Preliminary production off the coast of Namibia is turning up higher grades for partners
The partners report that recent surveys over mining licence 111 have recovered three times as many stones as previous ones. Specifically, an average of 5 carats were recovered from each square metre of trenching, versus 1.7 carats.
“This confirms the presence of high-grade pockets of diamonds within a backround of mineable grades,” states Trans Hex director Andre Louw.
Over 6,000 carats have been recovered in the past three months, adding to the more than 10,000 carats picked in the previous two years. Trans Hex is managing the project in exchange for a portion of the production proceeds. The project’s internal rate of return had been predicted at 46% in an independent feasibility study completed earlier this year, but this assumes a costlier dredge-and-pump operation and no enriched pockets.
The Ivan Prinsep airlift vessel is currently at sea, but will soon sail for waters not included in the joint venture. A replacement, which is being fitted with a more powerful airlift system and a bigger plant, will leave port in early November and be followed by another vessel within a year. Mining is focused on the Marshall Fork feature, which is described as a river or stream channel. The sediment cover thickens from 1 to 4 metres to the south; however, this is not expected to impede production.
Resources are pegged at 6.1 million cubic metres containing 1.1 million carats (including 81% defined as probable reserves).
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