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Post by Franko10 ™ on Nov 23, 2005 12:10:45 GMT -5
Diagem Commences Evaluation of Property 214's Collier-04 Kimberlite Pipe and Reports the Discovery of Another Kimberlite Occurrence (ccnm)
MONTREAL, QUEBEC--(CCNMatthews - Nov. 23, 2005) - Diagem Inc. ("Diagem" or "the Company") (TSX VENTURE:DGM) is pleased to announce that the evaluation of the Collier-04 kimberlite pipe and its overlying gravels has commenced. Prior to bulk sampling, a systematic trado auger drill program was undertaken to delineate and characterize the gravel deposits that overlie and are adjacent to the kimberlite body. Over 280 auger holes were drilled on a 50 by 50 metre grid. Samples from each hole have been collected and processed manually to determine the degree of concentration of heavy kimberlite indicator minerals, with ilmenite, pyrope and garnet in particular.
The bulk testing of the in-situ gravels will entail processing approximately 45 pit samples of 30 cubic metres each over an area in excess of 17 hectares. The gravel bulk testing work has started and is progressing well with the hand processing of split fractions from the first 12 samples yielding 138 diamonds totalling 17.87 carats. The two largest stones weighed 3.16 and 0.49 carats, respectively. There is as yet insufficient information to determine the diamond size distribution and calculate the average grade of the bulk tests to 43-101 standards. Diagem is constructing a new Sortex facility in which the remaining concentrate samples will be sorted electronically.
A gravel test plant was recently assembled at the Collier-04 site along with the necessary supporting infrastructure to facilitate the bulk testing program. The addition of a small crusher and attrition mill to the gravel test plant will facilitate the processing of kimberlite which is scheduled for early 2006.
Diagem also wishes to report the discovery of a new kimberlite pipe approximately one kilometre from Collier-04 on Property 122, which adjoins Property 214 to the north. The new pipe was intersected by sonic drilling over a kimberlite heavy mineral indicator anomaly identified by a soil sampling exercise which was carried out as part of the Company's broad front exploration program.
Funds obtained from the Company's recently announced rights offering (see October 26, 2005 Press release) will be used, in part, for the evaluation of the Collier-04 pipe. Complete documentation of this rights offering can be viewed at sedar.com or on the Company's website www.diagem.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem Inc.
Paul Einarson
Chief Financial Officer
(514) 866-6001
(514) 866-6193 (FAX)
or
Diagem Inc.
Claude Durocher
Chief Executive Officer.
(416) 368-3601
www.diagem.com
The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this press release
MONTREAL, QUEBEC--(CCNMatthews - Nov. 23, 2005) - Diagem Inc. ("Diagem" or "the Company") (TSX VENTURE:DGM) is pleased to announce that the evaluation of the Collier-04 kimberlite pipe and its overlying gravels has commenced. Prior to bulk sampling, a systematic trado auger drill program was undertaken to delineate and characterize the gravel deposits that overlie and are adjacent to the kimberlite body. Over 280 auger holes were drilled on a 50 by 50 metre grid. Samples from each hole have been collected and processed manually to determine the degree of concentration of heavy kimberlite indicator minerals, with ilmenite, pyrope and garnet in particular.
The bulk testing of the in-situ gravels will entail processing approximately 45 pit samples of 30 cubic metres each over an area in excess of 17 hectares. The gravel bulk testing work has started and is progressing well with the hand processing of split fractions from the first 12 samples yielding 138 diamonds totalling 17.87 carats. The two largest stones weighed 3.16 and 0.49 carats, respectively. There is as yet insufficient information to determine the diamond size distribution and calculate the average grade of the bulk tests to 43-101 standards. Diagem is constructing a new Sortex facility in which the remaining concentrate samples will be sorted electronically.
A gravel test plant was recently assembled at the Collier-04 site along with the necessary supporting infrastructure to facilitate the bulk testing program. The addition of a small crusher and attrition mill to the gravel test plant will facilitate the processing of kimberlite which is scheduled for early 2006.
Diagem also wishes to report the discovery of a new kimberlite pipe approximately one kilometre from Collier-04 on Property 122, which adjoins Property 214 to the north. The new pipe was intersected by sonic drilling over a kimberlite heavy mineral indicator anomaly identified by a soil sampling exercise which was carried out as part of the Company's broad front exploration program.
Funds obtained from the Company's recently announced rights offering (see October 26, 2005 Press release) will be used, in part, for the evaluation of the Collier-04 pipe. Complete documentation of this rights offering can be viewed at sedar.com or on the Company's website www.diagem.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem Inc.
Paul Einarson
Chief Financial Officer
(514) 866-6001
(514) 866-6193 (FAX)
or
Diagem Inc.
Claude Durocher
Chief Executive Officer.
(416) 368-3601
www.diagem.com
The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this press release
