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Lesotho : Formal conclusion of bulk sampling at Lemphane.

Paragon Diamonds Ltd. announces an operational update on its development activities on the Lemphane Kimberlite in Lesotho.

The Company announces the formal conclusion of the bulk sampling program following an independent audit and sign-off of the program procedures by the Company s consultants, The MSA Group (MSA). Sample processing was concluded in June 2013 and preliminary results (pending a full review and verification of all data) were contained in the Company s Operational Update announcement dated 17 July 2013. The final signed-off report has now been received and the final results are summarised below:

The South Domain comprises approximately 65% of the area of the pipe and reported a sample grade of close to 2.2 cpht based on a total bulk sample of 10,586 dry tonnes of kimberlite from four sample pits (1.5 mm bottom size cut-off).

The North Domain comprises approximately 34% of the area of the pipe and reported a sample grade of close to 1 cpht based on a total bulk sample of 4,349 dry tonnes of kimberlite from three sample pits (1.5 mm bottom size cut-off).

The Satellite Pipe (an apophysis) is volumetrically insignificant and reported a sample grade of close to 4.5 cpht based on a bulk sample of 413 dry tonnes of kimberlite from one sample pit (1.5 mm bottom size cut-off).

Due to the nature of the Lemphane Kimberlite, samples of less than approximately 2,000 tonnes are considered too small to be representative. The majority of samples in the combined bulk sample came from large sample pits of between 2,000-3,000 tonnes, distributed across the kimberlite. A further circa 10,000 tonnes of trench sample, collected as 20 individual sub-samples of between 400-550 tonnes distributed across the kimberlite were determined to be too small to provide statistically significant grade data and, in discussion with MSA, it was decided not to process these samples. This sample material will instead be amalgamated and processed during the commissioning stage of the process plant for the proposed Stage I trial mining of the kimberlite.

MSA has recently completed reporting on the independent audit program conducted during the entire bulk sampling period. The audit program involved periodic independent site visits to monitor and review all sample extraction, handling and processing procedures, as well as making recommendations for improvement where appropriate. MSA note that:

In MSA s opinion, the work carried out and the results produced meet the standards required by the major international reporting Codes (JORC, SAMREC, CIM) for the reporting of diamond exploration results.

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Publication:Mena Report
Date:Dec 12, 2013
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