AFA is up 5% on 1.2 million shares, on top of the news. It looks like AFA will be moving alot in the coming weeks. I will continue to watch this stock and it is good to see something after the slow period.
I am also going to put the news up
Afri-Can Progress Report: Feature 6 Target Area Increases by 57%
Thursday July 5, 9:54 am ET
MONTREAL, QUEBEC--(CCNMatthews - July 5, 2007) - Afri-Can Marine Minerals Corporation ("Afri-Can")(TSX VENTURE:AFA - News; FRANKFURT:AJF - News) is pleased to announce it has completed the first of four progress reports covering the analysis and interpretation of the geophysical survey and vibracoring data gathered in November 2006 on the Block J marine diamond concession in Namibia. The report is entitled "The Geology of Feature 06 and Proposed Phase 3 Sampling Grid (Round 1)" and is available on our website at www.afri-can.com and will be available shortly on the SEDAR website at www.sedar.com. Data from Block J Features 08, 17 and 19 are still being analyzed and will be the subject of three subsequent progress reports. All the progress reports will be compiled into a final report on Block J in compliance with National Instrument 43-101.
- A major ancient drainage system from the continent crosses the centre of the Block J lease area. Valleys were in existence when diamonds arrived in the area, and Feature 6 contains extensive deep-water diamond deposits. During lowering sea levels as the ice sheets advanced for the last time, previous diamondiferous deposits were eroded and re-worked, forming the surface on which the latest diamondiferous gravels were deposited.
- Approximately 18,000 years ago, Feature 6 occupied a shoreline on the northern fringe of a large embayment. As such, it could have been a significant trap site for diamonds moving along the coast. As sea levels rose, from about 15,000 years ago, the advancing beaches deposited diamondiferous gravels in their wake across all the low-lying areas of Feature 6.
- As a result of the much more detailed information gained during the 2006 geophysical survey and vibracoring, and the geological history that is now evident, the area targeted for sampling has increased by 57% from the previous 4.1 square kilometres to 6.45 square kilometres.
- It is proposed that a first round of sampling comprising a 200 metres X 200 metres square grid, with approximately 155 samples of 10 square metres each, will cover the target area with the objective of establishing an Inferred Diamond Resource in compliance with National Instrument 43-101. It is anticipated that this programme will take about 20 days to complete.
"We are pleased with the progress of the work and look forward to the successful completion of the resource delineation programme," commented , President and CEO of Afri-Can. "Feature 6 forms a known aeolian-fluvial diamondiferous deposit, and is structurally similar to known deposits in the Luderitz area in Namibia where an historical inferred diamond resource of 4.1 million carats has been estimated."
Mr. Richard W. Foster is responsible for the progress report "The Geology of Feature 06 and Proposed Phase 3 Sampling Grid (Round 1)" and is the designated Qualified Person under the terms of National Instrument 43-101. Mr. Foster has given approval to the reference to the report and information derived therefrom in this announcement in the form and context in which it appears. Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's large and prospective license holdings, together with its growth strategy, place it as the partner of choice for Namibian Empowerment Groups.
This press release contains certain "forward-looking statements," as identified in Afri-Can's periodic fillings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Shares outstanding: 127,770,955
The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Pierre Leveille
Afri-Can Marine Minerals Corporation
President & CEO
514- 846-2133
514-846-1435 (FAX)
Bernard J. Tourillon
Afri-Can Marine Minerals Corporation
Executive V.P. and CFO
514-846-2133
514-846-1435 (FAX)
info@afri-can.com
www.afri-can.com
