Owner
Post by Franko10 ™ on Sept 16, 2004 7:57:12 GMT -5
Emerging Africa Gold (EAG) Inc. (the "Company" or "EAG") and its partner have dug and processed their first 15cu.m. diamondiferous gravel bulk sample at their Juina Joint Venture Property 1000, Mato Grosso, Brazil. The sample yielded 89 diamonds weighing a total of 33.80 carats, including 8 stones weighing more than 1 carat each accounting for a total of 18.20 carats. The sample lies very close to, and is immediately downslope from kimberlite pipe ARP-01 which is still ill defined and untested.
EAG and its Joint Venture partner, Juina Mining Corp. ("JMC"), undertook, between April 14 and April 24, the digging and processing of the first bulk sample of a comprehensive and systematic diamond evaluation and ore reserve determination program. The program will call for the collection and treatment of 44 such bulk samples laid out on a grid pattern, each sample having a volume of approximately 20cu.m.
The work has taken place at its Joint Venture Property 1000 located within the prolific Juina kimberlitic diamond mining district, north-western Mato Grosso State in west central Brazil.
The waterlogged overburden covering the gravels was removed by pumping in less than four days following a two-day equipment and personnel mobilization period. Approximately 15cu.m. of diamondiferous gravels were removed and treated in a mechanical jig, followed by hand concentration of the jig product. The resulting concentrate was sorted mechanically and electronically for diamonds in a Sortex machine. 89 diamonds have been recovered.
The eight largest diamonds, above 1 carat each, have a total weight of 18.20 carats for an average weight of 2.27 carats; the largest weighs 4.25 carats. The remaining 81 stones have an average weight of 0.19 carat. The average weight of all 89 diamonds is 0.38/carat. The parcel will be sent shortly for evaluation and determination of the average value per carat. In the past the property has yielded a number of large stones ranging up to 40 carats in size, of which a few have been of gem quality and cut accordingly.
Table 1 - Diamond Production Summary
NUMBER OF STONES TOTAL WEIGHT (CARATS) Stones greater than 1 carat 8 18.20
Stones less than 1 carat 81 15.60
Total Stones 89 33.80
Table 2 - Individual weights of stones greater than 1 carat
INDIVIDUAL STONE WEIGHTS (CARATS) 4.25
3.25
2.95
2.50
1.40
1.40
1.25
1.20
Work done on the property in 2001 resulted in the complete rehabilitation of the plant which has a capacity of 15cu.m./hour. It also included the carrying out of preliminary geological mapping and a soil sampling survey for kimberlite indicator minerals. There are strong indications that the result just reported came from a sample which lies very close to the edge of kimberlite pipe ARP-01. The latter remains to be delimited exactly and has not been sampled. However it is likely to be diamondiferous. This is substantiated by the very large amount of kimberlite ilmenite that accompanies the diamonds. The sample was collected from an area in which a resource of 1,000,000cu.m. of diamondiferous gravels has been estimated from previous programs of auger drilling and test pitting. In 1998 and 1999, 3,007 carats were extracted from approximately 2,700cu.m. of these gravels.
At the moment, EAG and its partner are awaiting a license from a federal environmental protection agency; IBAMA, which will authorize the operation of the plant; this license is expected shortly. All other necessary permits and licenses have been obtained, including the permission to extract 100,000cu.m. of diamondiferous gravels from the property for bulk sampling and test mining purposes.
The results achieved are truly exiting, not only for their economic implications regarding the diamondiferous gravels but also for their indications regarding the economic potential of the neighboring kimberlite pipe, ARP-01.
EAG will hold its annual and special meeting on May 24th at which meeting the shareholders will vote to approve the merger of EAG with Diagem International Resource Corp. ("Diagem"). At the conclusion of the meeting, subject to shareholders approval, the EAG shares will be exchanged for Diagem shares on a one to one basis. Diagem holds, in the same Juina area, more than 20 permits, of which some contain large resources of diamondiferous gravels and a number of kimberlite pipes also believed to be diamondiferous, but which have not yet been formally sampled. Large gemstones have been recovered from the gravels.
EAG and its Joint Venture partner, Juina Mining Corp. ("JMC"), undertook, between April 14 and April 24, the digging and processing of the first bulk sample of a comprehensive and systematic diamond evaluation and ore reserve determination program. The program will call for the collection and treatment of 44 such bulk samples laid out on a grid pattern, each sample having a volume of approximately 20cu.m.
The work has taken place at its Joint Venture Property 1000 located within the prolific Juina kimberlitic diamond mining district, north-western Mato Grosso State in west central Brazil.
The waterlogged overburden covering the gravels was removed by pumping in less than four days following a two-day equipment and personnel mobilization period. Approximately 15cu.m. of diamondiferous gravels were removed and treated in a mechanical jig, followed by hand concentration of the jig product. The resulting concentrate was sorted mechanically and electronically for diamonds in a Sortex machine. 89 diamonds have been recovered.
The eight largest diamonds, above 1 carat each, have a total weight of 18.20 carats for an average weight of 2.27 carats; the largest weighs 4.25 carats. The remaining 81 stones have an average weight of 0.19 carat. The average weight of all 89 diamonds is 0.38/carat. The parcel will be sent shortly for evaluation and determination of the average value per carat. In the past the property has yielded a number of large stones ranging up to 40 carats in size, of which a few have been of gem quality and cut accordingly.
Table 1 - Diamond Production Summary
NUMBER OF STONES TOTAL WEIGHT (CARATS) Stones greater than 1 carat 8 18.20
Stones less than 1 carat 81 15.60
Total Stones 89 33.80
Table 2 - Individual weights of stones greater than 1 carat
INDIVIDUAL STONE WEIGHTS (CARATS) 4.25
3.25
2.95
2.50
1.40
1.40
1.25
1.20
Work done on the property in 2001 resulted in the complete rehabilitation of the plant which has a capacity of 15cu.m./hour. It also included the carrying out of preliminary geological mapping and a soil sampling survey for kimberlite indicator minerals. There are strong indications that the result just reported came from a sample which lies very close to the edge of kimberlite pipe ARP-01. The latter remains to be delimited exactly and has not been sampled. However it is likely to be diamondiferous. This is substantiated by the very large amount of kimberlite ilmenite that accompanies the diamonds. The sample was collected from an area in which a resource of 1,000,000cu.m. of diamondiferous gravels has been estimated from previous programs of auger drilling and test pitting. In 1998 and 1999, 3,007 carats were extracted from approximately 2,700cu.m. of these gravels.
At the moment, EAG and its partner are awaiting a license from a federal environmental protection agency; IBAMA, which will authorize the operation of the plant; this license is expected shortly. All other necessary permits and licenses have been obtained, including the permission to extract 100,000cu.m. of diamondiferous gravels from the property for bulk sampling and test mining purposes.
The results achieved are truly exiting, not only for their economic implications regarding the diamondiferous gravels but also for their indications regarding the economic potential of the neighboring kimberlite pipe, ARP-01.
EAG will hold its annual and special meeting on May 24th at which meeting the shareholders will vote to approve the merger of EAG with Diagem International Resource Corp. ("Diagem"). At the conclusion of the meeting, subject to shareholders approval, the EAG shares will be exchanged for Diagem shares on a one to one basis. Diagem holds, in the same Juina area, more than 20 permits, of which some contain large resources of diamondiferous gravels and a number of kimberlite pipes also believed to be diamondiferous, but which have not yet been formally sampled. Large gemstones have been recovered from the gravels.
