DIAMOND PAGE — Trivalence Mining (TMI-V) has increased its stake in the Aredor diamond concession in the West African country of Guinea after reaching an out-of-court settlement.
The Vancouver-based junior has increased its interest in the concession to 85% from 59.5% by paying US$1.2 million to a group of companies led by former partner Consolidated African Mining, Consolidated African Diamonds and Barkers Metal and Mining. The government of Guinea retains a 15% interest in the 1,000-sq.-km property.
Trivalence has spent more than a year test-mining diamondiferous gravels at the past-producing Aredor mine, using a dual 8-ft. pan plant. In 1997, the plant recovered 16,570.24 carats from 262,473 tonnes of alluvial material. A total of 527 diamonds each weighed more than 5 carats, for a combined weight of 4,499.12 carats, representing 27% of the production.
In addition, a 14-ft. tailings plant processed 27,633 tonnes of tailings last year. A total of 539 diamonds weighing 444.39 carats was recovered, including a 70.1-carat stone. During 1997, a total of 12,692.76 carats was sold for US$8.5 million, including US$2.8 million for the 70.1-carat stone.
Trivalence is expected to begin commercial production early this year. The company recently began a 9-hole delineation drilling program on the K-7 kimberlite, the largest of 11 known kimberlites on the concession, with a surface area of 9.5 ha.
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