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Tango Mining shares sparkle as it unveils latest Oena diamond sales

Shares in Tango Mining Ltd added over 8% in Toronto as it updated on diamond sales from the Oena mine in South Africa.

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The top 53 diamonds in value, of the 183 recovered, totalled 174.46 carats, Tango said

Shares in Tango Mining Ltd (CVE:TGV) added over 8% in Toronto as it updated on diamond sales from the Oena mine in South Africa.

In the month to March 20 this year 307.94 carats from 183 diamonds were produced and sold with an average price of US$875  per carat.

The top 53 diamonds in value, of the 183 recovered, totalled 174.46 carats, had an average size of 3.292 carats and were sold with an average price of US$1,358 per carat, it added.

Production from Oena, since it was bought, now totals 564.06 carats, which have been sold at an average price of US$1,330, said Tango.

Notably, as announced on February 28,  during test commissioning, a diamond of 36.34 carats was recovered and sold at US$6,054 per carat.

Oena covers a 4.8km wide strip along a 15km length of the Orange River in a well-established alluvial diamond-mining province known to produce high-quality and large-sized diamonds.

African Star Minerals , of which Tango has a stake, owns 100% of the property.

Tango shares gained 8.33% to stand at $0.065.

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TSX-V:TGV
Market: TSX-V
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