Majestic on track

PERTH-based diamond explorer Majestic Resources NL has completed a due diligence on the its newly acquired Masons Deposit in South Africa and plans to start mining diamonds in the third quarter of this year.

The company paid $1 million to acquire the mineral rights for the diamond concession located about fifty kilometres south-west of Kimberley on the Reit River.

The concession is located on the Schutsekama farm and hosts some eight million to ten million tonnes of near surface palaeochannel

gravels.