Rex uncovers pipe

Vancouver — Belgium-based Rex Diamond Mining (RXD-T) has discovered a new kimberlite on a wholly owned permit east of Tenoumer in Mauritania, West Africa.

The body was discovered as a result of pitting and soil-sampling. Kimberlite outcrops are visible over a length of at least 300 metres. Several samples have been collected and will be analyzed for microdiamonds.

In July, Rex entered into an option agreement with De Beers Consolidated Mines (DBRSY-Q) concerning the 10,000-sq.-km Akchar permit. De Beers can earn a 60% interest by spending US$24 million over five years. The major has acquired an additional 3,426 sq. km of ground that Rex relinquished in accordance with the new government mining code. This new area has been included in the joint venture.

De Beers has begun its exploration work with an aeromagetic survey.

Rex retains a 100% interest in nine other exploration permits covering a total of 90,000 sq. km in the northern part of the country.