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A revised resource and reserve statement from Gem Diamonds has seen its Letšeng diamond mine carat resource base increase by 32%.

Gem Diamonds  is a global diamond producer of high value diamonds and has two resource bases – the Letšeng diamond mine in Lesotho (ownership 70%) and the Ghaghoo development project in Botswana (ownership 100%).

Key Comments on the 2013 Resource and Reserve Statement, which is effective 1st January 2013:

  • SAMREC Compliant Resources and Reserves, independently verified by Venmyn Deloitte.
  • Gross resources (inclusive of reserves) totalling 25.8 million carats with an average grade of 6.30 carats per hundred tonnes at an average diamond price of US$625/carat.
  • Letšeng total resource base has increased in carat terms by 32%, from the 2012 statement, to a total of 5.3 million carats, with an average grade of 1.75 carats per hundred tonnes at an average diamond price of US$2191/carat. The increase in the resource base is a result of the successful extension of the orebody at depth from recent drilling programmes.
  • The Ghaghoo project has declared a mineable reserve, ahead of the 2014 planned production start, of 2.1 million carats, with an average grade of 27.81 carats per hundred tonnes at an average diamond price of US$246/carat.
 

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