Vaaldiam updates on Candle Lake

Vaaldiam Resources Ltd. reports the completion of the 2008 delineation drilling program on its 100% owned Candle Lake C29/30 kimberlite pipe. The estimated 70 hectare kimberlite is situated in the northern end of the Fort á la Corne Kimberlite Field in central Saskatchewan. A total of 21 coreholes totaling 4,700.65 metres were completed as part of a previous delineation program that started in late 2006 and was designed to evaluate the economic potential of this large kimberlite body.

Commenting on the results of this latest program, Brent Jellicoe, VP Exploration and Evaluation said that our recent delineation drilling program has successfully expanded the margins of the pipe which should result in an increase in kimberlite tonnage. The core drilling that was completed indicates that the kimberlite beds are thicker than previously thought, and that the kimberlite forms a more continuous tabular body than what was interpreted previously.

A total of 937 kilograms of kimberlite has been submitted for full diamond recovery to a bottom screen size of 0.106 mm using caustic dissolution methods at the Saskatchewan Research Council (SRC) Geoanalytical Lab in Saskatoon. These microdiamond results will supplement the current database of diamond results, which will be further supplemented with macrodiamond recoveries from the 2007 minibulk samples that are expected to be released later this month. Combined, these results will support diamond grade forecasts with a higher degree of confidence. These studies will contribute to an in-house Conceptual Mine Study that will provide information to determine whether to proceed with a 43-101 compliant inferred resource calculation.

Source : http://www.vaaldiam.com/

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