Diagem Starts Drilling the Chapadao Kimberlites
March 10 2008 - 11:14AM
Marketwired
MONTREAL, QUEBEC (TSX VENTURE: DGE) is pleased to report the
commencement of a diamond drill program on its Chapadao Kimberlite
Cluster in Juina, Brazil. The Chapadao kimberlites are known to be
diamondiferous and are believed to be a significant source of the
Juina alluvial diamond production.
Denis Francoeur, CEO of Diagem commented: "This is the moment we
have been waiting for. Issuance of the bulk test permit, on March
7, 2008, was the only document pending to resume work on the
property".
Delineation of the Chapadao kimberlite bodies has started with
two diamond drill rigs as part of a first stage 7,500 metre drill
program. Two moveable concentration plants with a capacity of
processing ten cubic metres per hour are on site and will resume
bulk sampling the surface exposures of the kimberlite bodies for
diamond grade as soon as a tailings area is ready. Earlier bulk
sample results are provided below. The heavy mineral concentrates
will be processed at the Company's recently upgraded X-Ray
separator facility in Juina. Grade results will be released on a
regular basis in the upcoming months. The exploration program will
also include a ground magnetic survey and soil sampling and auger
drilling for diamond indicator minerals to identify and define
additional kimberlite body targets on the remaining portion of the
property.
About the Chapadao Discovery
Seven kimberlitic 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). 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 were
recovered, including a 4.67 carat diamond and eight diamonds
ranging between 1.20 and 1.34 carats. Six other kimberlite targets
have been identified but need to be confirmed. The Chapadao 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 Christophe Le Noan,
M.Sc, 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 two recently discovered clusters of
kimberlite pipes believed significant 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.
505) Diagem Inc. Paul Einarson, CFO 514-488-4961 (ext. 502)
www.diagem.com Nicole Blanchard Investor Relations 450-973-6690
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