Paragon Diamonds has received a one year extension to its key Lemphane kimberlite exploration licence in Lesotho.
The mining licence covers an area of 6.33km2 in Lesotho, is owed by the Group’s 85% controlled subsidiary Meso Diamonds and is valid for 12 months.
Go deeper with GlobalData
Paragon Diamonds chairman Francesco Scolaro said, "This extension will enable Paragon to continue its rapid exploration of the kimberlite with a view to completing the bulk sampling and moving towards a scoping study as quickly as possible. Along with our rapid development of the Motete Dyke system this gives us a great platform to develop into a Lesotho-focused diamond producer."
The group obtained the licence in May 2011 and immediately started a rapid exploration programme to evaluate the kimberlite. The extension licence had just over a year left at that time and minimal work had been undertaken.
The company plans to complete the bulk sampling programme that is currently underway, increase the kimberlite tonnage taken from sample locations in the kimberlite and conclude on the evaluation work .
It will start a scoping study and aims to obtain a trial mining licence thereafter.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
