Owner
Post by Franko10 ™ on Sept 16, 2004 9:15:31 GMT -5
Diagem International Resources Corp. is pleased to announce that KWG Resources Inc. ("KWG"), in which it holds a 38.89% interest, and KWG's joint venture partner, Spider Resources Inc. ("Spider"), have reported highlights pertaining to the review of the past two years prospecting sampling program on their jointly held Wawa diamond property, located approximately 30 kilometers north of Wawa, Ontario along the Trans-Canada Highway #17. A total of ninety-two regional prospecting grab samples were selected from the 45 square kilometer property over the course of two field seasons (2001 – 2002). Of the 92 regional samples selected, 47 samples contained at least one diamond, 17 returned carat/tonne (“cpt”) values in excess of 0.1 cpt., furthermore eight of the samples returned diamond grades in excess of 0.25 cpt, while 4 of these returned values in excess of 0.5 cpt. One sample yielded a very significant grade of 2.617 cpt. (based upon 15 kilogram sample). The following table summarizes the highlights of the past two years regional sampling program, including diamond weights:
Sample number
ObsNoStones
Combined Weight of Diamonds (ct)
sample wt (kg.)
carat/tonne
2002-LAL-156
215
0.03925
15
2.617
2002-MEN-167
59
0.00865
15
0.577
2002-LAL-158
48
0.00855
15
0.570
2002-LAL-146
35
0.00790
15
0.527
2002-LAL-157
44
0.00650
15
0.433
2002-LAL-185
64
0.00640
15
0.427
2002-LAL-144
39
0.00460
15
0.307
Lal-12-2001
30
0.00755
27
0.280
Men-1-2001
28
0.01120
46.7
0.240
2002-LAL-153
19
0.00335
15
0.223
Lal-17-2001
12
0.00400
20.5
0.195
Lal-21-2001
20
0.00420
27.5
0.153
2002-MEN-137
8
0.00220
15
0.147
2002-LAL-139
9
0.00175
15
0.117
2002-LAL-173
9
0.00175
15
0.117
2002-LAL-148
13
0.00165
15
0.110
2002-LAL-191
13
0.00155
15
0.103
All samples reported upon in this release, were collected under the direct auspices of an independent qualified person (“IQP”), James Burns P.Eng., of Timmins, Ontario. Samples were sealed and shipped to the Kennecott Canada Exploration Laboratory in Thunder Bay, Ontario, under chain of custody documentation. Management maintained very strict security on all samples, until they were delivered to the bonded transport company, that delivered the samples to the Laboratory. The samples were submitted for caustic dissolution for their respective microdiamond and macrodiamond content. Kennecott has recently reported the weights of the collected diamonds with respect to these programs.
Each of the 92 samples selected in the regional prospecting program were selected on the basis of geological textures, and as such are felt by management to be representative of the sampled outcrop area. Consequently the results are a reliable, (albeit small size of sample duly noted) representation of the diamond grade for each selected outcropping site. The diamond carat per tonne results are being utilized by the company as a guide to focus the exploration teams attention to a specific site or area.
The sample results reported herein, have now refocused the Wawa project exploration program, to the delineation of expanded areas of high diamond potential within the property limits. The convenient location of the project, more specifically the new exploration areas as defined by these sample results, provides for year round exploration access. Spider and KWG are now in the process of raising additional financing in order to complete further work on this exciting project that will include power-stripping, geological mapping, and sampling (some mini-bulk samples of up to 2.5 tonnes will be taken). This work will be completed around the LAL-156 (Magpie Mine road east showing), MEN-167 (Menzies 400 meters east showing), as well as the LAL 158 (Magpie Mine road west showing). Mini-bulk sampling has already taken place at the LAL 146 site (Sample BK-04 previously reported August 27, 2002), however this bulk sample is still undergoing analysis at Lakefield Research Laboratory where Spider and KWG have commissioned Lakefield to complete an “ore dressing/scoping study” that will address the diamond liberation issue for the Wawa type diamond bearing rocks.
In addition to the Wawa project, Spider and KWG are in a joint venture together in the Spider #1 and #3 area of northern Ontario where they have discovered 7 diamond bearing kimberlites, that are in various stages of exploration (Spider #1 area), as well as a new base metal enriched (Cu, Pb, Zn) metavolcanic belt (Spider #3 area).
For and on behalf of
DIAGEM International Resource Corp.
"David Cohen"
President
Sample number
ObsNoStones
Combined Weight of Diamonds (ct)
sample wt (kg.)
carat/tonne
2002-LAL-156
215
0.03925
15
2.617
2002-MEN-167
59
0.00865
15
0.577
2002-LAL-158
48
0.00855
15
0.570
2002-LAL-146
35
0.00790
15
0.527
2002-LAL-157
44
0.00650
15
0.433
2002-LAL-185
64
0.00640
15
0.427
2002-LAL-144
39
0.00460
15
0.307
Lal-12-2001
30
0.00755
27
0.280
Men-1-2001
28
0.01120
46.7
0.240
2002-LAL-153
19
0.00335
15
0.223
Lal-17-2001
12
0.00400
20.5
0.195
Lal-21-2001
20
0.00420
27.5
0.153
2002-MEN-137
8
0.00220
15
0.147
2002-LAL-139
9
0.00175
15
0.117
2002-LAL-173
9
0.00175
15
0.117
2002-LAL-148
13
0.00165
15
0.110
2002-LAL-191
13
0.00155
15
0.103
All samples reported upon in this release, were collected under the direct auspices of an independent qualified person (“IQP”), James Burns P.Eng., of Timmins, Ontario. Samples were sealed and shipped to the Kennecott Canada Exploration Laboratory in Thunder Bay, Ontario, under chain of custody documentation. Management maintained very strict security on all samples, until they were delivered to the bonded transport company, that delivered the samples to the Laboratory. The samples were submitted for caustic dissolution for their respective microdiamond and macrodiamond content. Kennecott has recently reported the weights of the collected diamonds with respect to these programs.
Each of the 92 samples selected in the regional prospecting program were selected on the basis of geological textures, and as such are felt by management to be representative of the sampled outcrop area. Consequently the results are a reliable, (albeit small size of sample duly noted) representation of the diamond grade for each selected outcropping site. The diamond carat per tonne results are being utilized by the company as a guide to focus the exploration teams attention to a specific site or area.
The sample results reported herein, have now refocused the Wawa project exploration program, to the delineation of expanded areas of high diamond potential within the property limits. The convenient location of the project, more specifically the new exploration areas as defined by these sample results, provides for year round exploration access. Spider and KWG are now in the process of raising additional financing in order to complete further work on this exciting project that will include power-stripping, geological mapping, and sampling (some mini-bulk samples of up to 2.5 tonnes will be taken). This work will be completed around the LAL-156 (Magpie Mine road east showing), MEN-167 (Menzies 400 meters east showing), as well as the LAL 158 (Magpie Mine road west showing). Mini-bulk sampling has already taken place at the LAL 146 site (Sample BK-04 previously reported August 27, 2002), however this bulk sample is still undergoing analysis at Lakefield Research Laboratory where Spider and KWG have commissioned Lakefield to complete an “ore dressing/scoping study” that will address the diamond liberation issue for the Wawa type diamond bearing rocks.
In addition to the Wawa project, Spider and KWG are in a joint venture together in the Spider #1 and #3 area of northern Ontario where they have discovered 7 diamond bearing kimberlites, that are in various stages of exploration (Spider #1 area), as well as a new base metal enriched (Cu, Pb, Zn) metavolcanic belt (Spider #3 area).
For and on behalf of
DIAGEM International Resource Corp.
"David Cohen"
President
