Trivalence increases ownership in Aredor concession

DIAMOND PAGE — Trivalence Mining (TMI-V) has increased its stake in the Aredor diamond concession in the West African country of Guinea after reaching an out-of-court settlement.

The Vancouver-based junior has increased its interest in the concession to 85% from 59.5% by paying US$1.2 million to a group of companies led by former partner Consolidated African Mining, Consolidated African Diamonds and Barkers Metal and Mining. The government of Guinea retains a 15% interest in the 1,000-sq.-km property.

Trivalence has spent more than a year test-mining diamondiferous gravels at the past-producing Aredor mine, using a dual 8-ft. pan plant. In 1997, the plant recovered 16,570.24 carats from 262,473 tonnes of alluvial material. A total of 527 diamonds each weighed more than 5 carats, for a combined weight of 4,499.12 carats, representing 27% of the production.

In addition, a 14-ft. tailings plant processed 27,633 tonnes of tailings last year. A total of 539 diamonds weighing 444.39 carats was recovered, including a 70.1-carat stone. During 1997, a total of 12,692.76 carats was sold for US$8.5 million, including US$2.8 million for the 70.1-carat stone.

Trivalence is expected to begin commercial production early this year. The company recently began a 9-hole delineation drilling program on the K-7 kimberlite, the largest of 11 known kimberlites on the concession, with a surface area of 9.5 ha.

Print

Be the first to comment on "Trivalence increases ownership in Aredor concession"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close