Drilling Report
SouthernEra Diamonds Completes Airborne Geophysical Surveys and
Commences Airborne Kimberlite Target Follow-Up in the
Democratic Republic of Congo(DRC)
Shares Issued and Outstanding: 85,380,418
TSX: SDM
AIM: SRE
TORONTO, Oct. 27 /CNW/ - SouthernEra Diamonds Inc. ("SouthernEra")
(TSX: SDM, AIM: SRE) announced today that three separate airborne geophysical
surveys have been completed over three of the Company's seven primary
kimberlite projects in the Democratic Republic of the Congo (DRC). Ground
follow-up of airborne kimberlite pipe-like targets has now commenced.
Since 2003, SouthernEra has secured an excellent portfolio of exclusive
diamond exploration permits covering 13,614 square kilometers located within
the diamond-rich Kasai Provinceof the DRC. The majority of permits lie within
a 'kimberlite emplacement corridor', underlain by Archean basement
granite-gneiss of the Congo Craton, which extends from the DRC southwest into
the renowned diamond producing Lunda Norte Province in neighboring Angola.
This kimberlite emplacement corridor is considered the world's most
prospective and largest new exploration opportunity. The known kimberlites in
the region are of exceptional size and grade and the potential for new
diamondiferous kimberlite discoveries in this region of the DRC is rated very
high.
In June 2003 the DRC Mining Registry (Geological Survey) was opened for
the first time under the new World Bank sponsored Mining Code (Law 007/2002).
The new Mining Code has encouraged renewed interest on the part of diamond
mining and exploration companies in the DRC, including the major producers
De Beers and BHP-Billiton. The implementation of the new Mining Code, led by
the Ministry of Mines and the Mining Registry, has been carried out in an
efficient and transparent manner. In the case of diamond exploration, the
Mining Code gives permit holders exclusive rights for a period of four years,
renewable for two additional two-year periods. On discovery of an economically
viable deposit, the holder can automatically apply for a mining permit (Permit
of Exploitation).
In mid-October, SouthernEra completed over 43,000 line-kilometres of
airborne magnetic and radiometric geophysical surveys under contract with
Fugro Airborne Surveys (Pty) Ltd. The surveys covered 21 of SouthernEra's 41
exclusive diamond exploration permits. These 21 permits collectively comprise
3 separate primary kimberlite project areas. The three project areas are
focused in the diamond-rich Kasai-Oriental Province which has produced two of
the 'top-ten' largest gem quality diamonds in the world and in the mid-1980's
was producing up to 20 million carats of diamonds per year.
SouthernEra has received preliminary airborne data for the first of the
three airborne blocks. From this data numerous kimberlite pipe-like dipolar
magnetic targets have been defined. The anticipated quick generation of
kimberlite targets by means of this airborne survey has enabled the immediate
commencement of ground follow-up of the airborne targets.
Preliminary data from the remaining two blocks is expected by
mid-November. In addition to the three permit areas tested with airborne
surveys, SouthernEra also has four further separate primary kimberlite diamond
projects within the Kasai Province. These permit areas will be stream-sampled
to test for kimberlitic mineral indicators, with consideration being given to
conducting airborne geophysical surveys over these permit areas in early 2005.
In addition to the abovementioned primary kimberlite projects,
SouthernEra has also secured high interest alluvial diamond permits within the
Tshikapa/Kasai/Luebo alluvial diamond field in the Kasai Occidental Province
and also within a second major alluvial diamond field in the Kasai-Oriental
Province. These permit areas collectively constitute seven separate alluvial
projects. SouthernEra has to date completed a review of the alluvial diamond
potential within these permit areas and is currently planning for the
commencement of a systematic alluvial exploration program in early 2005. The
bulk of high value diamonds mined in the DRC come from alluvial sources,
including active river channels, alluvial flats and river terraces. These
areas will be the targets of SouthernEra's 2005 alluvial exploration program.
Uwe Naeher, Professional Geologist, is the qualified person, under
NI 43-101, responsible for the technical information in this release.
++++++++++++++++
The DRC is one of five countries in which SouthernEra is engaged in
diamond exploration. Others include Canada, South Africa, Gabon, and
Australia. This represents the fourth most active global diamond exploration
program after the majors DeBeers, BHPB and Rio Tinto. The Company also
operates the Klipspringer Diamond Mine in South Africa and maintains an
18 percent free-carried interest in the Camafuca Diamond Project in Angola.
Some statements contained in this news release are forward-looking and,
therefore, involve uncertainties or risks that could cause actual results to
differ materially. Such forward-looking statements include comments regarding
exploration work. Actual results could differ materially from those
anticipated. The Company disclaims any obligation to update forward-looking
statements.
For further information: please contact SouthernEra Diamonds Inc.,
Howard Bird, Vice President Exploration, or Sharon Allan, Investor Relations,
Telephone: (416) 359-9282, Fax: (416) 359-9141, e-mail:
inbox(at)southernera.com
(SDM. SRE)
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