DIAMOND PAGE — Namco sizes up sea-floor diamond assets

An independent evaluation of the Koichab sea-floor diamond prospect of Namco (NMR-V) has been released.

A consulting firm reports an inferred resource of 2.4 million carats in a 3.85-sq.-km portion of the prospect, which is situated on the floor of the Atlantic Ocean, west of Luderitz, Namibia.

Namco took 184 samples from four geological features within the portion of the Koichab prospect tested; each sample represented the clearing of 10 sq.

metres.

The samples yielded 2,956 diamonds, for a total weight of 1,094 carats.

The size range of the 6,117 diamonds recovered from all parts of the Koichab is 0.1-4.4 carats, with an average size of 0.37 carat.

Diamond evaluators from the Namibian government assessed 1,241 carats recovered from the Koichab prospect. One parcel of 93 carats was valued at US$262 per carat; the other, at US$190 per carat. More than 90% of all stones are deemed gem-quality.

Meanwhile, sampling is continuing in the Hottentot Bay grant, also off the coast of Namibia. A $1-million geophysical survey over Hottentot Bay will be completed shortly.