Aim-listed BlueRock has updated its 2013 inferred level of confidence in the diamond mineral resource for the Kareevlei kimberlite cluster.
The company owns and operates the Kareevlei diamond mine, in Kimberley, South Africa, and appointed Z Star Mineral Resource Consultants to compile its reports.
Since the publication of the 2013 mineral resource report, BlueRock has started mining the KV2 and KV1 pipes and conducted geological delineation drilling and bulk sampling on the KV5 pipe.
The primary changes of the new mineral resource report are an addition of a portion of the KV5 pipe to the mineral resource, amendments to the KV2 and KV3 geological models and the depletion of the mined portion of the KV2 resource.
The net effects of these changes to the Kareevlei kimberlite cluster mineral resource is a 3% reduction in tonnes – taking into account tonnes already mined, a 2.2% increase in carats, and a 5.4% increase in grade – all at a strict 1 mm bottom cut-off.
“Since operations began in 2014 we have only mined 3% of our inferred resource and we now have 2.2% more carats than was initially reported in the 2013 estimate. This demonstrates the extremely early-stage nature of operations at Kareevlei and the significant upside that remains at our five known kimberlite pipes.
“KV5 now forms part of our inferred resource statement and our trial mining last year showed that this pipe produces larger, higher-value diamonds with an initial estimate of $411/ct, so we look forward to unlocking the further value going forward,” BlueRock CEO Adam Waugh said in a statement this week.