Trilliant Exploration Corp., a fully operational gold mining company with concessions in southern Ecuador, has acquired a minority stake in privately held, Global Diamond Resources (GDR).
The £1.5 million (US$2.42 million) investment was made by Trilliant Exploration’s wholly owned UK subsidiary, Trilliant Diamonds Ltd. Global Diamond Resources maintains a 93% interest in the Kao Diamond Mine of Lesotho, South Africa.
Drilling at the Kao Diamond Mine has confirmed resources to 600 meters with over 147 million tones of proven and probable reserves. A full report of the Kao Diamond Mine has been completed by SRK Consulting (UK), Ltd. SRK analysts have stated in their final report that “Kao has considerable upside potential and that it could turn into a world class deposit.”
Mr. William Lieberman, President of Trilliant Exploration Corporation, stated, “We are very pleased to be making this minority investment into Global Diamond Resources. We see the investment into Global Diamond Resources as the first step to developing further the concessions held in the Kao Diamond Mine.” He added, “We are working towards appointing a Non Executive Chairman, who is an industry veteran that made the $2.42 million investment and who will be a very active participant in building its operations.”
Global Diamond Resources Plc (GDR), previously known as Lesotho Diamond Corporation Plc has secured mining leases and prospecting licenses in Lesotho, the Democratic Republic of Congo and Botswana. In the next five years GDR has a commercial objective of producing a million carats per annum through its major kimberlite diamond operation at The Kao Diamond Mine and its alluvial operations in the DRC.
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