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Newfield subsidiary secures 25-year license for Tongo diamond project

Newfield Resources Ltd. unit Sierra Diamonds Ltd. received the large-scale mining license for the 9.98-square-kilometer area hosting its Tongo Dyke-1 kimberlite resource in Sierra Leone.

The license is valid for 25 years from May 16, 2018, according to a Jan. 15 release.

The license is adjacent to the 124-square-kilometer Tonguma mining license. Together, the licenses cover the 7.4 million-carat, JORC-compliant mineral resource hosted by the Tongo diamond project.

Meanwhile, the front-end engineering design study for the Tongo project is expected to be released during the first quarter.

The company also said about 2,000 carats have been yielded from processing stockpiled bulk samples of the Kundu, Lando and Pandebu kimberlites. In the fourth quarter of 2018, two diamond parcels totaling 1,626 carats were exported to Antwerp for assortment and valuation.