Afri-Can Marine Minerals Corporation
TSX VENTURE : AFA

Afri-Can Marine Minerals Corporation

June 10, 2010 09:00 ET

Afri-Can Marine Diamond Sampling Results-New Higher Grade Discovery on Feature 8

MONTREAL, QUEBEC--(Marketwire - June 10, 2010) - Afri-Can Marine Minerals Corporation (TSX VENTURE:AFA) ("Afri-Can") today summarized the results of its successful sampling program completed on May 26, 2010 on its 70%-owned Block J marine diamond concession in Namibia. The first stage evaluation sampling program has been completed and has resulted in the recovery of 398 diamonds weighing a total of 48.65 carats. The quality of the diamonds is very high and is typical of the quality found off the coast of Namibia. The highlight of the program is the discovery on Feature 8 of a higher grade strip that extends for over 1.8 kilometres and warrants immediate further sampling in preparation for trial mining.

The program was divided into two phases. During the first phase, Features 8, 6, 17 and 19 (see attached map: http://media3.marketwire.com/docs/afaf0610.pdf) were sampled on an unbiased grid of 200 m x 400 m. A second phase was carried out in Feature 8, where in-fill sampling was done within the newly discovered higher grade strip. The in-fill sampling was carried out on a grid pattern of 100 m x 200 m.

The salient results, described for each feature, are as follows:

Feature 8, First Phase: On the mineralized area, 69 samples of 5 sq.m. have been extracted on a 200 m x 400 m grid. 18 samples contained 83 diamonds with an average weight of 0.12 carats. 11 samples contained more than 1 diamond and the best three contained respectively 24, 13 and 9 diamonds and intersected respective grades of 0.57, 0.31 and 0.21 carats per square metre. The three largest stones were 0.43, 0.41 and 0.36 carats. At this stage, the size and number of diamonds is far less important than the number of samples with multiple stones (2 or more). In this case, the samples with multiple diamonds have enabled the discovery of a higher grade strip that extends over 1.8 kilometres in length.

Feature 8, Second Phase: The second part of the program focused on the higher grade strip. Some 66 samples of 5 sq.m. each were extracted. 42 samples contained 278 diamonds with an average weight of 0.11 carats. 34 samples contained more than 1 diamond, and the best three carried respectively 33, 22 and 18 diamonds and intersected respective grades of 0.79, 0.52 and 0.43 carats per square meter. The three largest stones were 0.64, 0.61 and 0.37 carats. The fact that overall there were 18 samples containing more than 7 diamonds is highly significant and shows that we have definitely discovered a higher grade strip that extends for over 1.8 kilometres and seems to extend to the north of Feature 8. An important fact is that the two largest diamonds ever recovered on Block J, each weighing 0.64 carats, and several diamonds over 0.40 carats, were recovered on Feature 8. This indicates that larger diamonds do exist within the population and these will be recovered during future operations. Further sampling work and trial-mining on Feature 8 are highly justified.

Feature 6, First Phase: On the mineralized area, 78 samples of 5 sq.m. were extracted on a 200 m x 400 m grid. 22 samples contained 28 diamonds with an average weight of 0.21 carats. 5 samples contained more than 1 diamond and the best three contained respectively 3, 2 and 2 diamonds. The three largest stones were of 0.36, 0.31 and 0.30 carats. At this stage, the size and number of diamonds is far less important than the number of samples with multiple stones (2 or more). In this case, we found fewer samples with multiple diamonds than in Feature 8 but these were found in the same area at the end of the first sampling phase and showed that we have started to find concentration in one area. The fact that we found diamonds sparsely distributed over all of Feature 6 is very significant and shows that the Feature seems to be well mineralized. Further sampling work in Feature 6 is highly justified.

Feature 17, First Phase: On the mineralized area, 48 samples of 5 sq.m. were extracted on a 200 m x 400 m grid. 8 samples contained 8 diamonds with an average weight of 0.19 carats. No samples contained more than 1 diamond. The three largest stones were of 0.35, 0.33 and 0.27 carats. The fact that we found diamonds sparsely distributed over all the Feature 17 is very significant and shows that the Feature seems to be well mineralized. Further sampling work in Feature 17 is justified.

Feature 19, First Phase: On the mineralized area, 30 samples of 5 sq.m. have been extracted on a 200 m x 400 m grid. 1 sample contained 1 diamond weighing 0.14 carats. The fact that we found only one diamond is disappointing. However, the high quality of the gravels and geology implies that we will have to evaluate this Feature with care before deciding if further sampling work in Feature 19 is justified.

The diamonds have been weighed on land in the presence of an official of the Ministry of Mines and Energy of Namibia.

The results, data and geological logs from the 309 samples (291 evaluation samples and 18 exploration samples) will be analyzed and will enable the revision of the boundaries of the proved mineralized and potentially mineralized areas, detailed calculation of grades and revision of the boundaries of the higher, medium and lower grades sections, which will lead to the estimation of an inferred resource in certain areas and a new potential estimation in other areas. The estimation will be the object of a technical report in compliance with National Instrument 43-101 and will be completed in the next 3 months. The report will be prepared by Richard W. Foster and Zstar Mineral Consultants, both Qualified Persons under the terms of National Instrument 43-101.

Pierre Léveillé, President and CEO of Afri-Can, stated that, "We are delighted with the results of this first evaluation phase. We are now able to define an inferred resource on some parts of the mineralized area, and plan further development work on the Block J. The vessel, The Explorer, has proved its efficiency and we can plan to charter it again in the coming months."

The aim of the complete surveying and sampling program is to delineate diamond resources on Block J in compliance with National Instrument 43-101. Further to the delineation of an inferred resource, second sampling and/or trial mining programs will be designed in order to upgrade the inferred resource to an indicated resource and commence the delineation of mining blocks.

Afri-Can holds a 70% interest in Block J through a joint venture agreement with the licensee, Woduna Mining Holdings (Pty) Ltd.

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. 

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 unexplored prospective territories.

This press release contains certain "forward-looking statements," as identified in the Afri-Can's periodic fillings 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.

Shares outstanding: 177,887,484

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
    514-846-1435 (FAX)
    or
    Afri-Can Marine Minerals Corporation
    Bernard J. Tourillon
    Executive V.P. and CFO
    514-846-2133
    514-846-1435 (FAX)
    info@afri-can.com
    www.afri-can.com