Owner
Post by Franko10 ™ on Sept 16, 2004 9:32:30 GMT -5
Kimberlite Testing
Diagem International Resource Corp. provides the following update on its diamond projects in the Juina Diamond Province, Mato Grosso State, Brazil.
A further 1,121 diamonds weighing 308 carats have been recovered during bulk testing on the 'Donna Maria'area on property 213, since the last update on December 2, 2002 (see the table below). This brings the total, for this area currently being tested, to over 2,000 diamonds weighing more than 560 carats. Field crews have begun work this week to prepare to sample gravels directly adjacent to the Accori Cluster of five kimberlite pipes. This will expose the first diamondiferous kimberlite pipe in this cluster, which will be tested in due course. This area is less than 5 kilometres upstream from where Diagem's is currently recovering diamonds, and is thought to be the source of the diamonds in this river system.
The pilot plant has achieved its targeted operating capacity of 25 cu.m. per hour and the actual direct costs of operation are meeting expectations.
Diagem has recently received ratification from the Brazilian regulatory authorities of its right of access to the area ('Chicoria Creek') that hosts the largest of the known diamondiferous kimberlite pipes in the Accori Cluster of pipes. Given this, field crews are already on site conducting preliminary work prior to bulk sampling of the alluvial and coluvial gravels that are next to and on top of this kimberlite pipe. Hence, in the coming weeks, Diagem will be concentrating its resources testing these deposits in this priority area.
The work program will consist of shallow, sonic and auger drilling to identify the kimberlite pipe and its coluvial cover in detail, with a back hoe excavator being used to delineate the adjacent alluvial gravels. Bulk samples will then be taken from each type of deposit and processed using the moveable plant which can be on site when required.
The detailed results for the bulk testing on the Donna Maria area are as follows:
Moveable plant Test #
Diamonds
Carats
Estimated gravel
processed
ABT - 4/213a
256
82.75
87
ABT - 5/213a
50
11.00
107
ABT - 6/213a
41
5.28
**
ABT - 7/213
25
4.80
**
Pilot plant Test #
Diamonds
Carats
Estimated gravel
processed*
PP-t1/213
257
76.90
188
PP-t2/213
105
31.00
**
PP-1/213a
50
11.55
**
PP-1/213b
31
9.31
**
PP-02/213
306
75.41
***
* Estimated gravels processed may change once 'in-situ'
measurement of the gravel layer has been completed.
** Not yet available
*** Recovered from processing garimpeiro tailings
The testing has concentrated on or adjacent to the extensive 'slope deposit'reported in the December 2, 2002 news release.
The technical information in this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, and a director of Diagem International Resource Corp.
Corporate Matters
Subject to regulatory approval, the Company has granted 500,000 options to purchase common shares to an investor relations consultant for a two year period, vesting over twelve months with an exercise price of $0.20.
For and on behalf of
DIAGEM International Resource Corp.
"David Cohen"
President
