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Diamond Fields International Ltd. - Strong preliminary results from 2007 marine sampling programme in Namibia; diamond sales and production update
CAPE TOWN, Dec. 7 /PRNewswire-FirstCall/ - Diamond Fields International
Ltd. (DFI:TSX) ("DFI" or the "Company") is pleased to announce that
preliminary results from the 2007 marine sampling programme undertaken by
Bonaparte Diamond Mines NL ("Bonaparte") in the ML111 Joint Operations
("JO") area offshore Namibia, show a 68% increase in the number of samples
with positive diamond recovery, compared to the previous year's programme.
The number of positive samples in which more than one diamond was recovered
(multiple diamond samples) also increased by 85% over the 2006 operations.
The Company is also pleased to report improved production results in
Namibia from its mining vessel MV DF Discoverer coming out of the winter
months.
2007 Sampling programme
A total of 451 diamonds weighing approximately 160 carats were
recovered from the 290 positive samples during the recently completed 2007
JO sampling programme. The preliminary results are provided in the Table
below and recoveries will be adjusted if necessary, after final processing
of the samples at the onshore facility in Luderitz.
Comparative Sampling Results in ML 111 JO Area:
-------------------------------------------------------------------------
% Ave
Total # of % of Multiple Multiple # of Carats Size
# of Positive Positive diamond Diamond Diamonds (estimate) cts/
Samples Samples Samples samples Samples stone
-------------------------------------------------------------------------
2007 668 290 43% 106 16% 451 160 0.36
-------------------------------------------------------------------------
2006 547 146 27% 47 9% 291 136 0.47
-------------------------------------------------------------------------
% Difference (2007 +63% +85%
compared to 2006)
-------------------------------------------------------------------------
The programme was undertaken at Bonaparte's expense using the De Beers
owned dedicated diamond sampling vessel MV Douglas Bay on a sampling grid
of approximately 50m by 40m with an average footprint size of approximately
2.1m(2) per sample in sediments up to 4m thick. Gravel in the size range
+1.5mm to -12mm was screened out for processing and diamond recovery. The
design of the programme will enable estimation of Indicated Resources in
terms of National Instrument 43-101.
Mining of the 63,000 carats Indicated Resource defined in the 2006
sampling programme in the original JO area has been ongoing since
commencement in January 2007.
DFI's President and CEO, Roger Daniel commented: "We are delighted with
the strong results from the Bonaparte joint operations sampling operations
which have identified seven new diamond deposits which will support joint
mining operations through 2008/2009. We expect these newly defined areas
will be incorporated in the JO production plans early in 2008 to increase
current production levels. The recent sampling programme covered
approximately 24% of the expanded JO area of 10.8 km(2) and we anticipate
further increases to the mining resource base with future development work
in this area."
Diamond sales and October marine diamond production
The sale of the latest parcel of 1,889 carats from the JO marine mining
operations off Namibia resulted in gross revenue of US$388,303 at an
average price of US$205.55/carat. Total JO sales for production up to
October 21, 2007 amounts to 17,455 carats sold for US$3,799,772 in total
revenue at an average price of US$217.69/carat.
Coming out of the winter months, diamond production continued to
improve in October 2007 with recovery of 4,864 diamonds weighing 1,894
carats. Production in September 2007 was 1,618 carats. Total production
from the JO area to October 31, 2007 is 42,827 diamonds weighing 18,139
carats at an average size of 0.42 carats/stone.
Roger J. Daniel, B.Sc. (Hones) Geology, London, Pr.Sci.Nat., the
Company's President and CEO, who is a Fellow of the South African Institute
of Mining and Metallurgy (SAIMM), is also a registered geological scientist
with the South African Council for Natural Scientific Professions
(SACNASP), and is thus a Qualified Person in terms of National Instrument
43-101, has compiled and reviewed the scientific and technical information
contained in this News Release.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and CEO
Forward-Looking Statements:
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in Diamond Fields' 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.
Diamond Fields does not assume the obligation to update any forward-looking
statement.
CONTACT: Roger Daniel at +27 21 425 1990, Website:
www.diamondfields.com
SOURCE Diamond Fields International Ltd.













