Diagem’s higher grade at Chapadăo

Diagem Inc. reports a higher grade in the second 2008 bulk sample from its Chapadão Project in Mato Grosso, Brazil. Bulk sample BT-02 returned an in-situ grade of 0.68 ct/m³ from the processing of 94 m³ of the ash fall layer. The sample yielded 556 diamonds weighing 111 carats for an average diamond weight of 0.20 carats. All results stated herein only include diamonds larger than 1.7 mm.

Bulk sample BT-01 had previously returned an in-situ grade of 0.36 ct/m3 from 80 m³ of the ash-fall layer. This sample yielded 102 stones including a gem-quality 6.23 carat diamond.

The second bulk test was collected 180 metres southeast of sample BT-01. It encountered the ash fall layer at an average depth of 6.5 metres. The ash-fall layer is 1.7 metres thick and exhibits small scale post-depositional displacements. Auger drilling done in conjunction with the bulk sampling has continued to extend the surface area of the diamondiferous ash-fall.

Denis Francoeur, CEO of Diagem commented, it is encouraging to note that the average diamond weight of the first two Chapadão bulk samples is nearly twice that of the diamonds recovered at the Collier-04 kimberlite pipe.

The Chapadão Project has the potential to become a major employer for the community and has the promise of a significant return for the shareholders who have long supported the Company. The Company is vigorously pursuing all legal means of reversing the IBAMA intervention with the goal of rapidly resuming field activities.

Source : http://www.diagem.com/

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