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BlueRock Raises Resource Estimate

Dec 23, 2020 5:29 AM   By Rapaport News
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BlueRock Diamonds has increased the estimate of total rough carats available at its Kareevlei mine in South Africa, following a recent drilling program at the site.

The results indicate total carats at the mine to be 513,500, a 52% increase over the 367,000 originally forecast in 2018, the company said Tuesday. So far, BlueRock has mined 28,500 carats from the site. The drilling also revealed a 6% improvement in the carat grade.

The increased resources will extend Kareevlei’s mine life, said BlueRock CEO Mike Houston.

“The results generated from the recent drilling are a very important development for BlueRock. The provisional resource estimate would provide for a mine life of a minimum of 10 years,” he noted. “The company expects to undertake further work in 2021…which [is] expected to increase the resource and the life of the mine further.”

Image: Rough diamonds from Kareevlei mine. (BlueRock Diamonds)
Tags: BlueRock, BlueRock Diamonds, Kareevlei, Kareevlei mine, Mike Houston, Rapaport News
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