THE DIAMOND PAGE — Sonora sells diamond parcels from African mine

A diamond venture in South Africa is providing a new focus for Sonora Gold (SON-T), a junior previously active in gold exploration in California.

Sonora recently acquired Windsorton Mining, which, in turn, owns the Klipdiam-Holpan diamond mining venture, now in production. The project is an alluvial operation, with diamonds recovered from an old river bed and floodplain in the Kimberly region.

Production to date has included two, high-quality gems in the mid-30-carat range, as well as a significant number in the 5-to-15-carat range. Two parcels of stones have been sold to date, at average prices of US$600 per carat.

At the mine site, the second phase of the Holpan diamond recovery plant is under construction. It is expected to be commissioned in the first quarter of 1997, thus bringing the operation to planned production levels.

Sonora Chairman Patrick Downey says the operation is targeted to produce about 14,000 carats annually for about 14 years. “However, we may consider an expansion,” he adds.