Redaurum Limited-American Diamond Mine Commences Production.TORONTO--(BUSINESS WIRE)--May 1, 1996--REDAURUM LIMITED(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :RRK RRK Random Rotation of Key ) Redaurum Limited (RRK-TSE) said today that diamonds are being recovered from its newly commissioned treatment plant at the Kelsey Lake diamond mine in Colorado. The diamonds are being recovered from kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. taken from a 70,000 tonne stockpile stock·pile n. A supply stored for future use, usually carefully accrued and maintained. tr.v. stock·piled, stock·pil·ing, stock·piles To accumulate and maintain a supply of for future use. excavated late in 1995. The plant has a design capacity of up to 200 tonnes per hour and is forecast to produce more than 25,000 carats of diamonds in 1996 and 100,000 carats in following years. The two Kelsey Lake kimberlite pipes are estimated to contain US$153,000,000 of diamonds, excluding stones larger than 10 carats. Diamonds recovered to date were 65 percent gem quality and 25 percent by weight greater than one carat CARAT, weights. A carat is a weight equal to three and one-sixth grains, in diamonds, and the like. Jac. L. Dict. See Weight. in size. The project is expected to have a minimum life of 12 years when the plant is developed to its maximum capacity. The newly commissioned recovery plant uses four 4.27 metre (14 ft) rotary pans fed via a scrubber, and incorporates independent puddle-density control, feed rate control, new rake design and grease-tables to treat pan concentrates. The plant is housed in a fully insulated and heated building to allow for all year round operations and was built at a cost of under US$2 million, considerably less than a DMS (1) (Document Management System) See document management. (2) (Defense Messaging System) An X.500-compliant messaging system developed by the U.S. Dept. of Defense. (Dense Media Separation) plant of similar capacity. Earthmoving operations are seasonal and will recommence Re`com`mence´ v. i. 1. To commence or begin again. 2. To begin anew to be; to act again as. He seems desirous enough of recommencing courtier. - Johnson. v. t. 1. To commence again or anew. in May 1996 so that the kimberlite stockpile will be maintained and increased to ensure that feed to the recovery plant will not be interrupted in the winter of 1996/97. The mine, located on the Colorado/Wyoming State Line, has an estimated kimberlite resource of 16.9 million tonnes to a depth of 100 metres (328 ft) with the two largest pipes KL1 and KL2 having a combined surface area of nine hectares (22 acres). Drilling indicates kimberlite weathered to a depth of at least 100 metres. A number of parties have approached the Company to market the Kelsey Lake diamonds exclusively in the USA. An announcement is expected shortly. The Company has also recorded "Colorado Diamonds" and "Kelsey Lake Diamonds" as Registered Trademarks. Revenues from the Kelsey Lake diamond mine are expected to impact Redaurum's results in the third quarter of 1996 when the first marketable parcel of diamond production is to be sold. The Company believes the third quarter results will show effects of the combined diamond sales from all four of its operations: Kelsey Lake, Quaggas Kop, Avontuur and River Ranch. CONTACT: Redaurum Limited Mr. Anthony Hamilton Anthony Hamilton may refer to:
or Bankside Consultants Ltd., London Mr. Keith Irons, Mr. Michael Coulter Secretary, Toronto 416/368-3553 |
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