Petra Diamonds Regulatory News (PDL)

3 Jul 2006 07:01

Mano River Resources Inc03 July 2006 Mano River Resources Inc.3 July 2006No: 2006/11 TSX-V: MNOAIM: MANA Mano Update on Petra Diamonds Joint Venture in Kono, Sierra Leone Mano River Resources Inc ("Mano"), the TSX-V and AIM-listed company withextensive mineral licences in Liberia, Sierra Leone and Guinea, announces anupdate with regard to the Kono Project, where Petra Diamonds Ltd ("Petra") andMano are engaged in a joint venture relating to the production of diamonds fromthe Lion kimberlite dykes in the Kono diamond district of Sierra Leone. First diamonds recovered Mano's joint venture partner and Operator of the project, Petra, has confirmedthat commissioning of the 75 tonnes-per-hour Dense Media Separation ("DMS")production plant in Kono was completed on schedule in June 2006 and that diamondrecovery commenced towards the end of the month, with the plant starting totreat the bulk samples recovered from exploration operations. To date 44 diamonds, totalling 5.6 carats, have been recovered, the largestbeing a stone of 1.4 carats. The samples processed to date comprise mixed anddiluted material from exploration operations and, whilst very encouraging, arenot large enough to arrive at a representative grade. Mining development Shaft sinking operations are proceeding well and a sound infrastructure is inplace supporting the DMS plant. Two shafts, both of which are on kimberlitedykes, are in progress with the deepest (Black Rock) being at a depth of 13.5metres and the second (Lost Shaft) at a depth of 9 metres. The shafts will besunk to a depth of around 30 metres before stopes are prepared to access thedykes for mining. Numerous 'rolling' exploration trenches and shafts continue tobe sunk so as to identify the best dyke targets out of the multiplicity of dykesavailable for development. Dr Tom Elder, Mano's CEO, commented, "We are very pleased with Petra's highlyprofessional operatorship of the project, resulting in the plant beingcommissioned, and recovery of the first diamonds from the Kono project beingachieved, exactly on schedule. The recovery of 5.6 carats of diamonds, includinga 1.4 carat stone, from the small amount of material processed to date is highlyencouraging. Sinking of the production shafts is on track and we look forward tofurther developments at Kono over the coming months." Ends Notes 1. The information in this update that relates to Exploration Results, MineralResources or Ore Reserves is based on information compiled by Jim Davidson, Pr.Sci Nat (reg No 400031/06), who is a Member of the Geological Society of SouthAfrica, a 'Recognised Overseas Professional Organisation' ('ROPO'), included ina list promulgated by the ASX from time to time. Jim Davidson is a full-timeemployee of Petra Diamonds and has sufficient experience which is relevant tothe style of mineralisation and type of deposit under consideration and to theactivity which he is undertaking to qualify as a Competent Person as defined inthe 2004 Edition of the 'Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves'. Jim Davidson has given his written consentto the inclusion in this announcement of the matters based on his information inthe form and context in which it appears. 2. It should be noted that the potential quantity in this report is conceptualin nature, there has been insufficient exploration to define a Mineral Resourceand it is uncertain if further exploration will result in the determination of aMineral Resource. For further information on Mano River Resources and its exploration programme,you are invited to visit the Company's website at www.manoriver.com or contactone of the following: Tom Elder President and CEO Mano River Resources Inc. +44 (0) 1235 810740Justine Howarth/Ana Ribeiro Parkgreen Communications +44 (0) 20 7493 3713Jamie Cumming Bell Lawrie UK +44 141 221 7733Raz Hussein Controller Canada +1 (604) 689 1700 This information is provided by RNS The company news service from the London Stock Exchange