Mambéré

Gem Diamonds holds a 75% interest in Gem Diamonds Centrafrique SA, in partnership with the Government of the CAR, which holds the remaining 25%. Gem Diamonds Centrafrique holds exclusive exploration and mining rights to the 855km² Mambéré Concession.

In the target area on the Mambéré River, a sampling campaign was carried out across terrace and modern gravels in 2007. The diamond grade from these older terraces was found to be sub-economic and the exploration team started work in the modern day river in early 2008.

Results from sampling in the Mambéré River during 2008 were far more promising, with high grades achieved in the low level gravels. However, an economic technique for extracting these diamonds remains to be determined and the operation was put into care and maintenance in November 2008.

The price per carat achieved for the Mambéré diamonds will be a critical factor in determining the value of the resource and the longer term feasibility of the project. More than 4,500 carats will be exported for sale in early 2009.