Namdeb in prospecting deal with multinational

MULTINATIONAL company Minnex Exploration has signed an agreement with De Beers Consolidated Mines relating to diamond exploration to be conducted by Namdeb on certain exclusive prospecting licences.

The Ndiyona kimberlite project comprises rights to two exclusive prospecting licences in the Rundu district in the Kavango Region. Minnex is currently awaiting Namdeb’s imminent ratification of the agreement.Diamex JV, a wholly-owned subsidiary of JSE-listed mining exploration company, Thabex Exploration, owns a 51 per cent interest in Minnex.The recent acquisition of 50 per cent of Minnex will add three kimberlite and alluvial diamond properties to Thabex’s portfolio of mineral exploration projects.Among these is an exploration project located along the Orange River about 30 kilometres north of Prieska in the Northern Cape Province.Diamex plans to commence a percussion-drilling programme for alluvial diamonds in April this year on the farm Middelwater to determine the gravel tonnage on the area.On issue of the prospecting permit, Diamex will commence with a secondary bulk sampling.Another promising exploration project pertains to a contract between Alexkor and Minnex, where Minnex have the right to extract diamonds from Alexkor’s 4a concession.A joint venture is being finalised with Gas, Energy & Mineral, Westside Trading, Chistye Diamonds, and Minnex to commence diamond mining on the area.The joint venture is subject to an extension of the existing contract with Alexkor.”The quality of Diamex’s portfolio warrants a separate exchange listing, and the management of Thabex is intent, subject to the successful conclusion of its due diligence investigation, to list Diamex separately on the JSE in due course.”We are also optimistic that a decision regarding the application for a prospecting lease by Angel Diamonds (Pty) Ltd, a company incorporated in Lesotho and 60 per cent held by Thabex, by the Lesotho Government to explore and prospect the Kolo kimberlite pipe project 40 kilometres southwest of Maseru, will be made known within the next few weeks,” said Marius Welthagen, Chief Executive Officer of Thabex.-Diamond IntelligenceMinnex is currently awaiting Namdeb’s imminent ratification of the agreement.Diamex JV, a wholly-owned subsidiary of JSE-listed mining exploration company, Thabex Exploration, owns a 51 per cent interest in Minnex.The recent acquisition of 50 per cent of Minnex will add three kimberlite and alluvial diamond properties to Thabex’s portfolio of mineral exploration projects.Among these is an exploration project located along the Orange River about 30 kilometres north of Prieska in the Northern Cape Province.Diamex plans to commence a percussion-drilling programme for alluvial diamonds in April this year on the farm Middelwater to determine the gravel tonnage on the area.On issue of the prospecting permit, Diamex will commence with a secondary bulk sampling.Another promising exploration project pertains to a contract between Alexkor and Minnex, where Minnex have the right to extract diamonds from Alexkor’s 4a concession.A joint venture is being finalised with Gas, Energy & Mineral, Westside Trading, Chistye Diamonds, and Minnex to commence diamond mining on the area.The joint venture is subject to an extension of the existing contract with Alexkor.”The quality of Diamex’s portfolio warrants a separate exchange listing, and the management of Thabex is intent, subject to the successful conclusion of its due diligence investigation, to list Diamex separately on the JSE in due course.”We are also optimistic that a decision regarding the application for a prospecting lease by Angel Diamonds (Pty) Ltd, a company incorporated in Lesotho and 60 per cent held by Thabex, by the Lesotho Government to explore and prospect the Kolo kimberlite pipe project 40 kilometres southwest of Maseru, will be made known within the next few weeks,” said Marius Welthagen, Chief Executive Officer of Thabex.-Diamond Intelligence