De la Françafrique à la Mafiafrique: François-Xavier Verschave. Entretien avec Enrico Porsia.

Gravity Diamonds: Positive Results In the Democratic Republic of Congo

Dow Jones, 28.04.2005

LONDON (Dow Jones)--Gravity Thursday posted positive results from its first work on unexplored diamond areas of the Democratic Republic of Congo.

70 sites in Kasai Craton show kimberlitic garnets; 10 return macrodiamonds, while a planned aeromagnetic survey will be extended into new target areas and it has completed target identification and follow-up planned for this field season.

Specific areas for follow-up in the current field season have been identified in the region which is considered to be one of the best unexplored diamond terrains in the world.

Laboratory analysis of the coarse fraction (+0.425mm) of the 247 samples collected in the 2004 field season shows that kimberlitic garnets and a large number of kimberlitic ilmenite grains have been recovered from 70 sample sites. Ten of these sites also returned macrodiamonds. The exact nature of the kimberlitic garnets will be determined by micro-probe analysis of selected grains over the next month.

The samples were sent to a specialist laboratory in South Africa for heavy mineral concentration, separation into several size fractions and scrutiny for the presence of kimberlitic indicator minerals. Results from analysis of the fine fraction of the samples are expected in about three weeks.

Gravity says the early commencement of the survey should allow the company to complete target identification and complete follow-up work before the end of the current field season.

Elsewhere within the Kasai project, stream sediment sampling has begun on the next block of concessions which cover an area of about 23,000 square kilometres. Gravity anticipates this phase of field work will take 3-4 months to complete, and results from the sample analysis are expected towards the end of 2005.

European investors presently own approximately 58 pence.c. of Gravity, with BHP Billiton holding a further 9.6 pence.c. and Gravity management and associates around 4 pence.c.

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