Post by Franko10 ™ on Sept 16, 2004 10:28:00 GMT -5
DIAGEM is pleased to announce the results for week nine 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.
820 diamonds were recovered for a total of 264.44 carats, including 43 diamonds between 1 and 5 carats and 3 diamonds between 5 and 10 carats (5.46, 5.10 and 5.09 carats). The average diamond size increased to 0.32 carats. 850 cubic metres of material were processed during the week providing a grade of 0.31 (week 8: 0.26) carats per cubic metre.
The first half of week nine was spent rectifying the technical difficulties that were encountered in the previous week. Following this, daily production returned to higher levels, culminating with the operation achieving its first 100-carat day.
The technical content of this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person, President, CEO and Director of Diagem International Resource Corp.
The company has granted options, to employees and consultants, to purchase 225,000 and 75,000 common shares for periods of five and one years respectively at a price of a $0.33.
Diagem is a diamond exploration company holding significant diamond interests in Brazil and Canada. In Brazil it owns 20 properties totalling 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. For and on behalf of DIAGEM International Resource Corp.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President