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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: gemsearcher who wrote (5230)	12/22/1999 8:41:00 AM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 7235

Here it is: Progress report Klipspringer and Camafuca TORONTO, Dec. 22 /CNW/ - SouthernEra Resources Limited (SUF-TSE) is pleased to report on recent progress on its Klipspringer project in South Africa and its Camafuca project in Angola. South Africa -- Klipspringer (100%) ---------------------------------- At the Klipspringer fissure mine, the recorded grade for the month of November averaged 41.6 carats per hundred tonnes (cpht). Feed to the plant included both fissure development and fissure stoped material. As the percentage of stoped fissure material fed to the plant increases in future it is expected that recovered grades will attain the predicted level of approximately 50cpht. Two mining methods are currently being employed, shrinkage stoping and sub-level open stoping. This latter lower cost method is a first for fissure diamond mining, and is used where the fissure has a consistent width. The first parcel of 8,300 carats was sold for US $101.57 per carat. Current production is planned to reach 20,000 tons per month by March 2000. Angola -- Camafuca Project ( 51% ) ---------------------------------- The first bulk sample to be fully completed (Pit T-99-1) gave an average grade of 0.31 carats per cubic metre, yielding 1081.17 carats from the 3544 cubic metres treated. This represents a significant increase in grade over historical large diameter drill hole results from the same area. The improved grade results from the recognition and rectification of a metallurgical recovery problem which required retreatment of the tailings from the plant. Tailings from all other pits are also being retreated, and initial results indicate similar encouraging increases in grade. A 1984 resource estimate, by previous operators, using data for bulk sample work covering about 60% of the pipe, indicated a total resource of 13.5 million carats at a grade of 0.15 carats per cubic metre (cts/m3), to a depth of approximately 80 metres below surface. Within this overall estimate, four smaller areas within the pipe were calculated to contain 8.7 million carats at a grade of 0.30 cts/m3, and of two of these blocks contain a higher grade resource of 4.8 million carats at a grade of 0.43 cts/m3. Recent valuations of a 1514.75 carat parcel (including the production from T99-1), recovered from the current bulk sample program ranged from $126-$140 per carat. 31.6% of the diamonds are over 1 carat in weight, and 21.2% are over 2 carats in weight in this parcel. The testing of bulk sample material will continue in the new year, and a complete technical and economic evaluation will be completed by April 2000. SouthernEra Resources Limited is a Canadian based resource company, with an excellent portfolio of producing, and advanced level exploration properties and projects in South Africa, Zimbabwe, Brazil, Angola and in Canada's Northwest Territories. SouthernEra's strategic goal is to become a leading diamond and platinum producer. More information can be obtained through the Company's website, www.southernera.com %SEDAR: 00004535E For further information: Christopher M. H. Jennings, President, Phone: (416) 359-9282; A. Lee Barker, Senior Vice President, Fax: (416) 359-9141, e-mail: inbox@southernera.com, www.southernera.com PHIL