SOUTHERNERA RESOURCES LIMITED MARSFONTEIN JOINT VENTURE -
SOUTH AFRICA
- INITIAL COMMERCIAL PRODUCTION
- 68,000 CARATS RECOVERED IN FIRST 6 DAYS
- 99 CARAT DIAMOND RECOVERED
TORONTO, Sept. 8 /CNW/ - SouthernEra Resources Limited (SUF-TSE) is
pleased to announce the initial results of commercial production, which
started on 31 August, 1998, on the Marsfontein Joint Venture project (60% De
Beers, 40% SouthernEra) in South Africa.
68,004 carats of diamonds have been recovered from 7,928 tonnes, treated
during the first 6 days of plant operation, for a recovered grade of 858
carats per hundred tonnes. The production to date contains many special stones
above 10.8 carats including a 99 carat stone. The material currently being
treated is overburden overlying the M1 pipe where grades tend to be higher
than those in the primary kimberlite. The overburden is likely to be depleted
over the next two months.
In addition to the mining and treatment of the overburden, waste
stripping is continuing satisfactorily.
SouthernEra's independent valuator has placed an initial value of US$204
per carat on 21,958 carats of serie diamonds recovered from bulk sampling of
the overburden earlier in August. Serie diamonds are diamonds less than 10.8
carats in weight. While the parcel has a large average stone size which may
not be representative of the primary kimberlite, the high value is very
encouraging.
SouthernEra is extremely pleased with the performance of the treatment
plant and the way the Marsfontein Joint Venture is proceeding.
%SEDAR: 00004535E
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For further information: Christopher M.H. Jennings, President/A. Lee
Barker, Vice President/Kim Freeman, Chief Mining Engineer/Frank van de Water,
Chief Financial Officer/Nicholas Sayce, Investor Relations - Phone:
(416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com,
http://www. southernera.com |
