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Diamond Fields signs eight-month extension to Beravina Project agreement

02 october 2020
News
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Image credit: DFR

Diamond Fields Resources (DFR) has agreed on an eight-month extension to its Beravina zircon project agreement with TMH Acquisition due to ongoing travel and operational restrictions resulting from the COVID-19 pandemic.
The extension was also due to the anticipated impact of the rainy season in Madagascar preventing the company from advancing the project within the expected timeframe.
The deadline for DFR to complete the first phase and commence the second phase has now been extended from 30 September 2020 to 31 May 2021.
The agreement required DFR to undertake further exploration work to locate potential new mineral deposits or extensions to the existing deposit.
If successful, the company has the option to engage in a drilling campaign on the project to delineate such deposits.
DFR also said that if work on the second phase does not commence by 31 May 2021, then the agreement will be terminated.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished


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