BRC DiamondCore’s third tender sale

BRC DiamondCore Ltd. announces the results of its third tender sale for diamonds from its Paardeberg East kimberlite and Silverstreams alluvial trial mining projects in South Africa’s Northern Cape Province.

Highlights:

1,909.19 carats in total were sold for US$2,492,715.

A 77.34 carat stone recovered from a Silverstreams high terrace channel trench, where bulk sampling has been under way for the last month, was sold for US$904,724 or US$11,698 per carat.

The recovery of the 77.34 carat stone reinforces the size frequency distribution plots of the diamond population recorded by the Company for the various sampling trenches; indicates a plot typical of a Middle Orange deposit; and confirms the presence of large diamonds in the distribution.

A 13.65 carat stone recovered at Silverstreams sold for US$518,180 or US$37,962 per carat.
The tender demonstrated continued strong average value (US$390.90 per carat) for the product from the PK5 kimberlite at Paardeberg East, where further geophysical work and delineation drilling is being undertaken.

As a result of the exploration results at Silverstreams, the metallurgical capacity will be increased by 50%, to deliver an expected proportional increase in production.
A 57% increase to US$2,511.19 per carat has been realized in the average value for all diamond product at Silverstreams since inception of sampling.

The average value for all diamonds recovered from Paardeberg East PK 5 since inception of sampling is US$381.06 per carat.

The diamond analysis data, independent diamond valuations and price received for the tender will be used to underpin the economic metrics of both projects.

The services of an independent diamond consultant, Mr. Ramon Ferraris of QTS-Kristal Dinamika, are retained to audit the bulk sampling plants, bulk sampling process and diamond analysis of both projects. The tender diamonds were prepared and overseen by Mr. Ferraris and an additional independent technical diamond consultant to the Company, Mr Maurice Barker.

Source : http://www.brc-diamondcore.com/

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