Canada Firm Bets on Brazilian Diamonds

Canada-based Braz Diamond Mining Inc. now controls Brazil’s largest known diamondiferous kimberlite. The company has just announced the acquisition of its second exploration license covering the Fazenda Largo area in the state of PiauÀ­.

The Fazenda Largo area is about 100 km northeast of the Redondão kimberlite pipe that the company had acquired earlier. Of interest to Braz Diamond is the identification of several ‘circular anomalies’ found in satellite photos of the area.


As well, there is evidence of small scale garimpeiro (gold prospector) activity in the streams from this area.


“Securing the second mineral rights on the Fazenda Largo kimberlite and surrounding diamond claim areas is another significant achievement for the company. Braz now controls the country’s largest known diamondiferous kimberlite,” stated Chris Hemstock, P.Eng., Company President and CEO.


“While more work and bulk sampling of the pipe lies ahead to determine if the pipe can be economically mined, the geotechnical results to date are very, very promising.”


Historically, diamonds have been mined by local miners (“garimpeiros”) from this region for some time. Kimberlite and lamproite “pipes” are the primary source of diamonds with approximately ten percent of all known pipes worldwide containing diamonds.


The composition of the diamond indicator minerals found in the Fazenda Largo pipe are similar to those found in South African and North American kimberlites.


The company’s field exploration and evaluation has revealed that there has not been a detailed geotechnical survey or major bulk sampling of the pipe.


Braz Diamond Mining, Inc., a junior diamond, exploration and mining company, together with its subsidiary, Braz Mining do Brasil, Ltda. holds ownership interest in various mineral properties in Brazil, including a favorable diamond exploration project in the state of Piauí­.


Exploration and development work to date has confirmed the existence of high-grade alluvial diamond deposits and the existence of several kimberlites. The company plans to implement a detailed geotechnical program to identify the sources and productivity of the alluvial deposits.


Cervelle Group
www.brazdiamond.com
 
Business Wire

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