Dolat Ventures Looks to Add Additional 125 Acres of Diamond Mining Leases in Sierra Leone
12 Julho 2012 - 9:15AM
Marketwired
Dolat Ventures Inc. (OTCBB: DOLV) diamond development company
focused on West Africa, is currently looking to add 125 additional
acres of diamond mining leases.
Dovid Hauck, President of Dolat Ventures, commented, "With Dolat
Ventures' success in its initial samplings of the baimbawai pool on
the Sewa River, we are looking to expand our mining site and lease
additional adjacent acres. Preliminary estimates have additional
acreage averaging 0.20 carats per ton."
He added, "It would be best to lease adjacent acres, so there
are more acres in the river above and below our site and more
acreage going inland, which is called terrace mining. So far, the
few times we have taken additional acres, the samplings and gravel
have been comparable to the baimbawai gravel."
Bulk Sampling Plans and Possible Results
The Company intends to accurately measure each sample and the
specific gravity and moisture content will be carefully determined
in order that the dry tonnage may be calculated. Expectations of a
diamond parcel weighing 500+ carats may achieve an average value of
$48/ct. On the basis of planned larger samples, the average diamond
value could increase to $70/ct. It may be decided to increase the
size of the bulk sampling to provide a larger diamond parcel on
which to base a more confident diamond valuation. Dolat intends to
be able to process up to 5 tonne per hour with diamond recovery
being achieved by X-Ray Flowsort with grease back up in secure
conditions and under observation from the Government Mines
Monitoring Officer.
Dolat's Millenium Mining is located in the Sewa River, located
in the heart of Sierra Leone, formed by the junction of the Bagbe
and Bafi rivers; it flows 150 mi (240 km) to join the Waanje River
and form the Kittam, which empties into the Atlantic Ocean. The
country's most important commercial river, it has historically
produced the bulk of Sierra Leone's diamond exports.
About Dolat Ventures Inc. (OTCBB: DOLV) www.dove-diamonds.com
Dolat Ventures Inc. through its wholly owned subsidiary Dove
Diamonds & Mining intends to sell, market, cut and distribute
its diamonds and gems around the world. The company intends to
wholesale its rough and uncut diamonds and gems to globally.
Forward-Looking Statements This press release may contain
certain forward-looking statements within the meaning of Section
27A of the Securities and Exchange Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended,
and such Forward Looking Statements are intended to be covered by
the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties. All
statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of acquisitions on our profitability, the effectiveness,
profitability, and the marketability of the Company's products; the
Company's ability to protect its proprietary information; general
economic and business conditions; the volatility of the company's
operating results and financial condition; and other risks detailed
in the Company's filings with the Securities and Exchange
Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Dovid Hauck President TEL 212-502-6657 FAX 212-501-2077 EMAIL
info@dove-diamonds.com
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