvial flats that havebulk mineable potential. Based on the first phase program returning positiveresults the second phase program will be geared towards bringing the alluvialflats into a more confident resource category followed by mining. The areaalso hosts a suite of extensive potential bulk mineable diamondiferous terracegravel deposits that are located adjacent to the alluvial flats. The potentialof these terraces will also be investigated concurrently with phase one andtwo. The BADP program to date has consisted of utilizing remote sensing datato map these areas followed by ground truthing. A central base camp has beenestablished. Gravel sampling equipment and a diamond recovery plant are enroute to the project site. The first phase program is expected to be completedin 10 months. Results will be released as they become available during theprogram. Mr. Uwe Naeher, Professional Geologist and SouthernEra's WesternExploration Manager, is the qualified person, under NI 43-101, responsible forthe technical information in this release. SouthernEra Diamonds is one of Canada's fully integrated diamondcompanies with extensive alluvial and kimberlite diamond exploration in theDRC as well as other countries including Canada, Gabon, Zimbabwe and SouthAfrica. The Company also holds the Klipspringer Diamond Mine in South Africaand maintains an 18 percent free-carried interest in the Camafuca DiamondProject in Angola. Some statements contained in this news release are forward-looking and,therefore, involve uncertainties or risks that could cause actual results todiffer materially. Such forward-looking statements include comments regardingexploration work. Actual results could differ materially from thoseanticipated. The Company disclaims any obligation to update forward-lookingstatements.For further information: SouthernEra Diamonds Inc., Howard Bird, Senior VicePresident Exploration or Sharon Allan, Investor Relations, Telephone: (416)359-9282, Fax: (416) 359-9141, E-mail: inbox(at)southernera.com,www.southernera.com; London: 4C-Burvale, Carina Corbett, Director, Telephone:++44 (0) 207-907-4761, Fax: ++44 (0) 207-907-4769, Email:Corbett(at)4c-burvale.co.uk(SRE SDM.) ENDSOUTHERNERA DIAMONDS INCRelated Shares:
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