New Meta-Kimberlites Discovery Within Kango
New Meta-Kimberlites Discovery Within the Kango Diamond Project in
Gabon, Central Africa
Shares issued and outstanding: 112,279,101
TSX: SDM
AIM: SRE
TORONTO, ON, and LONDON, UK, Oct. 18 /CNW/ - SouthernEra Diamonds Inc.
("SouthernEra") (TSX: SDM, AIM: SRE) today reported the discovery of two new
meta-kimberlites within its 100% owned Kango diamond exploration permit area.
This brings the number of kimberlites and meta-kimberlites discovered by
SouthernEra in Gabon to 34, of which four are located in the Kango region.
SouthernEra Diamonds has actively explored for diamonds in Gabon since
1999, initially targeting the Kango area based on the area having unexplained
alluvial diamond occurrences and also being proximal to the Mitzic meta-
kimberlite discoveries. SouthernEra's reconnaissance exploration program
(completed in 2002) and subsequent follow-up sampling yielded abundant amounts
of the high interest kimberlitic indicator mineral spinel as well as a single
G10 garnet. Historic data relating to the Kango permit records one 1.25 carat
yellow diamond, and 97 white diamonds (totaling 12.9 carats) recovered from
the positive exploration drainage basins within which SouthernEra has
discovered meta-kimberlites. The most recent discoveries come from two
separate areas of the Kango permit area. The meta-kimberlite Obooue-001 is a
dyke at least 1m wide. Its strike extent (north-west) is currently unknown,
but expected to be about two kilometres. The meta-kimberlite Komo-003 is a
dyke at least 3m wide. In 2004, SouthernEra discovered two thin meta-
kimberlite dykes (Komo-001 and Komo-002) in the Kango region.
Commenting on the new discoveries, SouthernEra's Senior Vice President
Exploration, Howard Bird, said: "These new discoveries highlight the recent
exploration success we are currently enjoying both in Gabon and the Democratic
Republic of Congo. We are continuing to receive positive results after a
number of years of intensive exploration and are now entering the evaluation
phase in Gabon. We know that Gabon has high value alluvial diamonds; it is now
a question of us finding the bodies with the right economics. Indications are
that 2006 will be a decisive year for SouthernEra in Gabon on the diamond
front."
In addition to Kango, SouthernEra has three other diamond exploration
projects in Gabon; the 100% owned Sud project, the 95% owned M'bigou project,
and a 60% interest in the Makongonio JV project. The exploration team is
currently following-up on numerous stream sample kimberlitic indicator spinel
anomalies within the Makongonio JV permit. This permit has historically
produced the highest value and largest stone size alluvial diamonds in Gabon,
with gem-quality diamonds of over 50 carats being recovered. In late 2004,
eight meta-kimberlite bodies were discovered by SouthernEra within this permit
area, including the first known pipe (approximately 1 hectare in size) in
Gabon. Some of the dyke-like bodies have widths up to 21m, and sit within
meta-kimberlite structural emplacement corridors up to 15km in length. Two
bodies tested for micro-diamonds in 2004 were diamondiferous. Additional
meta-kimberlite discoveries are expected at Makongonio before the end of the
year. All recently discovered bodies will be tested for micro-diamonds. Those
that return positive results will be mini-bulk sampled in 2006 in an attempt
to recover macro-diamonds. A 10-ton mini-bulk sample has commenced on one of
the bodies at Makongonio, and will be treated within the next six months as
part of the ongoing evaluation program.
Mr. Uwe Naeher, Professional Geologist, is the qualified person, under
NI 43-101, responsible for the technical information in this release. The
samples for microdiamond recovery were analyzed using SGS Lakefields standard
caustic fusion diamond recovery method. SGS Lakefield is accredited by the
Standards Council of Canada to the ISO 17025 standard for specific registered
tests.
Gabon is one of six countries in which SouthernEra is engaged in
extensive diamond exploration. Others are Canada, Australia, the DRC,
Zimbabwe, and South Africa. The Company also maintains an 18 percent free-
carried interest in the Camafuca Diamond Project in Angola and operates the
Klipspringer Diamond Mine in South Africa.
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: SouthernEra Diamonds Inc., Howard Bird, Senior
Vice President Exploration, or Sharon Allan, Investor Relations, Telephone:
(416) 359-9282, Fax: (416) 359-9141, E-mail: inbox(at)southernera.com,
www.southernera.com; London Contact: Carina F. Corbett, 4C-Burvale Ltd,
44 (0) 20 7907 4761, 44 (0) 20 8949 7171, 07785 258 173,
corbett(at)4c-burvale.co.uk
(SDM. SRE)
Latest directors dealings
- 4 hours ago ASOS
- 4 hours ago MJ Gleeson
- 4 hours ago Rolls-Royce Holdings
- 5 hours ago Crest Nicholson Holdings
- 5 hours ago Naked Wines