Vancouver, British Columbia--(Newsfile Corp. - March 15, 2019) - Diamond Fields Resources Inc. (TSXV: DFR) ("DFR" or the "Company") is pleased to announce the results of the first sale of diamonds from the ML111 licence offshore Namibia since mining resumed in 2018.
- Net proceeds attributable to the Company of US$1.1m
- One 5.71 carat pink diamond sold for US$97,076
- All 47,298 carats offered for sale were sold
Figure 1: 5.71 ct pink diamond from ML111
To view an enhanced version of Figure 1, please visit:
Figure 2: Mining Vessel Ya Toivo
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A total of 47,298.18 carats of net weight unpolished diamonds were sold. The net proceeds attributable to the Company amounted to US$ 1,105,530.
The sale included a number of high quality white and colored diamonds, including a 5.71 carat pink diamond that reached a final individual price of US$97,076. All diamonds offered for sale were sold, samples of the products can be viewed on the Company's website.
The parcel of diamonds was produced over 65 days of mining between November 10, 2018 and January 13, 2019 ("the Period"). The Company is in the process of carrying out a review of operational performance during the Period with IMDH, which operated the campaign via its subsidiary NUTAM.
DIAMOND FIELDS RESOURCES INC.
SIGNED: "Sybrand van der Spuy"
Sybrand van der Spuy, CEO and Director
Contact: +27 78 4558700
Michael Oke/Andy Mills: +44 20 7321 0000
Aura Financial LLP: www.aura-financial.com
Notes to Editors:
DFR is a TSX Venture Exchange listed exploration and mine development company with assets in Madagascar and Namibia. In Madagascar, DFR is developing the Beravina Project, an advanced high grade hard rock zircon exploration prospect located in the west of the country, approximately 220km east of the port of Maintirano and near a state road. In Namibia, International Mining and Dredging Holdings (Pty) Limited is undertaking an initial six month (non-continuous) offshore diamond mining program on DFR's ML 111 licence area. The ML 111 concession has a ten year mining licence, effective until 4 December 2025, and lies within Luderitz Bay between Diaz Point in the south and Marshall Rocks in the north and at depths of 15 to 70 metres.
The Company's public documents may be accessed at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Company's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement, except as otherwise required by law.
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