CAPE TOWN, Oct. 9 /CNW/ - Diamond Fields International Ltd. (DFI:TSX)
("DFI" or the "Company") announces improved diamond production after seasonal
downturn from marine diamond mining joint operations ("JO") with Bonaparte
Diamond Mines NL ("Bonaparte"), latest sales result and the start of resource
development sampling this month.
Production and sales
As anticipated, marine diamond production from the JO mining area in
DFI's ML111 licence off Luderitz, Namibia, has improved. This follows the
recoveries of the previous two months which were seasonally affected by winter
conditions. Production for the month of September was 1,618 carats from 4,060
diamonds with an average size of 0.40 carats/stone.
As a result of the impact of poor weather on the equipment in the
preceding month, mining in September was largely confined to a single airlift
operation. Though production capability is reduced with only one airlift
operating, working costs are reduced as a result of lower fuel consumption.
However, good progress has been made to return both mining systems to full
availability for ongoing operations. Better recoveries are expected to
continue in October as a result of improvements in both weather and mining
capacity. To 30 September 2007 total production from the JO area now stands at
16,245 carats from 37,963 diamonds at an average size of 0.43 carats/stone.
The latest parcel of 1,271.27 carats was sold last week and realized
US$272,637 at an average price of US$214.46 per carat. Sales of production
under the JO up to September 18, 2007 comprise a total of 15,566 carats
realizing US$3,411,469 at an average price of US$219.16 per carat.
2007 Marine Sampling Programme
Commencement of the resource development sampling programme announced in
a news release dated September 6, 2007 is scheduled for late October. The
sampling vessel MV Douglas Bay, chartered by Bonaparte from De Beers Marine
(Pty) Ltd, is being mobilised in Cape Town. This vessel was used successfully
in 2006 to define the initial JO mining resource of 63,000 carats. The
sampling programme will run for a period of 35-50 days depending on results.
This will again incorporate an intensive programme of grid-based sampling
which will be focused on substantially increasing the mining resource adjacent
to current mining areas in ML111.
Roger J. Daniel, B.Sc. (Hons) Geology, London, Pr.Sci.Nat., the Company's
President and CEO, who is a Fellow of the South African Institute of Mining
and Metallurgy (SAIMM), is also a registered geological scientist with the
South African Council for Natural Scientific Professions (SACNASP), and is
thus a Qualified Person in terms of National Instrument 43-101, has compiled
and reviewed the scientific and technical information contained in this News
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and CEO
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in Diamond Fields' periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Diamond Fields does not assume the obligation to update any forward-looking
For further information:
For further information: Roger Daniel at +27 21 425 1990, Website: