Montreal-based
Afri-Can says three prominent areas may have a potential for diamond entrapment: a nearshore, 8-sq.-km sedimentary deposit; various bedrock trap sites within a 30-sq.-km area; and shallow depressions in a 10-sq.-km area extending from the coastline to 2 km offshore.
While the findings are based solely on digital side-scan sonar imagery, Afri-Can’s South African-based contractor, Marine & Coastal Geosciences, will also complete bathymetric and seismic interpretations within two months.
The next exploration phase will entail sampling targets.
Afri-Can has also begun a geophysical survey of the nearby block J and intends to collect 950 line-km of high-resolution geophysical data.
In November 2000, Afri-Can closed a private placement of 2 million units priced at 25 apiece, with each unit consisting of a share and a warrant entitling the bearer to buy another share for 36 over 18 months.
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