Owner
Post by Franko10 ™ on Feb 18, 2008 8:57:11 GMT -5
Diagem to Resume Work on the Chapadao Discovery (ccnm)
MONTREAL, QUEBEC--(Marketwire - Feb. 7, 2008) - Diagem Inc. ("Diagem" or "the Company")(TSX VENTURE:DGE) is pleased to report on the publication of the approval of the final exploration report on the Chapadao property in the Juina Diamond Province of Mato Grosso, Brazil. The announcement was made on February 6, 2008, in the Official Gazette of Brazil by the National Department of Mineral Production ("DNPM") in Brasilia, Brazil. The Company also holds a license of operation that was issued by the Mato Grosso Environmental Secretariat ("SEMA"). The license is valid until April 4, 2010.
Denis Francoeur, CEO of Diagem commented: "The issuance of a "Guia de Utilisacao", or a large scale bulk sampling permit, by the DNPM is the only pending document for the work to resume on the property and we expect to receive this permit shortly. Field crews are mobilizing the equipment and will be prepared to commence work by mid-February. The objective of the program is to delineate the Chapadao kimberlite bodies with two diamond drills and to bulk sample the surface exposures of the kimberlite bodies for diamond grade". Ground magnetic surveying, soil surveying and auger drilling for diamond indicator minerals will be conducted on the remaining portion of the property to identify and define additional targets.
The Company has contracted the services of Brazilian diamond driller Geosol-Geologia e Sondagens Ltda. The program of surface bulk sampling will be conducted using the Company's two 10-cubic metre per hour moveable concentration plants. Processing of the heavy mineral concentrates for the recovery of commercial-size diamonds will be done at the Company's X-Ray facility in Juina.
About the Chapadao Discovery
Seven kimberlite pipe-like bodies forming a tight cluster have already been identified based on the recognition of crater facies kimberlitic material. Independent petrographic, mineralogical and geochemical studies have been conducted on the surface exposures in 2007 and have confirmed Diagem's geological interpretation (press releases of October 10th and November 27th, 2007). Six other kimberlite targets have been identified but need to be confirmed. Preliminary bulk sampling, conducted in November and December of 2006, indicated diamond grades ranging between 0.28 and 1.26 carats per cubic metre (see press release dated January 11, 2007). A total of 849 diamonds coarser than 1.7 millimetres weighing in total 155 carats including a 4.67 carat diamond and eight diamonds ranging between 1.20 and 1.34 carats were recovered. The area is also known for the occurrence of a valuable rare type of diamonds often harbouring a fancy pink colour (see press release dated November 13, 2007). The Chapadao area is accessible year round and is amenable to open pit mining which translates into low extraction costs.
This press release has been reviewed by Christopher Le Noan, B.Sc, P. Geo., Diagem's qualified person under National Instrument 43-101.
About Diagem
Diagem Inc. is a publicly listed Canadian exploration-stage company focused on primary diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has one advanced development stage project and recently discovered two clusters of kimberlite pipes believed to be the main sources of Juina's historical alluvial diamond production.
Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem Inc.
Denis Francoeur, CEO
514-488-4961 (ext. 501)
or
Diagem Inc.
Paul Einarson, CFO
514-488-4961 (ext. 502)
WWW.DIAGEM.COM
or
Nicole Blanchard
Investor Relations
450-973-6690
MONTREAL, QUEBEC--(Marketwire - Feb. 7, 2008) - Diagem Inc. ("Diagem" or "the Company")(TSX VENTURE:DGE) is pleased to report on the publication of the approval of the final exploration report on the Chapadao property in the Juina Diamond Province of Mato Grosso, Brazil. The announcement was made on February 6, 2008, in the Official Gazette of Brazil by the National Department of Mineral Production ("DNPM") in Brasilia, Brazil. The Company also holds a license of operation that was issued by the Mato Grosso Environmental Secretariat ("SEMA"). The license is valid until April 4, 2010.
Denis Francoeur, CEO of Diagem commented: "The issuance of a "Guia de Utilisacao", or a large scale bulk sampling permit, by the DNPM is the only pending document for the work to resume on the property and we expect to receive this permit shortly. Field crews are mobilizing the equipment and will be prepared to commence work by mid-February. The objective of the program is to delineate the Chapadao kimberlite bodies with two diamond drills and to bulk sample the surface exposures of the kimberlite bodies for diamond grade". Ground magnetic surveying, soil surveying and auger drilling for diamond indicator minerals will be conducted on the remaining portion of the property to identify and define additional targets.
The Company has contracted the services of Brazilian diamond driller Geosol-Geologia e Sondagens Ltda. The program of surface bulk sampling will be conducted using the Company's two 10-cubic metre per hour moveable concentration plants. Processing of the heavy mineral concentrates for the recovery of commercial-size diamonds will be done at the Company's X-Ray facility in Juina.
About the Chapadao Discovery
Seven kimberlite pipe-like bodies forming a tight cluster have already been identified based on the recognition of crater facies kimberlitic material. Independent petrographic, mineralogical and geochemical studies have been conducted on the surface exposures in 2007 and have confirmed Diagem's geological interpretation (press releases of October 10th and November 27th, 2007). Six other kimberlite targets have been identified but need to be confirmed. Preliminary bulk sampling, conducted in November and December of 2006, indicated diamond grades ranging between 0.28 and 1.26 carats per cubic metre (see press release dated January 11, 2007). A total of 849 diamonds coarser than 1.7 millimetres weighing in total 155 carats including a 4.67 carat diamond and eight diamonds ranging between 1.20 and 1.34 carats were recovered. The area is also known for the occurrence of a valuable rare type of diamonds often harbouring a fancy pink colour (see press release dated November 13, 2007). The Chapadao area is accessible year round and is amenable to open pit mining which translates into low extraction costs.
This press release has been reviewed by Christopher Le Noan, B.Sc, P. Geo., Diagem's qualified person under National Instrument 43-101.
About Diagem
Diagem Inc. is a publicly listed Canadian exploration-stage company focused on primary diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has one advanced development stage project and recently discovered two clusters of kimberlite pipes believed to be the main sources of Juina's historical alluvial diamond production.
Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
FOR FURTHER INFORMATION PLEASE CONTACT:
Diagem Inc.
Denis Francoeur, CEO
514-488-4961 (ext. 501)
or
Diagem Inc.
Paul Einarson, CFO
514-488-4961 (ext. 502)
WWW.DIAGEM.COM
or
Nicole Blanchard
Investor Relations
450-973-6690
