Afri-Can Marine Minerals Corporation

Afri-Can Marine Minerals Corporation

March 23, 2011 09:44 ET

Afri-Can Discloses Sampling Program Details and Schedule

MONTREAL, QUEBEC--(Marketwire - March 23, 2011) - Afri-Can Marine Minerals Corporation ("Afri-Can") (TSX VENTURE:AFA) announces that it will start its diamond-sampling program on the EPL 3403 Marine Diamond Concession in Namibia on / or about March 25th, 2011. The aims of the program are to start delineating the diamond potential of the Southern portion of EPL 3403, and to prove diamond presence and find areas of diamond concentration in the Northern region. The program is planned to last between 25 days and 30 days.

The program is designed to extract a minimum of 250 samples of 5 square meters each. A minimum of 185 samples will be taken in the Southern area, within which 5 separate targets have been delineated (see map 2 attached). The Southern targets cover an area of about 23 square kilometers. A minimum of 65 samples will be extracted in the Northern region, which has been divided into 3 targets (see map 2) covering an area of about 350 square kilometers.

Previous sampling programs recovered 33 diamonds weighing 14.07 carats from 24 positive samples in the Southern region. 15% of the diamonds were larger than 1 carat and the four largest weighed 1.15, 1.17, 1.73 and 2.69 carats respectively. Multiple stones were found in 5 samples, one of which contained 6 diamonds.

In target 1 in the Southern region the samples will be spaced 125 metres apart on lines spaced at 250 metres and 250 metres apart on lines spaced at 500 metres in targets 2 and 3. In the remaining targets in the south the samples will be spaced 500 metres apart on lines spaced at 500 metres. The sampling program will be carried out by the vessel mv DP The Explorer, a dedicated sampling vessel, which can sample down to depth of 200 metres and can extract up to 21 samples per day. The sample size is 5 square metres, and the tool can sample down to 12 metres below the sea floor.

EPL 3403 covers approximately 800 square kilometres and is adjacent to the north of the Atlantic One Mining Lease ("ML") 47 (owned by Namdeb Diamond Corporation (Pty) Limited, a 50:50 partnership between the Government of the Republic of Namibia and De Beers Centenary AG), which is the largest marine diamond deposit in the world (see attached map). ML 47 is currently producing in excess of 1,100,000 carats per year.

Mr. Richard W. Foster is responsible for the technical part of this press release and is the designated Qualified Person under the terms of National Instrument 43-101.

To view the maps associated with this press release:

About Afri-Can Marine Minerals Corporation

Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's creative and scientific approach targets large marine diamond deposits in prospective territories.

This press release contains certain "forward-looking statements," as identified in the Afri-Can's periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Afri-Can Marine Minerals Corporation
    Pierre Leveille
    President & CEO
    514-846-2133 / TOLL FREE North America: 1-866-206-7475
    514-372-0066 (FAX)
    Afri-Can Marine Minerals Corporation
    Bernard J. Tourillon
    Executive V.P. and CFO
    514-846-2133 / TOLL FREE North America: 1-866-206-7475
    514-372-0066 (FAX)