Post by Franko10 ™ on Sept 16, 2004 9:44:04 GMT -5
Mining and production phase impending as the exploration of resource block No. 1 draws to an end.
Diagem International Resource Corp. (the 'Company'or 'Diagem') is pleased to announce that the exploration of Resource Block No. 1 of Property 213 ('Property 213'), located in Fazenda Chicoria on the south side of the Soriso River in the Juina Mining Diamond Area in the Mato Grosso state of Brazil, is now in the final stage of completion. Separately, bulk sampling on Resource Block No. 2 has yielded very encouraging results, with initial grades of 0.97 carats per cubic meters.
The diamondiferous gravels within Property 213 are now being readied for extraction and processing. The pilot plant is currently being reassembled on site and a dam and other infrastructures are being built to receive tailings, provide for water, etc. A second smaller, portable plant has been built and is at work processing the last of the Block No. 1 bulk samples. As soon as the pilot plant is ready, both the pilot plant and the smaller plant will begin processing the diamondiferous gravel resources of which approximately 165,000 cubic meters, grading 0.3ct/cu.m have been outlined, to date. It is expected that the first diamonds from Block No. 1 will be produced during the second week of August, with a relatively significant production level anticipated by the end of August.
While preparations for production are actively pursued on Block No. 1, the large portable plant has commenced sampling operations on the north bank of the Duas Barras River. The site is 5 km to the north west of Block No. 1 and 10 km downstream from the Collier 04 kimberlite pipe on Property 214. The pipe is believed to have some interesting economic possibilities, based upon results previously reported by Rio Tinto. The first Duas Barras bulk sample taken by the Company, ABT 1/211, has yielded the highest grade (0.97 ct/cu.m) seen since the commencement of the Company's current systematic bulk sampling program, in February 2003. It is believed that further bulk sampling upstream of ABT 1/211 will yield larger and more abundant stones because of its greater proximity to the kimberlite pipe source - Collier 04.
The Sortex Xray machine is now operating effectively and is responsible for the improved recovery achieved for samples ABT 26, 30 and 31, all in Property 213, as noted in Table 1, below.
Resource Block No. 3 of Property 213 has recently been delineated for gravels and to measure the relative abundance of ilmenite. A good abundance of heavy minerals could indicate that bulk samples will yield commensurate diamond content. Block No. 3 is located approximately two kilometers to the north west of Resource Block No. 1, along the Soriso River. If this block proves economic it could be defined and expanded as a western extension of Resource Block No. 1. The block represents only 40 hectares of Diagem's 130,000 hectares in the Juina Diamond Province in Brazil.
The exploration and evaluation of the Property 213 Resource Blocks is progressing rapidly. Management is very pleased with the impending start up of economic, commercial diamond production from Block No. 1. With the potential for the eventual discovery of diamondiferous kimberlites and the endeavor to find new ones, the Company will continue on with it's program of systematic evaluation.
The Company's bulk sampling activities are planned and carried out under the supervision of Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President and CEO also a director of Diagem International Resource Corp, who has also approved the technical content of this news release. Others contributing to the evaluation process include Mr. Jonathon Taylor, Qualified Mining Engineer (UK), Mr. Jose Aldo Ferraz, Qualified Mining Engineer (Brazil) and Paulo Andreazza, Member of the Institute of Geologists (Brazil).
Diagem, directly and indirectly (through KWG Resources), controls 21 diamondiferous pipes in Brazil and Canada (James Bay, Wawa and massive sulphides discovered in the James Bay Lowlands in N. Ontario) and, in the near term, expects diamond cash flow from the Juina Diamond Province in Brazil.
Sample #
Material
processed, m3
No. of Diamonds
Total
Weight (cts.)
Grade (ct/m3)
Chicoria Creek Area, Property 213
ABT 26/213
6
20
2.52
0.42
ABT 28/213
62
21
12.83
0.21
ABT 29/213
36
2
0.52
0.01
ABT 30/213
28
39
9.83
0.35
ABT 31/213
25
73
21.03
0.84
Duas Barras Area, Property 211
ABT 1/211
33
404
32.11
0.97
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President
Diagem International Resource Corp. (the 'Company'or 'Diagem') is pleased to announce that the exploration of Resource Block No. 1 of Property 213 ('Property 213'), located in Fazenda Chicoria on the south side of the Soriso River in the Juina Mining Diamond Area in the Mato Grosso state of Brazil, is now in the final stage of completion. Separately, bulk sampling on Resource Block No. 2 has yielded very encouraging results, with initial grades of 0.97 carats per cubic meters.
The diamondiferous gravels within Property 213 are now being readied for extraction and processing. The pilot plant is currently being reassembled on site and a dam and other infrastructures are being built to receive tailings, provide for water, etc. A second smaller, portable plant has been built and is at work processing the last of the Block No. 1 bulk samples. As soon as the pilot plant is ready, both the pilot plant and the smaller plant will begin processing the diamondiferous gravel resources of which approximately 165,000 cubic meters, grading 0.3ct/cu.m have been outlined, to date. It is expected that the first diamonds from Block No. 1 will be produced during the second week of August, with a relatively significant production level anticipated by the end of August.
While preparations for production are actively pursued on Block No. 1, the large portable plant has commenced sampling operations on the north bank of the Duas Barras River. The site is 5 km to the north west of Block No. 1 and 10 km downstream from the Collier 04 kimberlite pipe on Property 214. The pipe is believed to have some interesting economic possibilities, based upon results previously reported by Rio Tinto. The first Duas Barras bulk sample taken by the Company, ABT 1/211, has yielded the highest grade (0.97 ct/cu.m) seen since the commencement of the Company's current systematic bulk sampling program, in February 2003. It is believed that further bulk sampling upstream of ABT 1/211 will yield larger and more abundant stones because of its greater proximity to the kimberlite pipe source - Collier 04.
The Sortex Xray machine is now operating effectively and is responsible for the improved recovery achieved for samples ABT 26, 30 and 31, all in Property 213, as noted in Table 1, below.
Resource Block No. 3 of Property 213 has recently been delineated for gravels and to measure the relative abundance of ilmenite. A good abundance of heavy minerals could indicate that bulk samples will yield commensurate diamond content. Block No. 3 is located approximately two kilometers to the north west of Resource Block No. 1, along the Soriso River. If this block proves economic it could be defined and expanded as a western extension of Resource Block No. 1. The block represents only 40 hectares of Diagem's 130,000 hectares in the Juina Diamond Province in Brazil.
The exploration and evaluation of the Property 213 Resource Blocks is progressing rapidly. Management is very pleased with the impending start up of economic, commercial diamond production from Block No. 1. With the potential for the eventual discovery of diamondiferous kimberlites and the endeavor to find new ones, the Company will continue on with it's program of systematic evaluation.
The Company's bulk sampling activities are planned and carried out under the supervision of Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President and CEO also a director of Diagem International Resource Corp, who has also approved the technical content of this news release. Others contributing to the evaluation process include Mr. Jonathon Taylor, Qualified Mining Engineer (UK), Mr. Jose Aldo Ferraz, Qualified Mining Engineer (Brazil) and Paulo Andreazza, Member of the Institute of Geologists (Brazil).
Diagem, directly and indirectly (through KWG Resources), controls 21 diamondiferous pipes in Brazil and Canada (James Bay, Wawa and massive sulphides discovered in the James Bay Lowlands in N. Ontario) and, in the near term, expects diamond cash flow from the Juina Diamond Province in Brazil.
Sample #
Material
processed, m3
No. of Diamonds
Total
Weight (cts.)
Grade (ct/m3)
Chicoria Creek Area, Property 213
ABT 26/213
6
20
2.52
0.42
ABT 28/213
62
21
12.83
0.21
ABT 29/213
36
2
0.52
0.01
ABT 30/213
28
39
9.83
0.35
ABT 31/213
25
73
21.03
0.84
Duas Barras Area, Property 211
ABT 1/211
33
404
32.11
0.97
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President