Diamond Fields Announces Successful Conclusion of Initial Mining Campaign Offshore Namibia
TSX VENTURE: DFR
Vancouver, British Columbia--(Newsfile Corp. - January 14, 2019) - Diamond Fields Resources Inc. (TSXV: DFR) ("DFR" or the "Company") announces that the initial mining campaign on its ML111 licence area offshore Namibia has successfully concluded, as expected. A second parcel of diamonds recovered from ML111 as part of this initial campaign phase will be shipped in due course.
Final production figures for the initial campaign will be announced following Government evaluation and verification of production.
The Company and the operators will undertake a review of initial operational and financial performance following the sale of the diamond parcels, which is expected in the first quarter of 2019. The six months' (non-continuous) mining programme on ML111 is thereafter expected to recommence later in 2019.
As previously announced on December 20, 2018, an initial shipment of a 25,151.60 carat parcel of diamonds (gross weight unpolished rough diamonds as endorsed in the relevant Kimberley Process Certificate) were recovered from the ML111 licence during the first 25 days of mining, between November 11, 2018 and December 5, 2018. The shipment is undergoing independent valuation and initial sorting in preparation for sale through International Mining and Dredging Holdings (Pty) Limited which is operating the campaign on behalf of DFR via its subsidiary Nutam Operations (Pty) Ltd.
DIAMOND FIELDS RESOURCES INC.
SIGNED: "Sybrand van der Spuy"
Sybrand van der Spuy, CEO and Director
Contact: +27 78 4558700
Michael Oke/Andy Mills: +44 20 7321 0000
Aura Financial LLP: www.aura-financial.com
Notes to Editors:
DFR is a TSX Venture Exchange listed exploration and mine development company with assets in Madagascar and Namibia. In Madagascar, DFR is developing the Beravina Project, an advanced high grade hard rock zircon exploration prospect located in the west of the country, approximately 220km east of the port of Maintirano and near a state road. In Namibia, International Mining and Dredging Holdings (Pty) Limited is undertaking an initial six month (non-continuous) offshore diamond mining program on DFR's ML 111 licence area. The ML 111 concession has a ten year mining licence, effective until 4 December 2025, and lies within Luderitz Bay between Diaz Point in the south and Marshall Rocks in the north and at depths of 15 to 70 metres.
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.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Company's 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. The Company does not assume the obligation to update any forward-looking statement, except as otherwise required by law.