TRUSTCO GROUP HOLDINGS LIMITED - Resources Segment Operational Update: Meya Sale of Diamonds During October 2018

Resources Segment Operational Update: Meya Sale of Diamonds During October 2018

TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
Registered as an external company in South Africa
(External registration number 2009/002634/10)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
(“Trustco” or “the Company”)


RESOURCES SEGMENT OPERATIONAL UPDATE: MEYA SALE OF DIAMONDS DURING OCTOBER 2018


Trustco is pleased to advise Trustco shareholders (“Shareholders”) of the following operational
update related to Meya’s exploration program and wishes to inform Shareholders of following
operational activities:


•     Meya extracted more kimberlite from the Meya River bulk sample from 375 to 355 metres
      above mean sea level (“mamsl”) along Dyke Zone B. This sample produced 2,603.99 carats
      which were exported to Antwerp for the October 2018 tender. It included 2,202.71 carats
      recovered during the first pass of the Run of Mine (“RoM”) material through the plant and
      401.28 carats from the second pass DMS tailings audits, which was crushed down from 10 mm
      to 8 mm.


•     Due to softer market conditions and downward pressure on the smaller size diamonds, Meya
      withdrew 15 Lots totalling 900.98 carats from the tender, which will be sold once the market
      conditions improves.


•     The remaining 1,689.17 carats were sold for USD 654,501.81 at an average price of USD 387.47
      per carat, which compared well with Meya’s previous sales, indicating that there is relative
      stability in the larger sizes and better quality diamonds. All of which is reflective in the results
      achieved
•    Meya exposed a second kimberlite dyke within the Meya River sample area along Dyke Zone B.
     It is 15m north and runs parallel in orientation to the original Meya River Dyke. Earlier drilling
     results indicated that the second dyke is geologically similar to the original Meya Dyke but
     widens at depth. A small sample consisting of 141 tonnes kimberlite from this Dyke was treated
     during October 2018, which indicated that the in situ grade is 0.65 carats per tonne prior to a
     DMS tailings audit / second pass.


•     Meya also took delivery of new mining equipment from Volvo to further increase capacity. The
      increased capacity will enable the company to commence with excavations on the Simbakoro
      Dyke, which is located some 800m north of Dyke Zone B running on a parallel orientation, during
      November 2018. Meya aim to verify the geo-economic potential of this Dyke by January 2019.




Windhoek, Namibia
25 October 2018


Amanda Bruyns
Company Secretary: Trustco Group Holdings Limited


JSE Sponsor
Vunani Corporate Finance


NSX Sponsor
Simonis Storm Securities Proprietary Limited

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