Post by Franko10 ™ on Sept 16, 2004 9:11:44 GMT -5
Diagem International Resources Corp. (the “Company” or “Diagem”) is pleased to announce that that KWG Resources Inc. ("KWG"), in which it holds a 39.4% interest,) and KWG's joint venture partner, Spider Resources Inc. ("Spider"), report that 24 of 52 regional rock samples selected from their jointly held 45 square kilometer property near Wawa, Ontario, contain diamonds. In total, 565 diamonds were recovered from 24 samples, of which 50 are classified as macrodiamonds. Nine of these 24 sample locations contain in excess of 1 diamond per kilogram. Of these nine, four sample locations have been identified where the macro/kg ratio is in excess of 0.25 macros per kilogram. Men-167 returned the highest macro/kg ratio of 1.47 macrodiamonds per kilogram. The following table provides a listing of all samples that tested positive during the most recent phase of exploration:
Location
number Wt. (kg) Obs
No Stones >0.5mm <0.5mm Ratio
macro/kg Ratio
diamonds/kg
2002-LAL-136 15 4 3 1 0.2 0.3
2002-LAL-145 15 1 0 1 0.00 0.1
2002-LAL-146 15 35 7 28 0.47 2.3
2002-LAL-153 15 19 0 19 0.00 1.3
2002-LAL-156 15 215 5 210 0.33 14.3
2002-LAL-157 15 44 4 40 0.27 2.9
2002-LAL-158 15 48 1 47 0.07 3.2
2002-LAL-168 15 1 0 1 0.00 0.1
2002-LAL-170 10.16 5 0 5 0.00 0.5
2002-LAL-172 15 3 0 0 0.00 0.2
2002-LAL-173 15 9 0 9 0.00 0.6
2002-LAL-174 15 17 0 17 0.00 1.1
2002-LAL-176 15 1 0 1 0.00 0.1
2002-LAL-177 15 1 0 1 0.00 0.1
2002-LAL-178 15 2 1 1 0.07 0.1
2002-LAL-185 15 64 1 63 0.07 4.3
2002-LAL-190 15 1 0 1 0.00 0.1
2002-LAL-191 15 13 1 12 0.07 0.9
2002-MEN-150 15 1 0 1 0.00 0.1
2002-MEN-151 15 1 1 0 0.07 0.1
2002-MEN-161 15.89 1 1 0 0.06 0.1
2002-MEN-162 15 15 1 14 0.07 1.0
2002-MEN-166 15 5 2 3 0.13 0.3
2002-MEN-167 15 59 22 37 1.47 3.9
Exploration completed to date on this diamond prolific property has resulted in the identification of 47 outcropping diamond occurrences. It is further reported, that the best diamond results obtained to date, occur within or near, 5 or possibly 6 volcanic eruptive centers that have been geologically mapped on the property. Two of the recent prospecting sample results are considered by management to be very significant. A 15 kilogram sample (Menz - 167, previously reported upon July 25, 2002) yielded 59 diamonds of which 22 were classified as macrodiamonds (having one dimension in excess of 0.5mm); while another 15 kilogram sample (Lal - 156, not previously reported) yielded 215 diamonds of which 5 were classified as macrodiamonds.
This property-wide prospecting program used geologic textures of rock outcrops, as well as recent diamond content results of the various rock types encountered as criteria for sample selection. Three main areas of interest had been previously identified, consequently prospecting was concentrated in these areas. Limited prospecting was done on areas outside of the three main areas of interest. Fifty-two samples were selected and shipped to Kennecott Exploration Canada's diamond recovery laboratory in Thunder Bay, Ontario. All samples received by the lab were crushed to 6 mm and a 15 kg. representative sample was selected from each of the oversize samples. The 15 kg. sample was then treated by high temperature caustic soda (caustic dissolution) for its respective micro-macro diamond content. The caustic dissolution concentrate was observed for diamonds of all size fractions.
Lakefield Research Ltd. has been retained to perform a scoping study on four mini-bulk samples weighing approximately 2.5 tonnes each, being representative of various locations where the joint venture had received encouraging diamond results from the previous years prospecting program on the property. These four mini-bulk samples are being processed by the typical diamond liberation techniques used for kimberlites in Canada. The resultant concentrates will be observed for their respective macrodiamond content only. To ensure that the macro-diamond test results from this portion of the exploration program are reliable, and provide an accurate test of the ability of the processing technique to liberate diamonds in this non-typical diamond bearing rock, a 50 kilogram representative sample of each 2.5 tonne sample was selected from the sample processing stream. Lakefield then treated the four 50 kg. samples for their respective micro-macro diamond content using caustic dissolution as a recovery method. The results of 50 kg samples will then be compared with the macro-diamond recovery results of the 2.5 tonne bulk sample to determine the effectiveness of the bulk processing technique being utilized on the diamond bearing rocks of the Wawa camp. The following table summarizes the caustic dissolution results on the initial 50 kg test charges:
Sample number wt. (kg) # diamonds <0.5 mm >0.5mm
BK-04 (50 kg split) 50 115 111 4
BK-05 (50 kg split) 50 63 63 0
BK-06 (50 kg split) 50 102 101 1
BK-07 (50 kg split) 50 9 9 0
Lakefield has recently completed the first phase of this mini - bulk sample process scoping exercise. Test results are encouraging however they are still incomplete. A secondary processing step has been proposed which will test the magnetically separated concentrates of the four 2.5 tonne samples. Due to the mineralogical makeup of the Wawa rocks, a disproportionately large percentage of the material reported to the magnetic concentrate, thus bypassing the process technique being used. This magnetic concentrate in some instances constituted up to 80% of the sample volume, this concentrate needs to be tested separately. Once the secondary processing step is completed, the aforementioned caustic dissolution results can then be used to compare the macro-diamond counts of the much larger sample with the smaller representative sample in an attempt to quantify the effectiveness of the selected and modified process for future mini-bulk samples. The end result of this tedious exercise can then be used to design an effective diamond recovery process for the "Wawa" type diamond occurrence. Management of the joint venture is confident that this scoping exercise, as monitored by Lakefield Research, will assist in any further exploration programs on the property that are designed to bulk test the rocks that host the "Wawa" type diamond occurrence.
Corporate Matters
Subject to regulatory approval the Company has granted 1,175,000 stock options to Directors, Officers and employees at an exercise price of $0.20 exercisable over five years.
For and on behalf of:
DIAGEM International Resource Corp.
"David Cohen"
President