Global pulls stones from Grasdrif alluvial mine

Denver — Global Diamond Resources (GDRS-Q) has recovered three large gem stones at the Grasdrif alluvial diamond mine in South Africa.

The largest of the stones measures 54 carats, while the smaller two measure 47 and 25 carats. Collectively, the diamonds are valued at US$620,000.

Global started mining at Grasdrif in 1998 and to date has recovered 0.22 carat per 100 tonnes. Although that is lower than expected, the total production yield of US$1,320 per carat is higher than expected.

Situated on the southern bank of the Orange River, near the Namibian border, the project contains 82 million tonnes of diamondiferous gravel with a potential to yield more than 1 million carats of gem stones.

The company is also producing alluvial diamonds from the Caerwinning mine on South Africa’s Vaal River, as well as evaluating the Montrose kimberlite, east of Pretoria.

Last fall, the company sold a parcel of diamonds from Caerwinning for US$523,692. The parcel included a 19.14-carat gemstone valued at US$36,444 and a 17.13-carat gemstone valued at US$63,222.