9 September 2024
September 9, 2024; Calgary, Alberta – Burgundy Diamond Mines Limited (ASX:BDM) (Burgundy or the Company) has released an amended ASX announcement, including a JORC code Table 1.
CEO, Kim Truter: “We are pleased to announce that results from our current drilling programme are indicating that the Misery pipe, which is a very high value ore source requiring almost zero development capital, is very likely to stay in production well past the original 2026 date.”
Drilling activities at the Misery mine commenced in July with six out of thirty-two holes now completed. All drill holes targeting the extension of the Misery Main ore body have intersected the kimberlite pipe contact earlier than modelled, confirming Burgundy’s understanding of a larger ore body at depth. Burgundy believes production at Misery will continue much longer than previously expected, however this will be formalised through the reporting of an updated Mineral Resource and Ore Reserve statement. Remarkably, during the first drillhole of the program (MDC-77), Burgundy’s drill crew noted a Fancy yellow diamond in the centre of the core, which was intersected ~25 m below the last planned mine level, and outside of the modelled ore body extent.
Drilling and bulk sampling of the Southwest extension to the Main ore body is also expected to commence in the fourth quarter. The Southwest extension represents an exciting new target known to be diamondiferous, based on historic mining in the open pit, however it has not been commercially targeted from the underground operation, nor part of any previous Ekati mine plans. Burgundy has quickly identified its opportunity for future mining and will be testing the body’s extent and diamond characteristics sufficient for Mineral Resource and Ore Reserve reporting.
As a result of the initial work and observations to date, Burgundy is confident in its decision to resequence the Sable underground project and associated development capital by at least a year, due to a projected surplus of ore availability.
Burgundy will be releasing updated Mineral Resource and Ore Reserves for the Misery Main ore body and its Southwest extension over the next four to six months, once all technical programmes have concluded. Ekati’s new official extended mine plan will be published shortly thereafter in Q1-2025.