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Southstone Minerals Ltd V.SML

Alternate Symbol(s):  FDGMF

Southstone Minerals Limited is a Canadian junior mining company. The Company is engaged in the acquisition, exploration, evaluation, development and mining of mineral properties. The Company holds a 43% interest in the Oena Diamond Mine (Oena), which is located in the Northern Cape Province, Republic of South Africa that consists of one New Order Mining Lease. Oena is a producing alluvial diamond property. Oena is approximately 8,800 hectares in size and covers a 4.8 kilometers (kms) wide strip along a 15 kms length of the lower Orange River. The property has two separate and distinctly different aged diamondiferous bearing paleochannel gravels: Proto-terraces and Meso-terraces. Its subsidiaries include TGV Resources (Pty) Ltd, African Star Minerals (Pty) Limited and GAH Mining (Pty) Ltd.


TSXV:SML - Post by User

Post by Pacmannon Oct 31, 2019 1:28pm
98 Views
Post# 30292920

News. Oena

News. Oena
Southstone Reports Continued Recovery of High-Quality Diamonds from Oena GlobeNewswireOctober 31, 2019, 9:12 AM PDT VANCOUVER, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Southstone Minerals Limited (Southstone or the Company) (TSX.V SML) is pleased to provide an operational and production update for the Oena Diamond Mine (Oena). During the production period, 8 August to 16 October 2019, a total of 742 carats were produced, placed on tender and sold with an average price of US1,495 per carat (USD $1,110,164 in sales). Southstone maintains its strategic focus on its diamond operations, in particular the Companys flagship asset the Oena Diamond Mine, located in the Northern Cape, South Africa, which produces very high-quality diamonds. There are currently two mining contractors on site operating eight (8) pan plants which process both run of mine (ROM) and pan tailings and bantam material (Tailings) and one Bourevestnik (BVX) unit is used for diamond recovery. The two mining contractors continue their activities at Oena as per a Contract Mining and Diamond Recovery Agreement (see news releases dated 2 May 2018, 10 October 2018 and 16 November 2017) and a Joint Operating Agreement (see news release date 17 June 2019).
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