Resources & Reserves

Diamond Resource and Reserve update for Liqhobong

Diamond Resource

The latest Liqhobong Diamond Resource as at 31 December 2019 was updated by Zstar Mineral Consultants. This was the first update since 2015 and was based on the latest geological model and included a number of modifications and improvements including the following:
– production samples derived from focused mining;
– additional density samples collected by mine geologists;
– alignment of estimation block height to a bench height of 14m; and
– change in bottom cut-off to 1.25mm slotted screen panels.

The mining that took place during the third quarter of 2020 prior to the COVID-19 pandemic and the start of the care and maintenance period was depleted from the Diamond Resource estimate. No mining took place between that date and 30 June 2022. The total remaining Indicated Resource at the bottom cut-off of 1.25mm slotted screen panels was 22.898 Mt at a grade of 22 cpht containing 5.082 Mcts.

Diamond Resource statement for Liqhobong Main Pipe as at 30 June 2022 (including Reserves)
    DIAMOND RESOURCE
Diamond Resource Category Depth from and to Volume in m3 (millions) Density (Tonnes/m3) Metric Tonnes (millions) Grade (cpht) Carats (millions)
Indicated 2 673 masl to
2 463 masl		 8.807 2.60 22.898 22 5.082
Inferred 2 463 masl to
2 127 masl		 18.184 2.66 48.399 24 11.423
Total Diamond Resource 26.991 2.64 71.297 23 16.505
Diamond Resources as at 30 June 2022, reported inclusive of reserves.
Tonnes are metric tonnes and totals are rounded.
Stated at a bottom cut-off of 1.25mm slotted screen panels.

Diamond Reserve

The latest 7-year mine plan assumes the recovery of 5.243 Mcts from the treatment of 22.777 Mt of ore both from the Indicated and Inferred Resource categories. Approximately 78% of the planned recovered carats is derived from the Indicated Resource category and can be converted to Probable Reserve. The latest mine plan contemplates the mining of the remainder of cut 1 and cut 2 north and south. Diamond prices will dictate the feasibility of including a cut 3 in future mine plans.

Diamond Reserve statement for the Liqhobong Main Pipe as at 30 June 2022
    DIAMOND RESERVE
Diamond Reserve Category Depth from and to Density (Tonnes/m3) Metric Tonnes (millions) Grade (cpht) Carats (millions)
Probable 2 673 masl to
2 463 masl		 2.62 18.186 23 4.114
Total Diamond Reserve 2.62 18.186 23 4.114
The above Diamond Reserve is stated at a bottom cut-off of 1.25mm slotted screen panels.
The average diamond price of US$70 per carat was used in the estimate.
Tonnes are metric tonnes and totals are rounded.