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Re: News Release - Thursday, September 20, 2007
Encouraging Diamond Grades From Underground Test Mining at Kono
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Mano River Resources Inc. ("Mano" or "the Company") the TSX-V and
AIM-listed exploration and development company focussed on West Africa,
provides a progress update on the Kono kimberlite dyke diamond project
in Sierra Leone. The Kono project is a Joint Venture between Stellar
Diamonds Ltd ("Stellar") (49%) and Petra Diamonds Limited ("Petra")
(51%). Mano River is a 68.5% shareholder in Stellar, which recently
completed a �4.2m pre-IPO financing and plans to list on AIM.
The salient points from the Petra news release of today are as follows:
.. The development programme has made further solid progress, with test
mining of a number of shafts delivering encouraging results
.. Test mining has commenced on three shafts where in-situ diamond
grades of between 50 and 80 carats per hundred tonnes ("cpht") have
been achieved
.. Petra believes that the test shafts have a high likelihood of
developing into economic production operations
.. 2,809 diamonds totaling 241.7 carats recovered from trial mining to
date (February 2007: 638 diamonds, 58.8 carats)
.. Petra attribute the increase in diamond recoveries in recent months
to better quality kimberlite now encountered, more consistent
kimberlite fissures and better fissure widths;
Adonis Pouroulis, Chairman of Petra, commented; "We are pleased to
report the further positive progress at the Kono project. The trial
mining is going well and whilst further work is required in order to
infer a representative grade and value, the results to date support our
expectations for the Kono project and we progress with confidence into
the next phase of the development. The quality, consistency and width
of the kimberlite now encountered are all positive signs for the future
development of economic operations"
Stellar's CEO, Karl Smithson comments: "We are very encouraged by the
news given by Petra Diamonds from the Kono operations. We would like
to commend Petra, our partners, on their diligent and effective
management of the project. Petra is the world leader in underground
kimberlite dyke mining and they have assembled a first class
operational team that we are confident can bring success to the
project."
Petra also provided the following further details:
Test Shaft Development
The development programme at Kono has achieved some encouraging results
in recent months with potentially economic kimberlite fissures having
been opened. Diamond yields, fissure widths and the underground mining
and geological conditions have enabled Petra to concentrate their test
shaft efforts on three very promising diamondiferous kimberlitic
fissure targets.
To date five shafts have been sunk, each to a depth of 30 metres. Three
of these shafts are now at the test mining stage on the 30 metre level
and have been returning satisfactory in-situ grades of between 50 and
80 cpht. These shafts display a consistent, near vertical dipping
fissure line with very encouraging in-situ shaft sinking grades;
fissure widths vary between 40 centimetres ("cm") and 200 cm with
satisfactory mining conditions having been experienced to date. Two
shafts were discontinued because diamond recoveries during the shaft
sinking and test mining phases did not match the potential of the other
three shafts.
The test shafts are at advanced levels of development and the
processing of a limited amount of weathered, diluted and mixed
diamondiferous kimberlitic material extracted during shaft sinking
yielded 2,809 diamonds totalling 241.7 carats. The ten largest diamonds
ranged in size from 0.65 carats to 7.2 carats. Although the diamond
yields are encouraging from a small amount of material processed, Petra
is of the opinion that the scale of the test work conducted to date is
too limited to arrive at any representative grade or value and will
report on further findings when available.
The next phase of the project will excavate approximately 100 metres of
kimberlite along strike of the mineralised body at each shaft, so as to
process approximately 1,000 tonnes of clean kimberlite to obtain
acceptable run of mine grades and diamond values to be used in proposed
business plans. It is anticipated that this programme will be complete
by March 2008.
Exploration Development
During shaft sinking operations Petra found that, due to the highly
saprolitised nature of the rocks in this locality, the silicate and
spinel kimberlite indicator minerals have been destroyed, in many cases
to depths of up to 20 metres. It has further been ascertained that
ilmenite-deficient kimberlites exist in the area. These conditions may
mean that kimberlite pipes were overlooked during mining and
exploration operations carried out by previous operators in the area
and Petra is considering the flying of a low-level helicopter borne
electro-magnetic survey over the licence areas so as to prospect for
these potential deposits.
Petra Notes: It should be noted that the potential quantity in this
report is conceptual in nature, there has been insufficient exploration
to define a Mineral Resource and it is uncertain if further exploration
will result in the determination of a Mineral Resource.
For further information on Mano River Resources and Stellar Diamonds
Limited, you are invited to visit the Company's website at
www.manoriver.com or contact:
Mano River Resources Inc
+44 (0) 1235 810 740
Tom Elder / Luis da Silva
Stellar Diamonds Limited
+27 82 802 8802
Karl Smithson, CEO
Pelham PR
+44 (0) 20 7743 6670
Charles Vivian
Panmure Gordon (UK) Limited
+44 (0) 20 7614 8384
Edward Farmer
GMP Securities Europe LLP,
an Appointed Representative of Panmure Gordon (UK) Limited
+44 (0) 20 7459 3606
James Hannon
Notes to Editors:
About Stellar Diamonds Limited
Stellar Diamonds is a 68.5% owned subsidiary of AIM and TSX-V listed
Mano River Resources Inc. Stellar plans to list on London's AIM market
as an integrated diamond miner and explorer with a focus on West and
Central Africa. The Company's current portfolio of diamond properties
and joint ventures in West Africa is summarised as follows:
A 49% interest in a Joint Venture with Petra Diamonds on the Kono
Kimberlite Dykes project in the Kono diamond fields of Sierra Leone,
where test mining has commenced and commercial diamond production is
scheduled for 2008.
A 50% interest in a JV with Trans Hex Group in the Weasua cluster of
diamondiferous kimberlite pipes in Liberia, where bulk sampling to
determine diamond grades and value is currently underway.
A 100% interest in the Mandala alluvial and Bouro kimberlite dyke
project in Guinea, where a non-43-101 indicated alluvial diamond
resource of 550,000 carats has been established and where high grade
kimberlite dykes are present.
A 15,000km2 reconnaissance licence in western Liberia where diamond
bearing kimberlites and numerous high interest mineral indicator
anomalies have been discovered.
A JV with BHP Billiton, who are earning into an initial 51% interest in
the south-eastern Sierra Leone tenements. The joint venture has located
extensions of the high-grade diamondiferous Tongo dyke field and
identified numerous geophysical targets that are currently being drill
tested.
Two licences in south east Sierra Leone where kimberlite has been
discovered and indicator mineral anomalies require further follow up
work.
A JV with African Aura in Liberia where exploration is ongoing to earn
into a 78% interest in the diamond rights of the 400km2 north Bea
exploration project.
A 100% held interest in the diamond rights of the 1,000km2 Bea MDA
licence in Liberia where indicator mineral anomalies have been
generated and require further follow up work.
An agreement with De Beers to access their regional Guinea database,
where an independent consultant has reviewed the data and target
selection is now ongoing.
Mano's Qualified Person responsible for reviewing the content of this
release is its President & CEO, Dr Tom Elder, who holds a BSc and
Doctorate in Geology from Durham University in the UK, is a Fellow and
former Member of Council of The Institution of Mining and Metallurgy
and a Fellow of The Geological Society.
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release
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Copyright (c) 2007 MANO RIVER RESOURCES INC. (MANA) All rights
reserved. For more information visit our website at
http://www.manoriver.com/ or send mailto:releases@manoriver.com
Message sent on Thu Sep 20, 2007 at 10:46:31 AM Pacific Time
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