Americas Diamond Corp. Announces Commencement of Site Preparation Work for the Company's Bulk Diamond Sampling Program
LONDON, March 26, 2013 (GLOBE NEWSWIRE) -- Americas Diamond Corp. (OTCBB:ADMC) ("Americas Diamond" or "the Company") announces the commencement of site preparation work, in anticipation of the commencement of its final program of bulk-sampling on the Natal I and II diamond concessions.
The Company can report the site is drying out after a very heavy rain season, in which a reported rainfall in excess of over 300 inches fell from May 2012 to early 2013. As the weather has improved, it has allowed for earth moving to recommence and the refurbishment of both site and local roads, in addition to maintenance and rebuilding of several bridges, enabling better access to the key areas of the concessions.
Recent efforts have been concentrated on repairing and maintaining internal access roads, in addition to roads from the Chalana ferry terminal on the Guaniamo River leading to the camp and plant site. New roads to service the commencing points of the new down-dip extensions in the Belmudez zone are also being built.
The Company has had permits approved to purchase thousands of gallons of low-cost petrol and diesel, which will be stockpiled to allow for continuous operation during the dry season. Time is also being dedicated to repairs and routine maintenance, and the servicing of all vehicles, machinery and earth moving equipment. As soon as practicable, the Company intends to order spare parts for plant screens, pumps and spigots for the DMS 3 Stage recovery unit, and automotive spares for mining the 2 long declines which will be mechanically demanding on the earth-moving vehicles
The site preparation and maintenance must be completed prior to the commencement of the bulk sampling program, which has been designed to test the down-dip extensions of the Belmudez diamondiferous zone.
It is anticipated that approximately 100,000 tonnes of treatable material will be put through the diamond recovery plant during the sampling program. From sampling to date, the Company believes this effort could produce between 10,000 and 20,000 carats in total, which is well in excess of the 5,000 carats widely recognized as providing enough of a sample to measure the style of a "diagnostic individual diamond population." The program, as designed, has an operating budget set at between $1-2 million, with additional capital expenditures of approximately $250,000 in the first year.
"It is essential this preparation work is completed before we commence the bulk sampling program. We need to ensure all equipment is serviced, access roads and bridges repaired. This will allow for the bulk sampling program to move forward much more smoothly. The team are working hard, and we anticipate being ready to commence the main bulk diamond sampling program shortly," said Daniel Martinez, Chief Executive Officer, Americas Diamond Corp. For more information and images of the work in progress please visit the Company website at www.AmericasDiamondCorp.com
ABOUT AMERICAS DIAMOND: Americas Diamond Corp., (OTCBB:ADMC), is a publicly traded diamond and precious metals exploration company focused on effectively and efficiently acquiring, exploring and developing high impact natural resource properties. More information can be found on our website, www.AmericasDiamondCorp.com.
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Americas Diamond Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Americas Diamond Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Americas Diamond disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
ON BEHALF OF THE BOARD OF DIRECTORS,
Americas Diamond Corp.
President and Chief Executive Officer