Company Press Release
Trivalence Mining Corporation -- 6,890 Carats Sell for US$4.3 Million
VANCOUVER, Canada--(BUSINESS WIRE)--May 24, 2000--Trivalence Mining Corporation (CDNX:TMI - OTC BB:TMIGF) The Company is pleased to report sales figures from its most recent diamond sale held on May 22, 2000 in Conakry, Guinea. A total of 6,889.81 carats of rough diamonds sold for US$4,301,688.
The sale consisted of 5 parcels containing 3,681.70 carats of gem quality diamonds which sold for US$4,034,948 for an average of US$1,095.95 per carat and 1 parcel containing 3,208.11 carats of near gems which sold for US $266,740 for an average of US$83.14 per carat. Among the gem quality diamonds was a special pink diamond weighing 16.91 carats that sold for US$778,000 or US$46,008.80 per carat. The sale represented recent production from blocks in the neighbourhood of the K23 kimberlite on the Aredor concession. The diamonds sold were produced at the Company's 1,000 square kilometer Aredor diamond mine located in Guinea, West Africa.
Aredor K23 Kimberlite Update:
Regional sampling, stripping and trenching continue as part of the Company's K23 kimberlite exploration program at its Aredor diamond mine in Guinea, West Africa. Drill data has confirmed a kimberlite body that covers an approx. area of 5.2 hectares (52,000 square meters). It remains open to one direction and to depth past 77 meters. The Company is encouraged by the diamond counts returned to date from four samples processed by Lakefield Research Ltd., an independent Canadian laboratory. All four samples returned macrodiamonds. The Company will continue with a series of step out holes combined with infill holes in order to define the surface limits of the K23 pipe. In addition to the drilling program, the Company has started stripping the 1.5 meter laterite cap in order to expose kimberlite for a planned 10,000 tonne bulk test.
The bulk testing program is designed to obtain a representative sample of diamonds in determining grade and diamond value. The bulk test is scheduled to take place in the first two weeks of June, 2000. It will be processed through the Company's existing facilities at Aredor and will be scrutinized by an independent engineering firm.
Trivalence Mining Corporation is a fully reporting Company with a commercial diamond mine on the Company's 85% owned Aredor diamond concession in the Republic of Guinea, a 50% interest in the Palmietgat kimberlite project, South Africa, and prospecting licenses in the Kokong kimberlite field, Botswana.
The Company relies upon litigation protection for ``forward looking'' statements.
The Canadian Venture Exchange neither approves nor disapproves of the contents of this News Release.
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Contact:
Trivalence Mining Corporation
Warren Robb or Omer Nizami
Phone: 604/684-2401
Website: www.trivalence.com
Toll Free: 1-888/273-3671
Email: tmi@intergate.bc.ca
Facsimile: 604/684-2407
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