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Technical Report: Wouterspan Alluvial Diamond Property February 2009 |
The Wouterspan Property is located in the Herbert District of the Northern Cape Province some 50km southwest of Douglas, South Africa. The operations are located on the farm Lanyonvale (various portions) with an aggregate area of 2,579.8 hectares. The property is situated adjacent to the Saxendrift Property and downstream from the alluvial deposits of the Whitewaters farm.
Diamonds of exceptional value have been recovered, including a 156 carat D-flawless stone that sold for approximately US$5.7 million and a 152 carat D-colour stone that sold for approximately US$4.3 million at official tender in 2006. In addition to the 156 and 152 carat stones, a 134 carat yellow stone, a 39.97 carat D flawless stone and a 41.31 carat light yellow stone were recovered in 2006.
For Fiscal Year 2009, diamond sales from production averaged over US$1,290 per carat.
Drilling and trial mining indicate that the property hosts an extensive alluvial deposit with a large average stone size within the Rooikoppie and Primary gravel units. The indicated and inferred resources* for Wouterspan at February 2009 are 5,025,500 cubic metres (m3) and 37,774,000 cubic metres (m3) respectively.
Due to the dramatic drop in diamond prices in the fall of 2008, Rockwell placed the Wouterspan Mine on care and maintenance. This situation will continue until the diamond values regain sustainable levels. At that stage, a new processing plant planned for Wouterspan, will be commissioned and full production will be targeted.
*Dr. Tania R. Marshall, Pr.Sci.Nat. was the qualified person responsible for the updated resource estimate
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