Post by Franko10 ™ on Sept 16, 2004 9:11:05 GMT -5
Diagem International Resources Corp.'s (the “Company” or “Diagem”) bulk testing program on our Property 108 is nearly complete and continues to show encouraging results. Paulo Andreazza (VP Exploration) provides preliminary results from the latest test pit #7 that yielded 888 diamonds weighing 75.45 carats, with sizes up to 2.05 carats. Results from Test Pits 8 and 9, along with an overall summary of the entire program will be released shortly.
The 888 diamonds were recovered from approximately 120 cu.m. of gravels close to the Sao Luiz River, in the South Western quadrant of Property 108 in the Juina Diamond Province, Mato Grosso State, Brazil. Management is encouraged by the quantity of diamonds in the different gravels tested in this program to date, and while these do vary, the diamond quality, and the effectiveness of the movable plant create grounds for optimism that viable deposits are present on this property.
When combined with previously proven data, the results of the test program on the 108 property gives us sufficient information to make our final exploration report to the Brazilian mining authority. When approved, this report will allow us to apply for our formal mining concession on the property.
With funds in place as a result of our recent C$1.5 Million financing, we are accelerating implementation of previously announced plans.
Our Brazilian team is currently busy preparing to launch the next phase of our much anticipated work program on property 213. In the next three weeks Diagem will commence processing material from the Sorriso River and Chicorria Creek areas, now using two plants with a capacity of 35 cu.m per hour. These waterways immediately drain an area hosting five known, but little tested, diamondiferous kimberlite pipes, the "Chicorria Cluster". Prior results from small test samples taken from these kimberlite pipes (reported October 2000) demonstrated the existence of diamonds, micro and macro, as well as the presence of minerals associated with diamond bearing potential. These kimberlite pipes are believed, but as yet unproven, to be the source of the vast quantities of diamonds, particularly larger diamonds, that are recovered down stream. Diagem's first objective is to identify areas with gravels capable of sustaining regular cash flow.
The moveable plant (10cu.m. per hour) will be first into the area and will immediately start testing these highly potential gravels. Processing capacity, and therefore diamond recovery, should increase sharply in the coming weeks with Diagem's "Pilot Plant"(25 cu.m. per hour). This specially designed plant has reached the final stages of construction, site preparation has started and trials should begin later in this month.
Our program in Brazil is at an important stage, with all the key elements in place, our program can now proceed quickly and positively ahead.
For and on behalf of:
DIAGEM International Resource Corp.
"David Cohen"
President
The 888 diamonds were recovered from approximately 120 cu.m. of gravels close to the Sao Luiz River, in the South Western quadrant of Property 108 in the Juina Diamond Province, Mato Grosso State, Brazil. Management is encouraged by the quantity of diamonds in the different gravels tested in this program to date, and while these do vary, the diamond quality, and the effectiveness of the movable plant create grounds for optimism that viable deposits are present on this property.
When combined with previously proven data, the results of the test program on the 108 property gives us sufficient information to make our final exploration report to the Brazilian mining authority. When approved, this report will allow us to apply for our formal mining concession on the property.
With funds in place as a result of our recent C$1.5 Million financing, we are accelerating implementation of previously announced plans.
Our Brazilian team is currently busy preparing to launch the next phase of our much anticipated work program on property 213. In the next three weeks Diagem will commence processing material from the Sorriso River and Chicorria Creek areas, now using two plants with a capacity of 35 cu.m per hour. These waterways immediately drain an area hosting five known, but little tested, diamondiferous kimberlite pipes, the "Chicorria Cluster". Prior results from small test samples taken from these kimberlite pipes (reported October 2000) demonstrated the existence of diamonds, micro and macro, as well as the presence of minerals associated with diamond bearing potential. These kimberlite pipes are believed, but as yet unproven, to be the source of the vast quantities of diamonds, particularly larger diamonds, that are recovered down stream. Diagem's first objective is to identify areas with gravels capable of sustaining regular cash flow.
The moveable plant (10cu.m. per hour) will be first into the area and will immediately start testing these highly potential gravels. Processing capacity, and therefore diamond recovery, should increase sharply in the coming weeks with Diagem's "Pilot Plant"(25 cu.m. per hour). This specially designed plant has reached the final stages of construction, site preparation has started and trials should begin later in this month.
Our program in Brazil is at an important stage, with all the key elements in place, our program can now proceed quickly and positively ahead.
For and on behalf of:
DIAGEM International Resource Corp.
"David Cohen"
President