AKD akd limited

bit of news today

  1. 44,749 Posts.
    lightbulb Created with Sketch. 9
    AKD LIMITED 2003-04-28 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Joint venture partner, De Beers, has reported there is strong
    evidence that proximal kimberlitic sources, responsible for the
    release of numerous kimberlitic indicator mineral grains, are
    contained within AKD's exploration licence 80/1590. The tenement is
    located in the Northern Kimberley province of Western Australia close
    to the Seppelt kimberlite occurrences and is the subject of a joint
    venture between AKD, De Beers and Striker Resources.

    All samples collected by De Beers during the 2002 field season and
    during a follow-up program in late 2002 have been treated and full
    examination results are now available.

    Of 91 stream sediment samples collected in the 2002 field season,
    22 were positive containing a total of 6 pyrope garnets,
    65 picroilmenites, 539 chromites and 1 diamond. A further 12 samples
    were collected in late 2002 to infill areas around selected positive
    samples. Results from this follow-up program show that the original
    kimberlitic grains recovered from the earlier program have been
    repeated. (All stream sediment samples collected were 100 litres each
    of excavated material screened to 2mm).

    The main aim of the 2003 field work will be to discover the
    kimberlitic sources releasing the indicator minerals and to evaluate
    their diamond potential.

    AKD and JV partner, Striker Resources NL, have agreed to provide
    De Beers a 12 month period to explore for diamonds within exploration
    licence E80/1590, at Seppelt Range. De Beers can earn a 50.1%
    interest in the tenement by spending $750,000. Should De Beers earn
    its interest, the remaining 49.9% will be shared equally by AKD and
    Striker.

    Z A Sas
    MANAGING DIRECTOR


    Dave R.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.