Afri-Can: Geophysical Survey Delineates New Targets on EPL 3403 Marine Diamond Concession
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 11/07/12 -- Afri-Can Marine Minerals Corporation ("Afri-Can") (TSX VENTURE: AFA) has completed its analysis and interpretation of the geophysical survey on Exclusive Prospecting Licence ("EPL") 3403 marine diamond concession in Namibia.
Survey analysis highlights are:
The geophysical survey completed in May 2012 has recovered a total of 1,519 line-kilometres of high resolution Sparker and TOPAS seismics as well as 480 line-kilometres of multibeam echosounder data. The survey covered approximately 123 square kilometres in the south end of EPL 3403, representing 15% of the concession area, which measures 800 square kilometres. Notably, 94.7 square kilometres or 77% of the 123 square kilometres show a sediment thickness over bedrock footwall of less than 10 metres, which is well within the penetration parameters of the sampling tool of the MV DP The Explorer, recently contracted for the upcoming sampling program.
The geophysical survey covered Depositional Areas 1, 2 and 3 delineated following previous sampling programs (see map attached) as well as new target areas.
The key points of the analysis are as follows:
The November sampling program details will be disclosed in a separate press release.
Bob de Decker (M.Sc., Pr.Sci. Nat.) is the author of the geophysical survey analysis report and is responsible for the technical part of this press release. He is the designated Qualified Person under the terms of National Instrument 43-101.
EPL 3403 covers approximately 800 square kilometres and is adjacent to the north of the Atlantic One Mining Lease ("ML") 47 owned by Namdeb Diamond Corporation (Pty) Limited, a 50:50 partnership between the Government of the Republic of Namibia and De Beers Centenary AG (see attached map). ML 47 is the largest marine diamond deposit in the world and is currently producing in excess of 1,100,000 carats per year.
On another matter, the Board of Directors has granted options to purchase 250,000 common shares at 20 cents per share to one Director of the Corporation. The options are issued in accordance with Afri-Can's Long Term Incentive Plan, and are exercisable until November 7th, 2015.
A map associated with this press release is available at this address :
About Afri-Can Marine Minerals Corporation
Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's creative and scientific approach targets large marine diamond deposits in prospective territories.
Shares outstanding: 83,277,864
This press release contains certain "forward-looking statements," as identified in the Afri-Can's periodic filings 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.
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.
Contacts:
Pierre Leveille
President & CEO
(514) 846-2133
TOLL FREE North America: 1 (866) 206-7475
(514) 372-0066 (FAX)
Bernard J. Tourillon
Executive V.P. and CFO
(514) 846-2133
TOLL FREE North America: 1 (866) 206-7475
(514) 372-0066 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 07.11.2012 - 14:30 Uhr
Sprache: Deutsch
News-ID 200560
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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"Afri-Can: Geophysical Survey Delineates New Targets on EPL 3403 Marine Diamond Concession"
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Afri-Can Marine Minerals Corporation (Nachricht senden)
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