The Seppelt Diamond Project comprises a number of related kimberlite dykes, blows and pipes constrained within a narrow corridor over a strike length of some 6km. The Seppelt 1 pipe consists of 2 lobes about 100m apart, with a combined area of approximately 0.7ha. The pipe is located 5km NE of Seppelt 2 and within the same structural corridor. An inferred resource of 1.7 million tonnes at an average grade of 38.7cpht has been identified to a depth of 140m in the North lobe and a depth of 110m in the South lobe. Peripheral breccias account for an additional 200,000 tonnes and are largely reported in the upper portions of each lobe.
Seppelt 2 is a kimberlite pipe comprised of both weathered kimberlite and infill gravels. The gravels have a variable grade of approximately 50cpht and persist to a depth of 36m. Beneath the gravels is weathered kimberlite with a grade of 211cpht. The Seppelt 2 pipe has an inferred resource of 200,000 tonnes to 200m depth. The largest diamonds recovered to date includes one 8.5ct and one 6.3ct diamond. The 8.5ct diamond being a clear, white and of gem quality and valued at US$1,500 per carat (US$12,600).
The Seppelt pipes continue to have economic potential, but this can not be realized at current diamond price levels.
Ongoing exploration at Seppelt is focused on the discovery of kimberlites within the already identified Seppelt structural corridor as well as the orbit area. Exploration to date has identified a number of areas where both indicator minerals and commercially sized diamond occurrences remain unresolved.
NAD Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
