JOHANNESBURG (miningweekly.com) - Aim-listed diamond company African Diamonds on Tuesday reported an indicated resource of just over 51-million tons, compared with the previously estimated 40-million tons, in its latest update on the AK6 discovery in Botswana.

The new report estimated the indicated resource at an average grade of 22 ct for every hundred tons and an average modelled diamond value of $194/ct.

The report also showed an inferred resource of about 20-million tons, compared with the previously estimated 31-million tons, at an average grade of 19 ct for every hundred tons, and a diamond value of $183/ct.

The company said in a media statement that the resource estimate was based on a comprehensive evaluation of the AK6 kimberlite by Boteti.

Further, the estimated tons were based on 22 744 m of delineation core drilling in 69 holes and 26 large diameter holes on a 50-m by 50-m grid across the pipe.

Diamond value estimates were based on a valuation carried out by Mercury Diamond in February.

"The resource update was conducted as part of an ongoing feasibility study," stated African Diamonds.