Afri-Can Marine Minerals Corporation
FRANKFURT : AJF
TSX VENTURE : AFA

Afri-Can Marine Minerals Corporation

June 08, 2007 09:52 ET

Afri-Can Marine Minerals Update

MONTREAL, QUEBEC--(Marketwire - June 8, 2007) - Afri-Can Marine Minerals Corporation ("Afri-Can")(TSX VENTURE:AFA)(FRANKFURT:AJF) has been informed by International Mining and Dredging Holding Ltd. (IMDH) that conversion of the sampling vessel is proceeding well in Singapore, with completion expected at the end of 2007, at which time the vessel will move to Namibia to begin sampling Afri-Can's Block J marine diamond concession. The final schedule for beginning the bulk-sampling program will be established at the end of August 2007.

The new vessel, DP Sampler with a length of 105 metres, is equipped with a 20 tons per hour Dense Media Separation plant and will use a full Dynamic positioning II system. The sampling tool is a 5 square metre sampling drill system capable of sampling at water depths of 250 metres and through 12 metres of overburden material, well in excess of Afri-Can's requirements.

In the meantime, analysis and interpretation of the data from the geophysical survey and vibra-core sampling program carried-out in November 2006 is well underway. A first report covering mainly the targeted area known as Feature 6 is scheduled to be available at the end of June 2007. The report will include high-resolution seabed topography maps, detailed seabed textural maps, sub-seabed sediment data, and in-situ geological data from vibra-cores. The report will also include conclusions about the size of the deposit and the planning for the resources delineation sampling program that will be carried-out by IMDH. The aim of the complete program is to delineate diamond resources on Block J in compliance with National Instrument 43-101.

The previous report based on earlier sampling technology (see press release dated January 31st, 2007) recommends continuation of exploration work on Block J. The report states that modern and more accurate sampling technology will indicate higher grades than those shown by the Phase 1 and Phase 2 sampling. To simulate this, applying the average recovered grade of the best 20% of the samples (0.146 carats per sq. m.) the report suggests a potential diamond content of 1,600,000 carats for Block J's lag-gravels adjacent to the outcrop of the basal Tertiary sediments. The report recognizes further potential on Block J in the other geological environments described in the report. The report is available on the SEDAR website at www.sedar.com.

"We are pleased with the progression of the work and look forward to the successful completion of the resources delineation program," commented , President and CEO of Afri-Can. "We are also very pleased with the new sampling vessel's specifications. It is packed with the most up to date technology and is built to perform to a very high standard."

Statements of potential quantity are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Mr. Richard W. Foster is responsible for the Delmar Geoservices Ltd. report and is the designated Qualified Person in terms of of NI 43-101. Delmar Geoservices Ltd. has given its approval to the reference to the Delmar Geoservices Ltd. report and information derived therefrom in this announcement in the form and context in which it appears.

Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's large and prospective license holdings, together with its growth strategy, place it as the partner of choice for Namibian Empowerment Groups.

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.

The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Afri-Can Marine Minerals Corporation
    Pierre Leveille, President & CEO
    Bernard J. Tourillon, Executive V.P. and CFO
    514-846-2133
    514-846-1435 (FAX)
    info@afri-can.com
    www.afri-can.com