Post by Franko10 ™ on Sept 16, 2004 10:48:59 GMT -5
Diagem International Resource Corp. has entered into an innovative, three-way, Land Access Agreement (the 'Agreement'), with Mr. Americo (the 'Landowner'), owner of certain surface rights, and Mineradora Eco Ltda ('Eco'), a local diamond exploration and mining company. The subject of this Agreement is a farm located within prospective target areas on Property 120, located at the southeastern portion of the Juina Diamond Province, Brazil.
Pursuant to the Agreement, Eco will work with Diagem as part of the exploration team on this farm. The exploration program will be managed by Diagem with Eco contributing the use of personnel and equipment, including a truck mounted large diameter auger drill. By virtue of its long standing relationship with the Landowner, Eco has been successful in securing access to this farm. The Landowner will receive a small percentage of the value of diamonds recovered during the exploration program.
In recent weeks Company personnel have visited certain garimpeiro digging sites contiguous to that of the above farm and received reports concerning these sites to the effect that very high diamond grades have been obtained in the gravels and that at least two diamonds weighing over 50 carats each have been extracted from these sites.
The Company's exploration team has started work on Property 120.
Property 120, comprising approximately 10,000 hectares, contains one of 14 priority target areas previously identified by the Company (see news release of February 24, 2004). Land access agreements are an important part of the on-going program to explore the Company's vast mineral holdings in this region on a broad front.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President
Pursuant to the Agreement, Eco will work with Diagem as part of the exploration team on this farm. The exploration program will be managed by Diagem with Eco contributing the use of personnel and equipment, including a truck mounted large diameter auger drill. By virtue of its long standing relationship with the Landowner, Eco has been successful in securing access to this farm. The Landowner will receive a small percentage of the value of diamonds recovered during the exploration program.
In recent weeks Company personnel have visited certain garimpeiro digging sites contiguous to that of the above farm and received reports concerning these sites to the effect that very high diamond grades have been obtained in the gravels and that at least two diamonds weighing over 50 carats each have been extracted from these sites.
The Company's exploration team has started work on Property 120.
Property 120, comprising approximately 10,000 hectares, contains one of 14 priority target areas previously identified by the Company (see news release of February 24, 2004). Land access agreements are an important part of the on-going program to explore the Company's vast mineral holdings in this region on a broad front.
For and on behalf of
DIAGEM International Resource Corp.
"Dr. Mousseau Tremblay"
President