Trivalence expands K23

Stepout drilling has expanded to 4.9 ha the size of the K23 kimberlite at the Aredor diamond concession in Guinea.

Operator Trivalence Mining (TMI-V) sank seven holes to test for lateral extensions, two of which hit their mark. One of the holes was stopped at 48 metres while still in kimberlite.

This brings to 53 the number of holes that have intersected the K23; diamond mineralization now has been confirmed over a lateral distance of 266 metres and to a depth of 77 metres. The pipe remains open to the west and at depth and lies 1.1 km upstream from the BAI-4 alluvial block. That block, one of six being mined for alluvial diamonds, hosts 312,569 tonnes of gravels grading 0.11 carat per tonne.

Stepout drilling continues and a 10,000-tonne bulk sampling program is under way.

Trivalence owns an 85% interest in the 1,012-sq.-km Aredor property.

Meanwhile, Trivalence has converted $2.1 million of debt into 1.8 million treasury shares and an equivalent number of share-purchase warrants.

Concurrently, the company raised $1.8 million in a similar financing.

Funds will be used to expand operations at Aredor and the Palmietgat diamond mines in South Africa.