Afri-Can Marine Minerals has reached an agreement with International Mining and Dredging Holding (IDMH) to start a geophysical survey on its Exclusive Prospecting Licence 3403 marine diamond concession, in Namibia.
The survey would cover 90 square kilometres in the south end of EPL 3403 and would cover Depositional Areas 1, 2 and 3 already delineated by previous sampling programmes.
Afri-Can had also chartered the vessel SP Star from IMDH to carry out a geophysical survey that would cover a maximum of 1,400 line-kilometres.
The goal of the geophysical survey was to model accurately the geology and delineate the boundaries of the deposits in order to prepare for a second sampling phase.
The second sampling phase would allow resources estimation in anticipation of subsequent trial mining.
EPL 3403 covers approximately 800 square kilometres and was adjacent to and north of the Atlantic One Mining Lease 47 (owned by Namdeb), largest marine diamond deposit in the world.
ML 47 currently produces in excess of 1,1 million carats per year.
Afri-Can holds an option to acquire 100 percent of the shares of Thyme Investments, the owner of 100 percent of EPL 3403.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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