The Saxendrift Project was acquired by Rockwell in April 2008. It is located on the south bank of the Orange River in the Herbert district of the Northern Cape Province, some 50 km southwest of Douglas and some 160 km from Kimberley. Rockwell holds a 74% interest in the property. The remaining 26% is held by the Company's Black Economic Empowerment partner.
Saxendrift is adjacent to Wouterspan, which is located on the north bank of the Middle Orange River. The proximity of these projects offers Rockwell the opportunity to maximize existing infrastructure and operational synergies.
Fiscal 2011 performance statistics:
| |
|
| Volume(cubic metres) |
1,449,875 |
| Carats |
6,705 |
| Average grade (carats per 100 cubic metres) |
0.46 |
| Sales (carats) |
6,956 |
| Value of Sales (US$) |
13,931,120 |
| Average value (US$ per carat) |
2,003 |
Production at Saxendrift declined to 6,705 carats from as a result of a 37% decrease in the average grade achieved during fiscal 2011.
Sales from Saxendrift were 6,956 carats at an average price of US$2,003 per carat, a decrease in carats and increase in value per carat sold from 8,667 carats at an average value of US$1,968 per carat in the twelve months ended February 28, 2010.
| Rough Diamond Inventories |
Carats |
| Beginning of Period* |
534 |
| Production |
6,705 |
| Rough Diamond Sales |
6,956 |
| End of Period |
283 |
Geological setting and mineralization:
Alluvial diamond deposits preserved in fluvial-alluvial palaeochannel and deflation gravels (Rooikoppie) in Orange River terraces.
Processing Plant:
| 130,000 m3 monthly production capacity |
| 18ft Rotary-pans (4) |
| Scrubbers (4) |
| Flow-sort X-ray machines (10) |
Mineral resource/reserve estimates:
Saxendrift Mineral Reserves
| Mining Area |
Reserve Classification |
Volume (m³) |
Grade* (ct/100m³) |
Carats |
Value# (USD/ct) |
| Total/Average Saxendrift Mine Probable Reserve (Terrace A) |
4,859,900 |
0.50 |
24,299 |
2,029 |
* At 2mm bottom cut-off
Subsequent to November 30, 2010 during December 2010 to February 28, 2011, the Company has processed 289,540 cubic metres, so the probable reserve at year end is 4,570,400 cubic metres grading 0.5 carats per 100 cubic metres.
The mineral reserves above are included in the mineral resources below.
Saxendrift Mineral Resources
| Mining Area |
Resource Classification |
Volume (m³) |
Grade* (ct/100m³) |
Value# (USD/ct) |
| Terrace A |
Indicated |
4,859,900 |
0.50 |
2,029 |
| Terrace B |
Indicated |
1,774,600 |
1.15 |
| Total/Average Saxendrift Mine Indicated |
6,634,500 |
0.66 |
2,029 |
| |
|
|
|
|
| Terrace A |
Inferred |
5,400,000 |
0.50 |
2,029 |
| Terrace B |
Inferred |
86,000 |
0.68 |
| Kwartelspan prospect |
Inferred |
500,000 |
1.00 |
| Total/Average Saxendrift Inferred |
5,986,000 |
0.56 |
2,029 |
* At 2mm cut-off
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