Reefton recovers 74 carats of diamonds in three weeks

REEFTON Mining N.L (Reefton) has recovered 74 carats (533 diamonds +1.3mm screen size) of premium gem grade diamonds from a new trench site in the Mowe Bay Sector of the Skeleton Coast Diamond Project in Namibia in the past three weeks of operation.

The Australia-based company announced in a press release on Wednesday that this recovery has been added to its increasing inventory, which now totals 324 carats. Reefton’s diamonds were assessed at an extraordinary 89 per cent flawless with 97 per cent colourless to faint yellow.An additional 2 per cent are fancy yellow, which should attract a premium price, the company said.The company is apparently planning to scale-up the processing of diamondiferous gravels over the coming weeks to accelerate the bulk sampling activities to thus enable a resource calculation for the Mowe Bay sector in the first half of 2005 In February last year, Reefton announced that it had recovered 264 diamonds totalling 63,76 carats from Namibia’s Skeleton Coast.The diamonds then recovered, were 264 in number, averaging 0,24 Carats, from a 467-tonne fossil beach concentrate.The company took the concentrate from a 22km long section of the 220km Skeleton Coast beach, which is under its mineral title.The diamonds, dug from eight trench sites, were reportedly of high quality and exceptional size, the largest weighing 1,48 carats.The majority of recovered diamonds are reportedly white and clear in appearance while the rest are pale yellow or pale brown.Their origin is as yet unascertained, but scientists believe that they are likely to have come from the Orange River south of Namibia or from the kimberlite pipes within the Angola Craton (covering portions of Angola, Namibia and Botswana).According to Reefton Mining N.L, “the presence of the high proportion of larger stones is significant and supports evidence that the diamonds were transported from inland sources by ancient rivers.”Reefton is a public company listed on the Australian Stock Exchange, and the Alternative Investments Market (‘AIM’) of the London Stock Exchange.It is actively exploring for diamonds, tantalite and precious and base metals within its tenement holdings located in both Namibia and Western Australia.Namibian projects include the Skeleton Coast Diamond Project, which consists of three Exclusive Prospecting Licences located at Henties Bay, Mowe Bay and Cape Fria in North Western Namibia that cover a total of 220 kilometres of diamond bearing beaches of Namibia’s Skeleton Coast.-NampaReefton’s diamonds were assessed at an extraordinary 89 per cent flawless with 97 per cent colourless to faint yellow.An additional 2 per cent are fancy yellow, which should attract a premium price, the company said.The company is apparently planning to scale-up the processing of diamondiferous gravels over the coming weeks to accelerate the bulk sampling activities to thus enable a resource calculation for the Mowe Bay sector in the first half of 2005 In February last year, Reefton announced that it had recovered 264 diamonds totalling 63,76 carats from Namibia’s Skeleton Coast.The diamonds then recovered, were 264 in number, averaging 0,24 Carats, from a 467-tonne fossil beach concentrate.The company took the concentrate from a 22km long section of the 220km Skeleton Coast beach, which is under its mineral title.The diamonds, dug from eight trench sites, were reportedly of high quality and exceptional size, the largest weighing 1,48 carats.The majority of recovered diamonds are reportedly white and clear in appearance while the rest are pale yellow or pale brown.Their origin is as yet unascertained, but scientists believe that they are likely to have come from the Orange River south of Namibia or from the kimberlite pipes within the Angola Craton (covering portions of Angola, Namibia and Botswana).According to Reefton Mining N.L, “the presence of the high proportion of larger stones is significant and supports evidence that the diamonds were transported from inland sources by ancient rivers.”Reefton is a public company listed on the Australian Stock Exchange, and the Alternative Investments Market (‘AIM’) of the London Stock Exchange.It is actively exploring for diamonds, tantalite and precious and base metals within its tenement holdings located in both Namibia and Western Australia.Namibian projects include the Skeleton Coast Diamond Project, which consists of three Exclusive Prospecting Licences located at Henties Bay, Mowe Bay and Cape Fria in North Western Namibia that cover a total of 220 kilometres of diamond bearing beaches of Namibia’s Skeleton Coast.-Nampa