Afri-Can Approved to Purchase 20% of Thyme Investments Diamond Property

Afri-Can Marine Minerals Corporation (TSXV:AFA) announced it has been approved to acquire 20% of shares from Thyme Investments, the owner of the 3403 marine diamond concession in Namibia.

As quoted in the press release:

EPL 3403 covers approximately 800 square kilometres and is adjacent to and north of the Atlantic One Mining Lease (“ML”) 47 (owned by Namdeb Diamond Corporation (Pty) Limited, a 50:50 partnership between the Government of the Republic of Namibia and De Beers Centenary AG), which is the largest marine diamond deposit in the world. ML 47 is currently producing in excess of 1,100,000 carats per year.

Afri-Can’s President and CEO, Pierre Léveillé said:

We are pleased that the regulatory issues related to the approval have been resolved. The amendment provides better terms for the parties involved. Our previous sampling program has demonstrated the considerable potential of EPL 3403 and we are now able to focus on its development in order to unlock value for our shareholders.

Click here to read the Afri-Can Marine Minerals Corporation (TSXV:AFA) press release.