Exceptional 12100 Carat Tanzanite Stone Discovered (8673B)
28 Février 2011 - 8:00AM
UK Regulatory
TIDMTNZ
RNS Number : 8673B
Tanzanite One Limited
28 February 2011
TanzaniteOne Limited
("TanzaniteOne" or "the Company") (AIM: TNZ)
Exceptional 12,100 Carat Tanzanite Stone Discovered
TanzaniteOne Limited, the gemstones producer and developer,
today announces the recovery of the third largest high quality
gemstone ever mined in the 10 years operating history of the
tanzanite project.
The 12,100 carat (2.42 kg) rough tanzanite stone was discovered
recently at the Company's flagship tanzanite project, in the
Simanjiro district of Tanzania. The exceptional stone was recovered
from Main Shaft, located in the centre of the Company's licence at
a vertical depth of just over 450m. The stone was mined from a
newly intersected fold structure, with initial indications
suggesting an exceptionally high potential grade and quality yield
profile from the structure.
Initial examinations have indicated that it is the third largest
tanzanite gemstone recovered by the Company and thought to be the
third largest tanzanite stone ever found worldwide. The gemstone
will now undergo appropriate analysis, including colour and clarity
grading. The stone is expected to contain a significant 'A' grade
component under the tanzanite classification system. It will most
likely be divided into smaller but still exceptionally sized pieces
to be cut and polished at the Company's own state of the art,
in-house cutting facility which was commissioned in December 2010
at the TanzaniteOne mine site.
Bernard Olivier, TanzaniteOne's Chief Executive commented on the
find: "This is an extremely exciting discovery for TanzaniteOne and
is further evidence of the continued quality of gemstone that is to
be found at depth in this unique part of Africa and indeed the
world. Whilst we await the results of expert analysis on this
significant discovery, we will continue to realise the potential of
our mine, which produced a total of US$ 15.8 million in sales for
2010".
A picture of the tanzanite stone can be viewed using the
attached link:
http://www.rns-pdf.londonstockexchange.com/rns/8673B_-2011-2-25.pdf
For more information, please contact:
Willi Boehm, Company Secretary
+61 8 9367 5211
Bernard Olivier, Chief Executive Officer
+61 4089 48182
Nominated Adviser and Broker
Ambrian Partners Limited
Samantha Harris/ Richard Chase
+44 (0) 20 7634 4700
Joint Broker
XCAP Securities PLC
John Grant/Jon Belliss/David Newton
+44 (0) 20 7101 7070
Public Relations
Threadneedle Communications
Laurence Read/ Beth Harris
+44 (0)20 7653 9850
Qualified Person
The information in this announcement relating to exploration
and/or prospectively has been reviewed by Dr Bernard Olivier who
has sufficient relevant experience to the style of mineralisation
and type of deposit under consideration to meet the criteria of a
qualified person under the AIM note for mining, oil and gas
companies. Dr Olivier is a Member of the Australasian Institute of
Mining and Metallurgy and meets the criteria of a qualified person
under the AIM guidance note for mining, oil and gas companies. He
has compiled and approved the technical disclosures in this
announcement.
Notes to the Editor:
The following modified tanzanite grading and classification
system is currently being used by the Company:
Grade Description
-------- ------------------------------
A Exceptional Colour, Eye Clean
-------- ------------------------------
B Rare Deep Colour, Eye Clean
-------- ------------------------------
B (SI) B Colour - Slightly Included
-------- ------------------------------
B (I) B Colour - Included
-------- ------------------------------
BL Lighter Colour B grade, Eye
Clean
-------- ------------------------------
BL (SI) B Light - Slightly Included
-------- ------------------------------
BL (I) B Light - Included
-------- ------------------------------
D Opaque Material
-------- ------------------------------
TanzaniteOne is the largest and most scientifically advanced
miner and supplier of rough tanzanite, a unique position that
affords it the opportunity to support and influence the entire
channel, from mine to market, ensuring that maximum stakeholder
value is achieved at each stage of the process.
Our leading position in the tanzanite market has ensured
TanzaniteOne the recognition and respect of its peers and provides
the opportunity for expansion into a broader range of PCGs located
at various key sites around the world.
TanzaniteOne, which uses state-of-the-art optical sorters and
technically advanced processing and sorting methods, has further
enhanced its sorting techniques resulting in the unlocking of
further value in the B and BL categories. This initiative forms
part of the Group's stated refocus on its main production source,
lighter but equally brilliant stones. Additional evaluation
continues in this area as TanzaniteOne strives to unlock value in
this significant portion of its production.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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