MERLIN DIAMOND PROJECT
Merlin 2 Mining Lease MLN 1154 2 Orbit Tenement EL 26944
The Mining Lease contains 11 previously discovered kimberlite pipes in three general kimberlite clusters - Northern, Central and Southern. Two kimberlites have also been discovered on the Orbit Tenement. All kimberlite discoveries to date on the tenements are diamondiferous.
Of the 11 known kimberlites, eight of the kimberlite pipes were mined by Ashton Diamonds and Rio Tinto between 1999 and 2003, producing over 500,000 carats from 2,2 million tonnes ("Mt") of kimberlite treated, including the largest diamond ever recovered in Australia, a 104 carat, high-value Type IIa white diamond as pictured below.
The Mining Lease contains an existing kimberlite diamond resource containing 27.8Mt at an average grade of ~16 carats per hundred tonnes (“cpht”) for 4.4m contained carats (Table B). Just under half of the Resource (13.4Mt and 2.3m carats) is classified as indicated resource, based on recovered grades and achieved diamond value data from the 1999 – 2003 Ashton/ Rio mining campaign.