New Dwyka diamond discovery

06 February 2006 | 05:29 Code : 7856 Geoscience events
visits:53
The company said the diamonds were discovered at a volcanoclastic body...
DUAL-listed Dwyka Diamonds says it has discovered a new diamondiferous body at its Bosele project in South Africa, with two bulk samples recovering 48 diamonds from 420 tonnes of material.
The company said the diamonds were discovered at a volcanoclastic body that has a surface expression with a length of around 3km and a width of 1.5km.Dwyka said bulk testing proves the body to be diamondiferous, and apart from diamond recovery, fragments of Group II kimberlite, peridotite nodules and a whole suite of kimberlitic indicator minerals have been discovered.The two bulk samples, the first undertaken by Dwyka personnel and the second undertaken by an independent consulting geologist both recovered macro-diamonds. The Bosele project covers around 1100 hectares in the Bellsbank area which is located north west of Kimberley in South Africa. The project is a joint venture between Dwyka (70%) and black economic empowerment group, Kolong Investment Holdings (30%).Shares in the ASX-AIM listed Dwyka hit a 52-week high of 99c in April before slipping to a 52-week low of 58c last month. The stock remained unchanged at 62c during morning trade

tags: QAZVIN


Your Comment :