Increased Resource Statement Gives Kareevlei a 10-Year Life
February 11, 21
(IDEX Online) - BlueRock Diamonds says its Kareevlei mine, in South Africa, has a 10-year life after an updated resource statement indicated a a 53 per cent increase in net carats.
The UK-based miner now says mine should yield 516,200 carats, compared to a 2018 estimate of 337,018 carats.
It provides detailed breakdown of the five known diamondiferous kimberlite pipes (KVW01-5) at its deposit.
"The major change to the mineral resource in this update is the significant increase in the surface area of the KVW01 pipe and its proven extension to depth as a result of the mapping and geological drilling programme," it says.
BlueRock indicates a 49 per cent rise in net tonnes from about 7m tonnes in 2018 to 10.36m tonnes - or around 1m tonnes a year.
Executive chairperson Mike Houston said: "I felt it appropriate to upgrade a significant tonnage of our resource from Inferred to Indicated. This re-categorisation further strengthens our confidence in Kareevlei's future."
Pic shows the Kaareevlei processing plant