RAPAPORT… BlueRock Diamonds has increased the estimate of total rough carats available at its Kareevlei mine in South Africa, following a recent drilling program at the site.
The results indicate total carats at the mine to be 513,500, a 52% increase over the 367,000 originally forecast in 2018, the company said Tuesday. So far, BlueRock has mined 28,500 carats from the site. The drilling also revealed a 6% improvement in the carat grade.
The increased resources will extend Kareevlei’s mine life, said BlueRock CEO Mike Houston.
“The results generated from the recent drilling are a very important development for BlueRock. The provisional resource estimate would provide for a mine life of a minimum of 10 years,” he noted. “The company expects to undertake further work in 2021…which [is] expected to increase the resource and the life of the mine further.”
Image: Rough diamonds from Kareevlei mine. (BlueRock Diamonds)
BlueRock Raises Resource Estimate
The Bottom Line
- BlueRock Diamonds increased Kareevlei mine's total rough carat estimate to 513,500, up 52% from the 2018 forecast of 367,000 carats.
- The recent drilling program also improved the carat grade by 6%, enhancing the mine's output quality.
- The updated resource estimate supports a minimum 10-year mine life, with plans for further exploration to potentially extend it.
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