Diamond Fields Announces Second Diamond Shipment from Namibia
TSX VENTURE: DFR
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2019) - Diamond Fields Resources Inc. (TSXV: DFR) ("DFR" or the "Company") is pleased to announce the shipment of a 22,166.81 carat parcel of gross weight unpolished rough diamonds as endorsed by the Namibian Ministry of Mines and Energy.
The diamonds, which were recovered from the ML111 licence offshore Namibia between December 6, 2018 and January 11, 2019, have been shipped to Europe for independent valuation, processing and final sorting (whereby they will be mixed with those previously shipped in December) in preparation for sale during February 2019.
In total, 47,318.41 carats of diamond were exported from Namibia, after 65 days of mining between November 10, 2018 and January 13, 2019 ("the Period").
As per the announcement of October 3 2018, DFR will now commence a review of operational performance during the Period with International Mining and Dredging Holdings (Pty) Limited, which operated the campaign via its subsidiary NUTAM Operations (Pty) Ltd.
Information obtained during the Period will be used to determine the future mine plan in order to optimize potential returns from the ML111 resource. The remainder of the initial six months (non-continuous) mining program is expected to resume later in 2019.
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.