Sydney, Nov 23, 2005 AEST (ABN Newswire) - Petra Diamonds Limited (ASX: PDL)('Petra' or 'the Company'), the AIM-quoted and ASX-listed diamond mining group, announces an update with regards to the kimberlite exploration programme at the Alto Cuilo project in north eastern Angola.
Further to the identification of additional magnetic anomalies following the recent low level Midas survey, the anomalies have been prioritised for drilling in order to ascertain whether or not they are kimberlitic in nature, in preparation for selecting the best anomalies for large diameter drilling and bulk sampling in 2006.
The Company announces that drilling has intersected a further two new kimberlitic bodies, AC71, estimated at 32 hectares in area and AC72, estimated at 30 hectares. A good sample of Reworked Volcanoclastic Kimberlite ('RVK') was obtained to a depth of 122.8 metres from AC71 whilst at AC72 well developed RVK intercalated within crater facies sands was intersected from 80 metres to the end of the hole at the current depth of 197.8 metres.
These positive results are particularly pleasing as they confirm the potential for further kimberlitic anomalies from the increase in known anomalies identified in the Midas survey. A surface exposure of material from the large AC16 body (the approximately 125 hectare anomaly) has been treated through the bushman jig.
Whilst this was not large enough to arrive at a grade estimate, macro diamonds were recovered from this sample indicating the diamond potential of this anomaly. Alluvial work continues with bulk sampling and pitting.
Adonis Pouroulis, Petra's Chairman, commented, 'We are pleased to announce the discovery of further kimberlitic bodies at Alto Cuilo, further increasing the footprint of kimberlitic discoveries to date to approximately 382 hectares. This shows that Alto Cuilo is an exceptional project and we look forward to more positive developments over the coming months and thereafter on the commencement of the kimberlite bulk sampling programme.'
Contact
Parkgreen Communications, London
Justine Howarth / Cathy Malins
Tel +44 20 7493 3713
Petra Diamonds, Perth
John Baillie
Tel +61 8 9381 8888
Field PR, Adelaide
Kevin Skinner
Tel +61 8 8234 9555
Mobile +61 414 822 631
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