UPDATE TO SHAREHOLDERS – MONASTERY KIMBERLITE PROJECT
Shareholders are referred to the previous update to shareholders announcements relating to the progress at the Company’s Monastery Kimberlite project in the district of Marquard of the Free State Province, the last of which was contained in the SENS announcement of the Company’s Interim Financial Statements for the period ended 31 August 2011 released on 9 December 2011.
Resource Statement - Monastery Mine Proprietary Limited (“Monastery Mine”)
Diamond and Mineral Resource Category |
Depth below surface |
Mt |
Grade
(bottom cut-off screen size of 2mm) |
Rough Diamonds |
Ilmenite mineral |
Semi-precious stones# |
|
m |
|
|
carats |
t |
kg |
Monastery Kimberlite pipe |
|
|
|
|
|
|
Measured |
0 - 100 |
1.70 |
25 cpht* |
425 000 |
|
|
|
|
|
5% |
|
85 000 |
|
|
|
|
200 kg/ht** |
|
|
34 000 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
Indicated |
101 - 300 |
2.30 |
25 cpht |
575 000 |
|
|
|
|
|
5% |
|
115 000 |
|
|
|
|
200 kg/ht |
|
|
46 000 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
Inferred |
301 - 500 |
2.00 |
25 cpht |
500 000 |
|
|
|
|
|
5% |
|
100 000 |
|
|
|
|
200 kg/ht |
|
|
40 000 |
|
|
|
|
|
|
|
Total |
0 - 500 |
6.00 |
|
1 500 000 |
300 000 |
120 000 |
| |
|
|
|
|
|
|
Monastery Kimberlite fissure |
|
|
|
|
|
|
Exploration information |
Outcrop only |
- |
Reported 18cpht |
- |
- |
- |
| |
|
|
|
|
|
|
Laura
Kimberlite blow |
|
|
|
|
|
|
Exploration information |
Outcrop only |
- |
unknown |
- |
- |
- |
|
|
|
|
|
|
|
| |
|
|
|
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Monastery Mine is pleased to announce that the above Diamond and Mineral Resource statement was included in Monastery Mine’s Mineral Right application lodged with the Department of Mineral Resources which included certain portions of the farms The Monastery 237 and Laura 267 in the Marquard district of the Free State Province. During the period 1981 to 1983 a total of approximately 14 000 carats were produced utilising a bottom cut-off screen size of 2mm and during the period July 2011 to November 2011 approximately 1 000 carats were produced, during the prospecting phase and in terms of the approved Environmental Management Plan, from the oxidised dump of the Monastery Kimberlite pipe utilising a 3mm cut-off screen size.
Marius Welthagen, P.Eng. (Int), MEng (Mining), MPhil (Mineral Economics), Hons BCom (Economics), MECSA, MSAIMM, FGSSA, was responsible for compiling this update report. As Chief Executive of Thabex he has sufficient experience relevant to the style of mineralisation, type of deposit under consideration, activities undertaken, evaluation and valuation thereof to qualify as a Competent Person and Competent Valuator in terms of the SAMREC and SAMVAL Codes, respectively.
Johannesburg
Sponsor
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