TO ALL
With the lack lustre of gold these day why not focus your attention on
diamonds.
Our company is called NORA EXPLORATION INC, trading on the montreal exchange under the symbol NXI.
We are the first junior trading on the ME to generate revenue from our
operations in Namibia.
The profile might seem long but please bear with me if you are looking
for a ground floor opportunity on the market.
We have gold and diamond concessions in Chile, Ghana and Namibia.
Our main focus in 1998 will be in Namibia.
Since diamond mining began in Namibia in 1908, the country has mined more than 70 million carats and today supplies approx. 30% of world output. According to an African consulting firm, the potential for gem diamonds off Namibia's shores has been estimated at approx. 1.5-3.0 billion carats. At US $320.00 per carat, Namibia has one of the highest diamond values in the world. The current conceptual model on offshore diamonds states that marine diamonds come from the erosion of upper assemblages of countless diamondiferous kimberlite pipes in the Southern African interior. Erosion of the diamondiferous pipes followed continental uplift and some 3.0 billion carats were freed approx. 25 million years ago. The diamonds were transported to the West Coast of Africa by a series of drainage systems that flowed into the sea in the vicinity of the Orange River.
1) One of Nora's contractual concession is OTJUA, located on the eastern shore of the Atlantic Ocean and stretch 140 KM along the Namibian coastline. They include the beaches from North Rock in the south to Gross Bucht in the North, are 100 meters wide above the high water mark, and extend five KM into the ocean. Under contract to NAMDEB Diamond Corp., OTJUA'S mineral rights are valid until 2019.
Namdeb is jointly and equally owned by the NAMIBIAN GOVERNMENT AND DE BEERS CONSOLIDATED MINES, the world's largest diamond mining company. Pursant to contractual obligations with NAMDEB, no quotas are imposed on production from the OTJUA concession and Namdeb is required TO PURCHASE ALL PRODUCTION IN A TIMELY MANNER, This arrangement assures early cash flow while avoiding the need for a costly marketing infrastructure.
Nora's independent report was prepared by Dr. Donald Sutherland, of Placer Analysis Limited, a world renowned alluvial diamond deposit geologist. In his report, Dr. Sutherland describes OTJUA's contractual concession in the following manner:
"First and foremost, this is an outstanding exploration opportunity in an area of proven diamond mineralisation with diamonds of very high quality (generally exceeding 90% gem quality) combined with a profitable mining concern with a five (5) year history of diamond production...as an order of magnitude, the diamond present in the area could be around 3-3,5 million carats... the inferred resource is equivalent to there being 20-25,000 carats per kilometer of coastline ... these numbers may be compared with the coast north of Oranjemund where there is of the order of 700 Km raised and present beach deposit that has an intensity of mineralisation of the order of 80,000 carats per kilometer average over all shoreline. Various comparisons lend credence to the gross inferred reserve on this coast and that if a minimum realizable diamond value of US $110 / ct is taken, then this places the inferred resources in the $510 million + category for the concession."
Moreover, in Dr. Sutherland's evaluation of the potential of the concession, he states that: "no consideration has been given to the wider potential in the offshore areas that could be realized by the development of the diver-support platform (Creepy Crawler) and no consideration has been given to the raised beaches that are known to occur around at least some of the embayments."
2) Nora's latest acquisition in Namibia is referred to as the second largest offshore diamond marine concession in southern Africa. The property consists of 23 deep-water concessions, each with an area of 1,000 square KM. They are considered a single block starting on the Namibia-South Africa border and extending northward along the outer edge of the continental slope. The southern part of the concession is adjacent to the western border of NAMDEB'S main set of concessions from which the great majority of DeBeers' offshore production is derived.
3) HOW DO THEY GET THE DIAMONDS FROM THE SEABED. A seabed crawler capable of deep-sea mining to a depth of 600 metres is used. The crawler has a powerful jet pump suction head that can lift up to 150 cubic metres (+/- 250 tons) per hour of solids in suspension to surface. The diamondiferous gravels, once pumped up to the the waiting mother ship, are then processed on a continuous basis. Material containing insignificant quantities of diamonds is pumped back to the ocean floor. Finally , the remaining high grade concentrate is sent to an X-ray recovery plant, where a sophisticated computer system extracts diamonds, utilising their characteristic of fluorescing under X-ray bombardment.
Sorry for going on so long, but is was necessary in order for you to appreciate the potential of our company in the coming months.
We can be contacted toll-free 1-888-666-3431, www.nora.com
Regards,
John |
