Post by Franko10 ™ on Sept 16, 2004 9:47:23 GMT -5
Gravel Resources
Exploration returns good diamond grades in two new areas including a seven carat diamond.
Mousseau Tremblay, President & CEO, DIAGEM International Resource Corp. is pleased to announce the results for the second week of commercial mining operations carried out under an 'experimental mining'permit on the Fazenda Chicoria Diamondiferous Gravel Resource Block No.1 in the Juina Diamond Province, State of Mato Grosso, Brazil.
The second week of mining and processing, from August 23 to August 31, 2003 inclusive, has yielded diamonds weighing 228 carats. The average grade of the diamondiferous gravels was 0.29 carats per/cu.m, fulfilling expectations for the week.
Diagem's on-going exploration for additional resource blocks has identified two new promising targets.
Resource Block No.3, approximately 900 m long, has returned a grade of 0.60 cpcm from the very first 28 cu.m. bulk sample. The incidence of larger diamonds is high, with four diamonds over one carat, weighing individually 7.07, 4.1, 1.46 and 1.25 carats. In total 12 diamonds with a weight of 16.7 carats were recovered. Resource Block No.3 is located on the south bank of the Sorriso River, approximately 2 kilometres down-stream from the west end of the Fazenda Chicoria Resource Block #1, both located on Property 213.
In addition, the first 19 cu.m. bulk sample on Resource Block No.4, has returned a grade of 0.78 cpcm. This block is located on the Juininha River, on Property 370, approximately 30 kilometres east from Property 213. Once again we are seeing, at 0.37 carats, a very respectable average diamond size.
The establishment of new production has progressed very satisfactorily despite some challenges of which the main one is the water supply which is always difficult during the driest months of the year; September and October. The pilot plant has already reached a through put of 17-19 cu.m/hour, under good tracer control, getting closer to its design capacity of 20-25 cu.m/hour.
The continuing discovery and development of additional resources, some with larger average stone size, is progressing very well, much better than was expected from the non-purely alluvial gravels.
Diagem is a diamond exploration company holding significant diamond interests in Brazil and Canada. In Brazil it owns 20 properties totaling 130,000 hectares, in addition to the Joint Venture Property 1000, containing extensive diamondiferous gravels and 8 kimberlite pipes, located within the Juina Diamond Province, historically Brazil's largest diamond producing area. In Canada, through its interest in KWG Resources Inc. (TSXV: KWG), Diagem has an indirect interest in diamond exploration projects in the James Bay Lowlands and Wawa areas, in addition to the McFauld's Lake massive sulphide discovery, in Ontario.
The technical content of this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President and CEO and director of Diagem International Resource Corp.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President
Exploration returns good diamond grades in two new areas including a seven carat diamond.
Mousseau Tremblay, President & CEO, DIAGEM International Resource Corp. is pleased to announce the results for the second week of commercial mining operations carried out under an 'experimental mining'permit on the Fazenda Chicoria Diamondiferous Gravel Resource Block No.1 in the Juina Diamond Province, State of Mato Grosso, Brazil.
The second week of mining and processing, from August 23 to August 31, 2003 inclusive, has yielded diamonds weighing 228 carats. The average grade of the diamondiferous gravels was 0.29 carats per/cu.m, fulfilling expectations for the week.
Diagem's on-going exploration for additional resource blocks has identified two new promising targets.
Resource Block No.3, approximately 900 m long, has returned a grade of 0.60 cpcm from the very first 28 cu.m. bulk sample. The incidence of larger diamonds is high, with four diamonds over one carat, weighing individually 7.07, 4.1, 1.46 and 1.25 carats. In total 12 diamonds with a weight of 16.7 carats were recovered. Resource Block No.3 is located on the south bank of the Sorriso River, approximately 2 kilometres down-stream from the west end of the Fazenda Chicoria Resource Block #1, both located on Property 213.
In addition, the first 19 cu.m. bulk sample on Resource Block No.4, has returned a grade of 0.78 cpcm. This block is located on the Juininha River, on Property 370, approximately 30 kilometres east from Property 213. Once again we are seeing, at 0.37 carats, a very respectable average diamond size.
The establishment of new production has progressed very satisfactorily despite some challenges of which the main one is the water supply which is always difficult during the driest months of the year; September and October. The pilot plant has already reached a through put of 17-19 cu.m/hour, under good tracer control, getting closer to its design capacity of 20-25 cu.m/hour.
The continuing discovery and development of additional resources, some with larger average stone size, is progressing very well, much better than was expected from the non-purely alluvial gravels.
Diagem is a diamond exploration company holding significant diamond interests in Brazil and Canada. In Brazil it owns 20 properties totaling 130,000 hectares, in addition to the Joint Venture Property 1000, containing extensive diamondiferous gravels and 8 kimberlite pipes, located within the Juina Diamond Province, historically Brazil's largest diamond producing area. In Canada, through its interest in KWG Resources Inc. (TSXV: KWG), Diagem has an indirect interest in diamond exploration projects in the James Bay Lowlands and Wawa areas, in addition to the McFauld's Lake massive sulphide discovery, in Ontario.
The technical content of this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President and CEO and director of Diagem International Resource Corp.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President