Diagem to Resume Work on the Chapadao Discovery
07 Febbraio 2008 - 8:20PM
Marketwired
MONTREAL, QUEBEC (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.
Contacts: Diagem Inc. Denis Francoeur, CEO 514-488-4961 (ext.
501) Diagem Inc. Paul Einarson, CFO 514-488-4961 (ext. 502)
WWW.DIAGEM.COM Nicole Blanchard Investor Relations 450-973-6690
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