Owner
Post by Franko10 ™ on Sept 22, 2004 13:19:04 GMT -5
The 'Broad Front' Diamondiferous Kimberlite and Gravel Exploration Program Continues to Move Forward at Increased Speed
14:10 EDT Wednesday, September 22, 2004
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 22, 2004) - The Company provides the following update on its Broad Front regional exploration program in the Juina Diamondiferous Kimberlite and Gravel Province, Mato Grosso State, Brazil. The regional program encompasses all of the Company's 130,000 hectare property holdings which lie along a 70 kilometre belt from west to east and a width of 20 kilometres north to south.
Land access - Since the press release of September 8, 2004 announcing the breakthrough in gaining land access for the purposes of conducting exploration and evaluation of diamondiferous kimberlite and gravel deposits, 8 more landowners have signed new agreements providing the Company with unprecedented access.
As a result the Company is now simultaneously active on several farms within a number of Properties, including properties 118, 370/96 and 119. Its prospecting force is now made up of three teams instead of the original one.
On Property 118, located in the centre of the of the Company's property holdings, gravel delineation drilling is identifying well characterized gravels. A first suitable site for bulk sampling on Property 118 has been identified and testing will be conducted shortly. The gravel is fairly deep but the heavy mineral content is high, making it a target of interest. The physical access to the target area was difficult, requiring it to be opened with a bulldozer.
On Property 370 preparation has been made to access the SL-01 kimberlite pipe. Little is known about this pipe. The pipe sits on a small creek which adjoins the Juinninha River, an area with extensive historical garimpeiro activities. As a result of recent mapping of the area, the Company believes that an opportunity for a large diamond production from this area is still possible.
In a separate location within Property 370/96, the Company is set to continue its bulk sampling program on the Zilza farm. Here, a well characterized gravel deposit of 750,000 cu.m. has been identified with two exploratory bulk samples grading at 0.27 and 0.55 carats per cu.m. with a very good average stone size of 0.78 carats (previously reported). A representative from FEMA the State Environmental Agency has inspected the proposed area of work and clearance to commence bulk sampling is expected shortly.
On Property 119 a team is also preparing to test the gravel cover of the ARP-03 group of three kimberlite pipes. Again little is known about these pipes. The relationship between the ARP-03 group and the diamond deposits mined historically by garimpeiros and DeBeers in the late 1970's/early 1980's, approximately 6 kilometres to the North, is not immediately apparent. Unlike other parts of the Province, there is a lack of any significant modern day drainages for gravel washing, which is likely to have precluded the area from exploitation by garimpeiros in the past. A simple test of the gravel on top of the pipe will provide a very preliminary evaluation of the nature of any possible diamond content in the pipe.
The Juina Diamond Province is known to contain 28 kimberlite pipes, nearly all of which are diamondiferous. Extensive diamondiferous gravel deposits are present throughout the Province. Diagem's property holding, at approximately 130,000 hectares, is the largest in the region and includes 16 of the known kimberlite pipes (two discovered by Diagem) and nearly all of the zone where the most active historical diamond activity has occurred.
For and on behalf of Diagem International Resource Corp.
Mousseau Tremblay, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem International Resource Corp.
Mousseau Tremblay
President & CEO
(604) 688-GEMS (4367)
(604) 687-3912 (FAX)
or
Diagem International Resource Corp.
Tony Wood
COO & CFO
(604) 688-GEMS (4367)
(604) 687-3912 (FAX)
Email: investors@diagem.com
Website: www.diagem.com
The TSX Venture Exchange has neither approved nor disapproved the form or content of this release
14:10 EDT Wednesday, September 22, 2004
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 22, 2004) - The Company provides the following update on its Broad Front regional exploration program in the Juina Diamondiferous Kimberlite and Gravel Province, Mato Grosso State, Brazil. The regional program encompasses all of the Company's 130,000 hectare property holdings which lie along a 70 kilometre belt from west to east and a width of 20 kilometres north to south.
Land access - Since the press release of September 8, 2004 announcing the breakthrough in gaining land access for the purposes of conducting exploration and evaluation of diamondiferous kimberlite and gravel deposits, 8 more landowners have signed new agreements providing the Company with unprecedented access.
As a result the Company is now simultaneously active on several farms within a number of Properties, including properties 118, 370/96 and 119. Its prospecting force is now made up of three teams instead of the original one.
On Property 118, located in the centre of the of the Company's property holdings, gravel delineation drilling is identifying well characterized gravels. A first suitable site for bulk sampling on Property 118 has been identified and testing will be conducted shortly. The gravel is fairly deep but the heavy mineral content is high, making it a target of interest. The physical access to the target area was difficult, requiring it to be opened with a bulldozer.
On Property 370 preparation has been made to access the SL-01 kimberlite pipe. Little is known about this pipe. The pipe sits on a small creek which adjoins the Juinninha River, an area with extensive historical garimpeiro activities. As a result of recent mapping of the area, the Company believes that an opportunity for a large diamond production from this area is still possible.
In a separate location within Property 370/96, the Company is set to continue its bulk sampling program on the Zilza farm. Here, a well characterized gravel deposit of 750,000 cu.m. has been identified with two exploratory bulk samples grading at 0.27 and 0.55 carats per cu.m. with a very good average stone size of 0.78 carats (previously reported). A representative from FEMA the State Environmental Agency has inspected the proposed area of work and clearance to commence bulk sampling is expected shortly.
On Property 119 a team is also preparing to test the gravel cover of the ARP-03 group of three kimberlite pipes. Again little is known about these pipes. The relationship between the ARP-03 group and the diamond deposits mined historically by garimpeiros and DeBeers in the late 1970's/early 1980's, approximately 6 kilometres to the North, is not immediately apparent. Unlike other parts of the Province, there is a lack of any significant modern day drainages for gravel washing, which is likely to have precluded the area from exploitation by garimpeiros in the past. A simple test of the gravel on top of the pipe will provide a very preliminary evaluation of the nature of any possible diamond content in the pipe.
The Juina Diamond Province is known to contain 28 kimberlite pipes, nearly all of which are diamondiferous. Extensive diamondiferous gravel deposits are present throughout the Province. Diagem's property holding, at approximately 130,000 hectares, is the largest in the region and includes 16 of the known kimberlite pipes (two discovered by Diagem) and nearly all of the zone where the most active historical diamond activity has occurred.
For and on behalf of Diagem International Resource Corp.
Mousseau Tremblay, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem International Resource Corp.
Mousseau Tremblay
President & CEO
(604) 688-GEMS (4367)
(604) 687-3912 (FAX)
or
Diagem International Resource Corp.
Tony Wood
COO & CFO
(604) 688-GEMS (4367)
(604) 687-3912 (FAX)
Email: investors@diagem.com
Website: www.diagem.com
The TSX Venture Exchange has neither approved nor disapproved the form or content of this release
