Banalia Diamond Project

DR Congo ♦ Banalia Diamond Project ♦ Exploration ♦ Joint Venture

Presented by AfricanCR Ltd (ACN 162 704 047) and LEAD Africa Invest the mandate for the Vendor.

Inferred resource of 325,658 carats
Exploration target of 3,737,983 carats

The concession is located in the Orientale Province of the Democratic Republic of the Congo near the settlement of Banalia in the Tshopo District.

This property has had a study completed with independent report available.

A USD1.836 million exploration programme was carried out in four stages:

  • Target generation through remote-sensing (“POYSK”) methods (VITAVA d.o.o., Slovenia): March to April 2011. The work was done on a 1:62,000 scale.
  • Further target enhancement through better resolution geophysical interpretation with some field verification (VITAVA d.o.o., Slovenia and Sergey Jurin, Kiev National University): August 2011. The work was done on a 1:2,500 scale.
  • Testing of the delineated targets through test pits (on the flood plain of the river) and by divers and dredgers in the river bed (VITAVA d.o.o., Slovenia with Sergey Jurin, Kiev National University, as the geologist on site): April 2011 to December 2012.
  • Third party resource estimation (Dr Alexey Karpenko, Taras Schevchenko National University, Kiev): December 2012.

The project area is located across the Aruwimi River that flows past various settlements (including Banalia) and ultimately joins the Congo River.

In the project area diamonds were obtained from two distinct sources (alluvial floodplain gravels and active river bed gravels).

Overall the prospect has a solid resource and enough data was gathered from the initial exploration to warrant taking the project further along the value chain.

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