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Strong preliminary results from 2007 marine sampling programme in
Namibia; diamond sales and production update
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Cape Town, December 7, 2007: Diamond Fields International Ltd.
(DFI:TSX) ("DFI" or the "Company") is pleased to announce that
preliminary results from the 2007 marine sampling programme undertaken
by Bonaparte Diamond Mines NL ("Bonaparte") in the ML111 Joint
Operations ("JO") area offshore Namibia, show a 68% increase in the
number of samples with positive diamond recovery, compared to the
previous year's programme. The number of positive samples in which more
than one diamond was recovered (multiple diamond samples) also
increased by 85% over the 2006 operations. The Company is also pleased
to report improved production results in Namibia from its mining vessel
MV DF Discoverer coming out of the winter months.
2007 Sampling programme
A total of 451 diamonds weighing approximately 160 carats were
recovered from the 290 positive samples during the recently completed
2007 JO sampling programme. The preliminary results are provided in the
Table below and recoveries will be adjusted if necessary, after final
processing of the samples at the onshore facility in Luderitz.
Comparative Sampling Results in ML 111 JO Area:
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% Ave
Total No. of % of Multiple Multiple No. of Carats Size
No. of Positive Positive diamond Diamond Diamonds (estimate) cts/
Samples Samples Samples samples Samples stone
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2007 668 290 43% 106 16% 451 160 0.36
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2006 547 146 27% 47 9% 291 136 0.47
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% Difference (2007 +63% +85%
compared to 2006)
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The programme was undertaken at Bonaparte's expense using the De Beers
owned dedicated diamond sampling vessel MV Douglas Bay on a sampling
grid of approximately 50m by 40m with an average footprint size of
approximately 2.1m2 per sample in sediments up to 4m thick. Gravel in
the size range +1.5mm to -12mm was screened out for processing and
diamond recovery. The design of the programme will enable estimation of
Indicated Resources in terms of National Instrument 43-101.
Mining of the 63,000 carats Indicated Resource defined in the 2006
sampling programme in the original JO area has been ongoing since
commencement in January 2007.
DFI's President and CEO, Roger Daniel commented: "We are delighted with
the strong results from the Bonaparte joint operations sampling
operations which have identified seven new diamond deposits which will
support joint mining operations through 2008/2009. We expect these
newly defined areas will be incorporated in the JO production plans
early in 2008 to increase current production levels. The recent
sampling programme covered approximately 24% of the expanded JO area of
10.8 km2 and we anticipate further increases to the mining resource
base with future development work in this area."
Diamond sales and October marine diamond production
The sale of the latest parcel of 1,889 carats from the JO marine mining
operations off Namibia resulted in gross revenue of US$388,303 at an
average price of US$205.55/carat. Total JO sales for production up to
October 21, 2007 amounts to 17,455carats sold for US$3,799,772 in total
revenue at an average price of US$217.69/carat.
Coming out of the winter months, diamond production continued to
improve in October 2007 with recovery of 4,864 diamonds weighing 1,894
carats. Production in September 2007 was 1,618 carats. Total production
from the JO area to October 31, 2007 is 42,827 diamonds weighing 18,139
carats at an average size of 0.42 carats/stone.
Roger J. Daniel, B.Sc. (Hones) Geology, London, Pr.Sci.Nat., the
Company's President and CEO, who is a Fellow of the South African
Institute of Mining and Metallurgy (SAIMM), is also a registered
geological scientist with the South African Council for Natural
Scientific Professions (SACNASP), and is thus a Qualified Person in
terms of National Instrument 43-101, has compiled and reviewed the
scientific and technical information contained in this News Release.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and CEO For further information, contact
Roger Daniel at +27 21 425 1990 Website: www.diamondfields.com
Forward-Looking Statements:
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific
factors identified in Diamond Fields' 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. Diamond Fields does not assume the obligation to
update any forward-looking statement.
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Copyright (c) 2007 DIAMOND FIELDS INTERNATIONAL LTD. (DFI) All rights
reserved. For more information visit our website at
http://www.diamondfields.com/ or send mailto:enquire@diamondfields.com
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