DIAMOND PAGE — United Reef expanding reserves in CAR

A $2.5-million exploration program on the Bamingui River diamond property in the Central African Republic is under way, reports United Reef (URP-T).

Trans Hex Group of South Africa, which holds a 35% interest in the property, is providing funding for the program. The partners hope to expand known reserves of diamond-bearing gravels on at least three river systems within hauling distance of their 30-tonne-per-hour processing plant.

United Reef believes each river has the potential to host diamond reserves in the order of 150,000-200,000 carats. The Bamingui River is estimated to contain a reserve of 165,000 carats.

Bulk sampling is under way at the Bangoran River, where United Reef has drilled 132 percussion holes. The company believes those diamonds will have a value similar to that of the Bamingui River gems, which fetched an average of US$188 per carat in the second quarter of this year.

After finding free gold on its jig screens, United added a gold recovery circuit to the diamond recovery plant at Bamingui. Recently, a gold-bearing concentrate was shipped to Lakefield Research in Ontario for grade analysis.