Afri-can Marine Minerals Corporation

Published : May 03rd, 2012

STARTS GEOPHYSICAL SURVEY ON EPL 3403 MARINE DIAMOND CONCESSION

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Keywords :   Diamond | Namibia |
 

 

April 20, 2012, Montr�al, Qu�bec Symbol: TSX.V: AFA
Press release � for immediate distribution Shares outstanding: 238,524,984
 
AFRI-CAN STARTS GEOPHYSICAL SURVEY ON EPL 3403 MARINE Diamond CONCESSION
 
Afri-Can Marine Minerals Corporation ("Afri-Can") (TSX Venture: AFA) started a geophysical survey on Exclusive Prospecting Licence (�EPL�) 3403 marine Diamond concession in Namibia on May 2, 2012.

Afri-Can has chartered the vessel SP Star from IMDH to carry out the geophysical survey that will cover a maximum of 1,400 line-kilometres over a period of approximately 16 days at sea. The survey will cover 90 square kilometres in the south end of EPL 3403 and will cover Depositional Areas 1, 2 and 3 already delineated by previous sampling programs (see attached Maps 1 and 2). The goal of the geophysical survey is to model accurately the geology and to delineate the boundaries of the deposits in order to prepare for a second sampling phase. The goal of the survey and second sampling phase is to start delineating resources on areas 1 and 2 in anticipation of subsequent trial mining.

Afri-Can holds an option to acquire 100% of the shares of Thyme Investments (Pty) Ltd. (�Thyme�), the owner of 100% of EPL 3403. Afri-Can will earn a first 20% in Thyme by issuing 20% of 65 million of its own shares to Thyme and start a geophysical survey. Afri-Can will earn the remaining 80% of Thyme by completing a sampling program and issuing the balance of 80% of the 65 million of its own shares to Thyme.

Afri-Can has completed all the conditions to acquire the first 20% of Thyme and will immediately begin the procedures in order to issue 13 million of its common shares to the owners of Thyme in consideration for 20% of all the shares of Thyme. EPL 3403 covers approximately 800 square kilometres and is adjacent to and contiguous with 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), which is the largest marine Diamond deposit in the world. ML 47 currently produces in excess of 1,100,000 carats per year.
 
About Afri-Can Marine Minerals Corporation
Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major properties in Namibia. Afri-Can's creative and scientific approach targets large marine Diamond deposits in prospective territories.

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.
 
FOR MORE INFORMATION CONTACT:
Pierre L�veill�, President & CEO;
Bernard J. Tourillon, Executive V.P. and CFO
TEL: (514) 846-2133 FAX: (514) 372-0066
TOLL FREE North America: 1 (866) 206-7475
E-MAIL: info@afri-can.com - WEB SITE: www.afri-can.com
 
 

Data and Statistics for these countries : Namibia | All
Gold and Silver Prices for these countries : Namibia | All

Afri-can Marine Minerals Corporation

EXPLORATION STAGE
CODE : AJF.F
ISIN : CA0082782024
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Afri-can Marine is a exploration company based in Canada.

Afri-can Marine holds various exploration projects in Namibia.

Its main exploration property is BLOCK J in Namibia.

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Financings of Afri-can Marine Minerals Corporation
7/18/2013July, 18, 2013, AFRI-CAN MARINE ANNOUNCES A PRIVATE PLACEMEN...
6/28/2013ANNOUNCES A PRIVATE PLACEMENT
8/22/2012CLOSES FINAL TRANCHE OF FINANCING FOR $1.3 MILLION
7/29/2011HAS CLOSED A PRIVATE PLACEMENT
Nominations of Afri-can Marine Minerals Corporation
11/21/2013announces appointment to the Board of Directors
Project news of Afri-can Marine Minerals Corporation
9/11/2013868,000 CARATS HISTORICAL DIAMOND RESOURCE ON DIAMOND FIELDS
3/14/2013COMPLETES ACQUISITION OF 20% INTEREST IN EPL 3403 IN NAMIBIA
1/31/2013SAMPLING CONFIRMS THE POTENTIAL AND VALIDATES THE PLANNED AC...
11/7/2012GEOPHYSICAL SURVEY DELINEATES NEW TARGETS ON EPL 3403 MARINE...
2/15/2012RECEIVES APPROVAL FOR THE ACQUISITION OF 20% OF EPL 3403 MAR...
3/16/2011CHARTERS SAMPLING VESSEL AND RECEIVES 43-101 APPROVAL
Corporate news of Afri-can Marine Minerals Corporation
1/23/2014ANNOUNCES POSITIVE PRE-FEASIBILITY STUDY ON MINING LEASE
12/5/2013REACHES AGREEMENT FOR DEVELOPMENT AND MINING OF DIAMOND FIEL...
10/1/2013discloses 43-101 resources on DFI mining leases
3/21/2013OPTIONS DIAMOND FIELDS MINING LEASES OFF THE COAST OF NAMIBI...
10/31/2012TO START SAMPLING EPL 3403 IN NOVEMBER
7/4/2012COMMON SHARES WILL START TRADING ON A CONSOLIDATED BASIS ON ...
6/4/2012SHARE CONSOLIDATION APPROVED BY SHAREHOLDERS
5/17/2012COMPLETES GEOPHYSICAL SURVEY ON EPL 3403 MARINE DIAMOND CONC...
5/3/2012STARTS GEOPHYSICAL SURVEY ON EPL 3403 MARINE DIAMOND CONCESS...
4/20/2012TO START GEOPHYSICAL SURVEY ON EPL 3403 MARINE DIAMOND CONCE...
2/28/2012Deep-South signs option agreement to earn 60% of Zebrafontei...
8/17/2011Deep-South and Afri-Can to list the remaining 30% through a ...
7/13/2011RB MILSTONE INITIATE COVERAGE ON AFRI-CAN MARINE
5/10/2011SAMPLING RECOVERS LARGE DIAMONDS FROM EPL 3403 IN NAMIBIA
3/28/2011BEGINS SAMPLING PROGRAM AND CLOSES PRIVATE PLACEMENT
3/23/2011DISCLOSES SAMPLING PROGRAM DETAILS AND SCHEDULE
2/12/2010Reports on Start of Diamond Sampling Program on Block J in N...
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