Diamond Resource and Reserve update for Liqhobong Mine

The Diamond Resource was updated at the end of the financial year to account for the mining that took place during the year. Mining operations resumed in August 2022 after a period of care and maintenance that began in March 2020. The depletion during the year ending 30 June 2023 amounted to 2.796 million tonnes and 0.708 million carats. An estimated total of 0.0229 million tonnes of ore and 0.0057 million carats was found to reside on the run-of-mine (“ROM”), in-pit, and low-grade stockpiles. Therefore, as at 30 June 2023, the Liqhobong Mine’s total Indicated Resource was estimated to be 20.048 million tonnes at a grade of 22 carats per hundred tonnes (“cpht”), containing 4.363 million carats. This represents a 12.45% reduction in Metric tonnes compared to the 2022 Indicated Diamond Resource statement. There were no changes reported for the Inferred Resource.

Diamond Resource statement for Liqhobong Main Pipe as at 30 June 2023 (including Reserves)

Diamond Resource

Category

Depth from and to

Volume in m3

(millions)

Specific gravity (tonnes/m3)

Metric tonnes (millions)

Grade (cpht)

Carats (millions)

Indicated

2 603 masl to 2 467 masl

7.731 

2.59

20.048

22

  4.363

Inferred

2 467 masl to 2 127 masl

18.184

2.66

48.399

24

11.423

Total Diamond Resource

25.915 

2.64

68.447

23

 15.786
  • Diamond Resources as at 30 June 2023, reported inclusive of reserves.
  • Tonnes are metric tonnes and totals are rounded.
  • Stated at a bottom cut-off of 1.25mm slotted screen apertures.

Diamond Reserve

The diamond reserve at Liqhobong Mine was updated at the end of the financial year to reflect the mining activities that occurred during the year. As at 30 June 2023, the total Probable Reserve stood at 20.048 million tonnes at a grade of 22 cpht, containing 4.363 million carats.

The current mine plan includes the mining of cut 1 and cut 2 only. Options to revert to a longer Life of Mine (“LOM”) plan, which encompasses, for example, a cut 3 North would be considered in the future, should there be an overall improvement in the project economics, including average diamond prices or exchange rates, or further upside in pit optimisations.

Diamond Reserve statement for the Liqhobong Main Pipe as at 30 June 2023

 

 

 

Diamond Reserve

Diamond Reserve

Category

Depth from and to

Specific gravity (tonnes/m3)

Metric tonnes (millions)

Grade (cpht)

Carats (millions)

Probable

2 603 masl to 2 467 masl

2.59

20.048

22

  4.363

Total Diamond Reserve

2.59

20.048

22

 4.363
  • Tonnes are metric tonnes and totals are rounded.
  • Stated at a bottom cut-off of 1.25mm slotted screen apertures.

 

The Reserves and Resources Statement was independently compiled by Polite Khutjwe (Pri.Sci.Nat., B.Sc. (Hons) Applied Geology), a competent person, who was appointed as a consultant by the Company for this purpose.