Aber Diamond Corporation - Diavik Project Update
07 August 2007 - 9:00PM
PR Newswire (US)
TORONTO, Aug. 7 /PRNewswire-FirstCall/ -- ABER DIAMOND CORPORATION
(TSE-ABZ, NASDAQ-ABER) Diavik Diamond Mines Inc., the operator of
the Diavik Diamond Mine has reported that approximately 3.3 million
carats of diamonds were recovered from the mine during the second
calendar quarter compared with around 2.7 million carats for the
comparable period last year. Production for the first half of the
calendar year was almost 5.9 million carats. This is well ahead of
the current plan and principally the result of higher recovery of
diamonds per tonne of ore processed. The substantial increase in
diamond recovery is a combination of improvements to the processing
circuit to enhance the recovery of small diamonds as well as, to a
lesser extent, recovery of larger stones that were not anticipated
by the 1994/95 large diameter core sampling which formed the basis
of the resource model. Similar improvements in recovered grade are
expected for all of the Diavik reserves and resources but to
differing degrees for the various geological units of the different
kimberlite pipes. Operating experience has shown that the volume,
and therefore tonnage, of A-154 South mined to date has been on the
order of 10% greater than the resource block model for this pipe.
However, it is unknown whether this factor will persist at depth in
A-154 South, or in the other pipes making up the Diavik resource.
The increases in grade will deliver higher annual carat production
from the project mining and processing capacity while the increase
in tonnage will have a positive impact on the mine life. Work on
the new mine plan is now nearing completion. It will be reviewed by
the boards of Aber and Rio Tinto towards the end of this year. The
new mine plan brings underground mining of at least three of the
four kimberlite pipes into the production schedule. The final
version of the plan will incorporate diamond price information from
underground bulk samples from A-21 and A-154 North. The A-154 North
sample was collected in two aliquots. One was mined using
conventional drill-blast techniques while the other was extracted
using a road-header or mechanical mining machine. The results will
be examined for any recovered grade (carats per tonne) or diamond
quality (dollars per carat) differences between the two mining
techniques. Since Aber and Rio Tinto do not disclose diamond
pricing information to each other, Aber plans to have the bulk
sample diamonds valued independently for public reporting purposes.
About Aber Aber Diamond Corporation is a specialist diamond company
focusing on the mining and retail segments of the diamond industry.
The Company supplies rough diamonds to the global market through
its 40% ownership in the Diavik Diamond Mine and owns one of the
world's premier retailers of diamond jewelry, Harry Winston.
DATASOURCE: Aber Diamond Corporation CONTACT: Robert A. Gannicott,
Chairman and Chief Executive Officer, (416) 362-2237; Investor
Relations, (416) 362-2237 (ext. 244)
Copyright