Namibian Projects
Namibia remains the focus for development of Bonaparte's marine phosphate project.
Namib Project (70%)
EPL 3323
Bonaparte Diamond Mines NL has identified its preferred contractor to undertake a systematic sampling programme over the phosphatic seabed sediments in the 1000km2 Meob Project area (EPL3323). The contract is being finalised and is expected to be signed this week for commencement of sampling operations before the end of July 2008.
The phosphate deposits off Namibia were delineated during regional studies in the 1970's but have remained undeveloped to date. Sampling during 2007 showed phosphate grades in EPL3323 to be consistent with historic sampling and demonstrated potential for enrichment to commercial grades (up to 35% P2O5).
Namib Project (70%)
EPL3241 and EPL3533
The Tsauchab and Tsauchab East leases lie within the submerged trajectory of the Tsauchab River palaeo channel and within a south facing coastal embayment. Studies have shown that such features present favorable environments for diamond entrapment and concentration.
Luderitz Project
ML111 DFI JV
Bonaparte Diamond Mines NL has completed the current phase of joint mining operations in the Dias Reef operations area within DFI's ML111 mining licence offshore Namibia.
Remaining resources in the joint operations area will be available for future mining should the economics warrant.
Luderitz Project
ML139 (formerly 1607b) DFI JO
The ML139 project is a JO between Bonaparte and DFI in which Bonaparte has exclusive rights to explore for diamonds in DFI's very prospective exploration licence area ML139 comprising 136km2. Bonaparte retains a 50% - 90% interest in any resources it identifies, depending on whether DFI elects to be the operator or not. Presence of diamonds in the area has already been proven by DFI in early reconnaissance sampling in the late 1990' s.