Post by Zoinkers on Nov 6, 2006 14:49:30 GMT -5
Press Release Source: Diagem Inc.
Diagem Releases near Surface Diamond Grades of the Collier-04 Kimberlite Pipe Proper and Grades of the Soils Overlying the Kimberlite and the Eluvial Gravels
Thursday September 21, 2:50 pm ET
MONTREAL, QUEBEC--(CCNMatthews - Sept. 21, 2006) - Diagem Inc. ("Diagem" or "the Company") (TSX VENTURE:DGM - News) is pleased to report additional diamond grades of kimberlite bulk samples at its 17 hectare Collier-04 kimberlite pipe located in the Juina diamond district of Mato Grosso, Brazil. A total of 3,517 cubic meters (m3) of saprolitic (oxidized) kimberlite material extracted from 29 samples in 19 trenches were processed through the Company's X-Ray Sorting facility. A total of 8,599 diamonds coarser than 1.7mm were recovered weighing a total 1,032 carats at an average in-situ grade of 0.30 carats per cubic metre (ct/m3).
With these results from the kimberlite bulk sampling, a comparison can be made with earlier results by Rio Tinto Desenvolvimentos Minerais Ltda (Rio Tinto). As seen in Table 1, Diagem's average grade results of 0.30 ct/m3, obtained for diamonds coarser than 1.7 mm, are twice as high as Rio Tinto results of 0.16 ct/m3. Surprisingly, this is not reflected in the average size of stones recovered which is similar at 0.12 carats. Detailed results by size fraction of the diamonds recovered in this phase of the bulk sampling program are illustrated in Figure 1. Diamonds less than 1.7mm were inadvertently recovered above the 1.7mm bottom screen and do not represent the through population of the lower size fractions. The fines from a representative sample will be processed to obtain a complete size distribution. However, taking into consideration the diamonds smaller than 1.7mm inadvertently recovered, the grade increases to 0.47 ct/m3 metre from a total of 28,598 diamonds weighing 1,605 carats.
Table 1: Comparison of Diagem and Rio Tinto kimberlite results from
Collier-04 (1) is available at the following address:http://www.ccnmatthews.com/docs/Collier.pdf(1) The parameters and limitations to the exercise presented in the
table are: - The historical grade of 0.40 ct/tonne in kimberlite obtained by
Rio Tinto taking into consideration stones above 1.0 mm. At a
cut-off of 1.7 mm, the grade decreases to 0.21 ct/tonne; - In addition, the grade expressed in tonnes was calculated based
on the weight of dry samples. Our samples are wet, not dried.
Calculation of Rio Tinto grade using wet material produces a
lower grade. - To simplify the conversion of the grade calculation from tonnes
to cubic metres, a specific gravity of 2 grams/cm3 is assumed for
both kimberlite and gravel material. Rio Tinto was actually using
a specific gravity of 1.87 grams/cm3 for weathered kimberlite
which for the purpose of the exercise would result in a lower
grade expressed in cubic metre. - The material collected by Diagem is more voluminous but consists
of near surface deeply weathered saprolitic kimberlite in
trenches at the periphery of the kimberlite. Rio Tinto's sampling
consisted of saprolite, saprock and hard rock kimberlite in core
drilling and reverse circulation drilling at regular intervals
over the entire kimberlite and from occasional surface trenches.
Structural Block 3, located in the southeast portion of the pipe, returned the best results with an average grade of 0.417 ct/m3 using a 1.7 mm bottom sieve (0.645 ct/m3, uncut) (see Figure 2). The average grade is significantly impacted by one sample which returned a grade of 1.060 ct/m3 from 1,138 diamonds weighted at 133.89 carats (+1.7 mm). The average grade from Block 1 (northeast portion of the kimberlite) and Block 4 (southwest portion) show average grades of 0.297 ct/m3 and 0.200 ct/m3, respectively. Grade results overall are consistent with the median (0.275 ct/m3) close to the average (0.30 ct/m3). Only five samples have grades below 0.10 ct/m3. The kimberlite on Blocks 2 and 5, central to the body, could not be tested due to a sand cover indicated to be up to 30 metres thick based on the previous Rio Tinto drilling. This suggests down faulting of the central block.
As shown in Table 2, grades obtained from kimberlite are lower than grades in the overlying eluvial gravels. Eluvial grades, the subject of the August 11, 2006 press release are presented in map form in Figure 4 for correlation purposes.
Bulk sampling of soil material overlying the kimberlite body and the eluvial gravels was also conducted. A total of 18 samples for an aggregate volume of 1,210 m3 have been collected. The soil results presented in Table 2 and in Figure 3 suggest that diamond grades in the soil cover overlying the gravel layer would justify processing the soil cover with gravel material at the mining stage without a significant dilution of the mining grade. The mining grade remains to be calculated.
Table 2: Comparison of diamonds grades for the soils, eluvial gravels and the underlying near surface saprolitic kimberlite .
-------------------------------------------------------------
Diamonds
greater or equal 1.7 mm
-------------------------------------------------------------Number and Type In situ Diamonds Carat Grade
of Bulk Samples Volume Recovered Weight (ct/m3)
(m3)
-------------------------------------------------------------
Saprolitic
kimberlite
-------------------------------------------------------------
29 Samples 3,445 8,590 1,032 0.30
-------------------------------------------------------------
Overlying Soils
-------------------------------------------------------------
18 samples 1,210 2,995 374 0.31
-------------------------------------------------------------
Eluvial Gravels
-------------------------------------------------------------
47 samples 1,487 6,051 917 0.62
-------------------------------------------------------------
The comparison of results by structural blocks and material type suggests potentially economic grades on all blocks and material types sampled but poor correlation between grades from one block to another and between material types. For example, high grade results obtained from eluvial gravel overlying Block 4 are not supported by the underlying kimberlite results as can be seen in Table 3 below. This suggests some down-slope transportation of the gravels.
Table 3: Grade results by Block at Collier-04---------------------------------------------------------------------
Average Grades (ct/m3)
---------------------------------------------------------------------
Eluvial Saprolitic
Soils Gravels Kimberlite
---------------------------------------------------------------------
Block 1 0.29 0.67 0.30
---------------------------------------------------------------------
Block 2 0.22
---------------------------------------------------------------------
Block 3 0.23 0.59 0.42
---------------------------------------------------------------------
Block 4 0.46 1.48 0.20
---------------------------------------------------------------------
Block 5 0.19
---------------------------------------------------------------------
A detailed study and interpretation of the results particularly as they correlate to the different phase of the kimberlite geology will be undertaken. Bulk sampling of colluvial and alluvial material immediately adjacent to the Collier-04 kimberlite pipe and further downstream has been initiated. Diagem is also preparing to obtain a valuation of the Collier-04 diamonds through a business arrangement with the Natural Diamond Corporation of Antwerp, Belgium. Construction of a pilot concentration plant capable of processing 25 cubic metres per hour (approx. 45 tonnes of material per hour) at Collier-04 is expected to be completed in October 2006.
The Collier-04 project is located in the Juina diamond district of Mato Grosso, Brazil, famous for its historical alluvial diamond production. Diagem controls over 130,000 hectares of mineral concessions in the area. The Collier-04 project is part of Mining Concession 214, one of two properties, including Property 213, acquired from Rio Tinto. Diagem owns a 100% in these properties subject to certain royalties payable to Rio Tinto and a buy back option by Rio Tinto. On completion of exploration and development expenditures by Diagem totalling $US 6.0 million, Rio Tinto has 90 days to exercise a 55% buy back option on the properties by reimbursing Diagem 1.75 times its exploration and development expenditures.
Maps are available at the following addresses:
www.ccnmatthews.com/docs/diafig1.pdf
www.ccnmatthews.com/docs/diafig2.pdf
www.ccnmatthews.com/docs/diafig3.pdf
www.ccnmatthews.com/docs/diafig4.pdf
The technical content of this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person and Chairman of the Board of Directors of Diagem Inc.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Contact:
Denis Francoeur
Diagem Inc.
Chief Executive Officer
(514) 866-6001 or (450) 552-6023 (direct)
(514) 866-6193 (FAX)
dfrancoeur@diagem.com
Paul Einarson
Diagem Inc.
Chief Financial Officer
(514) 866-6001, Ext.: 251
(514) 866-6193 (FAX)
peinarson@diagem.com
www.diagem.com
--------------------------------------------------------------------------------
Source: Diagem Inc.
Diagem Releases near Surface Diamond Grades of the Collier-04 Kimberlite Pipe Proper and Grades of the Soils Overlying the Kimberlite and the Eluvial Gravels
Thursday September 21, 2:50 pm ET
MONTREAL, QUEBEC--(CCNMatthews - Sept. 21, 2006) - Diagem Inc. ("Diagem" or "the Company") (TSX VENTURE:DGM - News) is pleased to report additional diamond grades of kimberlite bulk samples at its 17 hectare Collier-04 kimberlite pipe located in the Juina diamond district of Mato Grosso, Brazil. A total of 3,517 cubic meters (m3) of saprolitic (oxidized) kimberlite material extracted from 29 samples in 19 trenches were processed through the Company's X-Ray Sorting facility. A total of 8,599 diamonds coarser than 1.7mm were recovered weighing a total 1,032 carats at an average in-situ grade of 0.30 carats per cubic metre (ct/m3).
With these results from the kimberlite bulk sampling, a comparison can be made with earlier results by Rio Tinto Desenvolvimentos Minerais Ltda (Rio Tinto). As seen in Table 1, Diagem's average grade results of 0.30 ct/m3, obtained for diamonds coarser than 1.7 mm, are twice as high as Rio Tinto results of 0.16 ct/m3. Surprisingly, this is not reflected in the average size of stones recovered which is similar at 0.12 carats. Detailed results by size fraction of the diamonds recovered in this phase of the bulk sampling program are illustrated in Figure 1. Diamonds less than 1.7mm were inadvertently recovered above the 1.7mm bottom screen and do not represent the through population of the lower size fractions. The fines from a representative sample will be processed to obtain a complete size distribution. However, taking into consideration the diamonds smaller than 1.7mm inadvertently recovered, the grade increases to 0.47 ct/m3 metre from a total of 28,598 diamonds weighing 1,605 carats.
Table 1: Comparison of Diagem and Rio Tinto kimberlite results from
Collier-04 (1) is available at the following address:http://www.ccnmatthews.com/docs/Collier.pdf(1) The parameters and limitations to the exercise presented in the
table are: - The historical grade of 0.40 ct/tonne in kimberlite obtained by
Rio Tinto taking into consideration stones above 1.0 mm. At a
cut-off of 1.7 mm, the grade decreases to 0.21 ct/tonne; - In addition, the grade expressed in tonnes was calculated based
on the weight of dry samples. Our samples are wet, not dried.
Calculation of Rio Tinto grade using wet material produces a
lower grade. - To simplify the conversion of the grade calculation from tonnes
to cubic metres, a specific gravity of 2 grams/cm3 is assumed for
both kimberlite and gravel material. Rio Tinto was actually using
a specific gravity of 1.87 grams/cm3 for weathered kimberlite
which for the purpose of the exercise would result in a lower
grade expressed in cubic metre. - The material collected by Diagem is more voluminous but consists
of near surface deeply weathered saprolitic kimberlite in
trenches at the periphery of the kimberlite. Rio Tinto's sampling
consisted of saprolite, saprock and hard rock kimberlite in core
drilling and reverse circulation drilling at regular intervals
over the entire kimberlite and from occasional surface trenches.
Structural Block 3, located in the southeast portion of the pipe, returned the best results with an average grade of 0.417 ct/m3 using a 1.7 mm bottom sieve (0.645 ct/m3, uncut) (see Figure 2). The average grade is significantly impacted by one sample which returned a grade of 1.060 ct/m3 from 1,138 diamonds weighted at 133.89 carats (+1.7 mm). The average grade from Block 1 (northeast portion of the kimberlite) and Block 4 (southwest portion) show average grades of 0.297 ct/m3 and 0.200 ct/m3, respectively. Grade results overall are consistent with the median (0.275 ct/m3) close to the average (0.30 ct/m3). Only five samples have grades below 0.10 ct/m3. The kimberlite on Blocks 2 and 5, central to the body, could not be tested due to a sand cover indicated to be up to 30 metres thick based on the previous Rio Tinto drilling. This suggests down faulting of the central block.
As shown in Table 2, grades obtained from kimberlite are lower than grades in the overlying eluvial gravels. Eluvial grades, the subject of the August 11, 2006 press release are presented in map form in Figure 4 for correlation purposes.
Bulk sampling of soil material overlying the kimberlite body and the eluvial gravels was also conducted. A total of 18 samples for an aggregate volume of 1,210 m3 have been collected. The soil results presented in Table 2 and in Figure 3 suggest that diamond grades in the soil cover overlying the gravel layer would justify processing the soil cover with gravel material at the mining stage without a significant dilution of the mining grade. The mining grade remains to be calculated.
Table 2: Comparison of diamonds grades for the soils, eluvial gravels and the underlying near surface saprolitic kimberlite .
-------------------------------------------------------------
Diamonds
greater or equal 1.7 mm
-------------------------------------------------------------Number and Type In situ Diamonds Carat Grade
of Bulk Samples Volume Recovered Weight (ct/m3)
(m3)
-------------------------------------------------------------
Saprolitic
kimberlite
-------------------------------------------------------------
29 Samples 3,445 8,590 1,032 0.30
-------------------------------------------------------------
Overlying Soils
-------------------------------------------------------------
18 samples 1,210 2,995 374 0.31
-------------------------------------------------------------
Eluvial Gravels
-------------------------------------------------------------
47 samples 1,487 6,051 917 0.62
-------------------------------------------------------------
The comparison of results by structural blocks and material type suggests potentially economic grades on all blocks and material types sampled but poor correlation between grades from one block to another and between material types. For example, high grade results obtained from eluvial gravel overlying Block 4 are not supported by the underlying kimberlite results as can be seen in Table 3 below. This suggests some down-slope transportation of the gravels.
Table 3: Grade results by Block at Collier-04---------------------------------------------------------------------
Average Grades (ct/m3)
---------------------------------------------------------------------
Eluvial Saprolitic
Soils Gravels Kimberlite
---------------------------------------------------------------------
Block 1 0.29 0.67 0.30
---------------------------------------------------------------------
Block 2 0.22
---------------------------------------------------------------------
Block 3 0.23 0.59 0.42
---------------------------------------------------------------------
Block 4 0.46 1.48 0.20
---------------------------------------------------------------------
Block 5 0.19
---------------------------------------------------------------------
A detailed study and interpretation of the results particularly as they correlate to the different phase of the kimberlite geology will be undertaken. Bulk sampling of colluvial and alluvial material immediately adjacent to the Collier-04 kimberlite pipe and further downstream has been initiated. Diagem is also preparing to obtain a valuation of the Collier-04 diamonds through a business arrangement with the Natural Diamond Corporation of Antwerp, Belgium. Construction of a pilot concentration plant capable of processing 25 cubic metres per hour (approx. 45 tonnes of material per hour) at Collier-04 is expected to be completed in October 2006.
The Collier-04 project is located in the Juina diamond district of Mato Grosso, Brazil, famous for its historical alluvial diamond production. Diagem controls over 130,000 hectares of mineral concessions in the area. The Collier-04 project is part of Mining Concession 214, one of two properties, including Property 213, acquired from Rio Tinto. Diagem owns a 100% in these properties subject to certain royalties payable to Rio Tinto and a buy back option by Rio Tinto. On completion of exploration and development expenditures by Diagem totalling $US 6.0 million, Rio Tinto has 90 days to exercise a 55% buy back option on the properties by reimbursing Diagem 1.75 times its exploration and development expenditures.
Maps are available at the following addresses:
www.ccnmatthews.com/docs/diafig1.pdf
www.ccnmatthews.com/docs/diafig2.pdf
www.ccnmatthews.com/docs/diafig3.pdf
www.ccnmatthews.com/docs/diafig4.pdf
The technical content of this news release has been approved by Dr. Mousseau Tremblay, of Williamstown, Ontario, a Qualified Person and Chairman of the Board of Directors of Diagem Inc.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Contact:
Denis Francoeur
Diagem Inc.
Chief Executive Officer
(514) 866-6001 or (450) 552-6023 (direct)
(514) 866-6193 (FAX)
dfrancoeur@diagem.com
Paul Einarson
Diagem Inc.
Chief Financial Officer
(514) 866-6001, Ext.: 251
(514) 866-6193 (FAX)
peinarson@diagem.com
www.diagem.com
--------------------------------------------------------------------------------
Source: Diagem Inc.