Post by Franko10 ™ on Sept 16, 2004 9:43:02 GMT -5
Diagem, a company with diamond interests in Brazil and Canada, reports that exploratory drilling on Property 370 in the Juina Diamond Province, Brazil, has intersected a further kimberlite body at a depth of 7 metres. This brings the number of kimberlite bodies identified on Diagem properties to 8, of which 7 have proven to be diamondiferous.
The kimberlite is located at the western end of extensive old garimpeiro river workings, suggesting this could be a source for the diamonds historically mined there. It is located under a dense forest and the necessary steps are being taken to provide physical access for bulk sampling. The drilling was performed by highly mobile, small diameter core 'pyonjar'drill.
This area lays approximately 40 kilometers south east of the Accori cluster of diamondiferous kimberlite pipes (Properties 213 and 214). Bulk sampling of diamondiferous gravels on Property 213 is well advanced. Further samples, now utilizing the recently commissioned x-ray sorting machine, are presently being processed to increase the confidence levels in the grades returned to date.
Commissioning of the X-ray diamond selecting facility ('Sortex') has been completed. Testing indicates that grades are likely to increase by approximately 20% as a result of using this facility. Use of the Sortex increases efficiency, significantly improves security, and provides a greatly increased level of confidence in the accuracy of results.
The work on Property 213, and now Property 370, demonstrate how exploration of diamond bearing gravels and kimberlite can go hand-in-hand. By effectively using the alluvial diamonds as a 'road map', the diamonds themselves become the indicator minerals as to the possible location of the source. This relationship between gravels and kimberlite is of particular interest in Juina, owing to the limited transportation experienced by the diamonds. The existence of the vast alluvial diamond field, coupled with the limited transportation, strongly suggest that the source, or as we suspect sources, lie within or very close to the alluvial field.
The work on Property 370 is the first step in widening the exploration net to encompass all of the company's 20 properties to add further priority gravels areas and kimberlite targets for evaluation by bulk sampling.
The technical information in this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President and a director of Diagem International Resource Corp.
The Company has granted options, to employees and consultants, to purchase 100,000 and 30,000 common shares for periods of two and five years respectively at a price of $0.20.
Diagem is a diamond exploration company holding significant diamond interests in Brazil and Canada. In Brazil it owns 20 properties totaling 130,000 hectares, with 8 kimberlites, mostly diamondiferous, located within the Juina Diamond Province, historically Brazil's largest diamond producing area. In Canada through its 33% interest in KWG Resources Inc. (TSXV: KWG), Diagem has an indirect interest in diamond exploration projects in the James Bay Lowlands and Wawa areas, as well as the McFauld's Lake massive sulphide discovery in Ontario.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President
The kimberlite is located at the western end of extensive old garimpeiro river workings, suggesting this could be a source for the diamonds historically mined there. It is located under a dense forest and the necessary steps are being taken to provide physical access for bulk sampling. The drilling was performed by highly mobile, small diameter core 'pyonjar'drill.
This area lays approximately 40 kilometers south east of the Accori cluster of diamondiferous kimberlite pipes (Properties 213 and 214). Bulk sampling of diamondiferous gravels on Property 213 is well advanced. Further samples, now utilizing the recently commissioned x-ray sorting machine, are presently being processed to increase the confidence levels in the grades returned to date.
Commissioning of the X-ray diamond selecting facility ('Sortex') has been completed. Testing indicates that grades are likely to increase by approximately 20% as a result of using this facility. Use of the Sortex increases efficiency, significantly improves security, and provides a greatly increased level of confidence in the accuracy of results.
The work on Property 213, and now Property 370, demonstrate how exploration of diamond bearing gravels and kimberlite can go hand-in-hand. By effectively using the alluvial diamonds as a 'road map', the diamonds themselves become the indicator minerals as to the possible location of the source. This relationship between gravels and kimberlite is of particular interest in Juina, owing to the limited transportation experienced by the diamonds. The existence of the vast alluvial diamond field, coupled with the limited transportation, strongly suggest that the source, or as we suspect sources, lie within or very close to the alluvial field.
The work on Property 370 is the first step in widening the exploration net to encompass all of the company's 20 properties to add further priority gravels areas and kimberlite targets for evaluation by bulk sampling.
The technical information in this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President and a director of Diagem International Resource Corp.
The Company has granted options, to employees and consultants, to purchase 100,000 and 30,000 common shares for periods of two and five years respectively at a price of $0.20.
Diagem is a diamond exploration company holding significant diamond interests in Brazil and Canada. In Brazil it owns 20 properties totaling 130,000 hectares, with 8 kimberlites, mostly diamondiferous, located within the Juina Diamond Province, historically Brazil's largest diamond producing area. In Canada through its 33% interest in KWG Resources Inc. (TSXV: KWG), Diagem has an indirect interest in diamond exploration projects in the James Bay Lowlands and Wawa areas, as well as the McFauld's Lake massive sulphide discovery in Ontario.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President