Vaaldiam Resources Ltd.: Bulk Sampling to Start on Duas Barras Property.TORONTO -- Vaaldiam Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:VAA VAA Virgin Atlantic Airways VAA Vaasa, Finland - Vaasa (Airport Code) VAA Voice Activated Assistant VAA Visual Arts Association VAA Viatical Association of America VAA Visual Access Angle ) reports that the Fundacao Estadual Do Meio Ambiente ("FEAM"), the Environmental Agency of the state of Minas Gerais Minas Gerais (mē`nəs zhərīs`) [Port.,=various mines], state (1996 pop. 16,660,691), 226,707 sq mi (587,171 sq km), E Brazil. The capital is Belo Horizonte. Minas Gerais continues to produce more than half of Brazil's mineral wealth. , has granted approval of the Company's environmental permit application for the Duas Barras Duas Barras is a municipality located in the Brazilian state of Rio de Janeiro. Its population was 10,622 (2005) and its area is 375 km².[1] References 1. ^ IBGE - [1] alluvial diamond property, situated 150 kilometers northwest of the town of Diamantina in the state of Minas Gerais, Brazil. The approval of the environmental permit allows Vaaldiam to further its technical due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review of the property. This review includes the extraction and processing of a 3,000 cubic meter Noun 1. cubic meter - a metric unit of volume or capacity equal to 1000 liters cubic metre, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms bulk sample to confirm both diamond grade and value. A topographic survey is close to completion and percussion drilling is in progress to confirm the continuity of the gravel deposits and to allow for resource estimation. Installation of the Company's new bulk sampling diamond recovery plant is almost complete and commissioning of the processing plant is scheduled to commence in early June. Vaaldiam holds an option to acquire a 70% equity interest in the Duas Barras property from Mineracao Marly marl n. A crumbly mixture of clays, calcium and magnesium carbonates, and remnants of shells that is sometimes found under desert sands and used as fertilizer for lime-deficient soils. tr.v. Ltda., which completed a limited program of percussion drilling to test a portion of a 500 meter wide terrace deposit A terrace deposit is geological term for a flat platform of land created alongside of a river or sea, where, at some time in the past, the river has cut itself a deeper channel. The former floodplain of the river is therefore at a higher point and is known as a terrace. which extends along the left bank of the Jequitinhonha River. Marly also completed a bulk sampling program in 2002, which involved the excavation and processing of 4,263 cubic meters of alluvial gravel from the central portion of the deposit. This bulk sample reportedly yielded 1,108.34 carats of diamonds, suggesting a grade of 0.26 carats per cubic meter. According to Marly, these diamonds were sold during 2002 in 12 separate parcels for total proceeds of US$246,346, suggesting an average sales value of US$222 per carat at the time. Individual diamonds ranging in size from 0.15 to 7.41 carats were reportedly recovered during this period. Coarse free gold was also recovered during the processing of the bulk sample, with a reported 24.5 ounces of gold being sold by Marly during 2002. The 7,000 hectare Duas Barras property encompasses a 5 kilometer portion of the Jequitinhonha River. Alluvial diamond deposits associated with the Jequitinhonha River currently produce an estimated US$500,000 to US$750,000 of diamonds each month from a combination of industrial-scale river dredge operations and smaller garimpeiro workings. The diamonds produced from alluvial gravels along the Jequitinhonha River are predominantly gem-quality cuttable goods, with typical sales values ranging between US$150 to US$250 per carat. Large scale river dredging operations have been conducted both upstream and downstream of the Duas Barras property. These dredging operations combined with exploration activities in areas immediately adjacent to the property provide strong evidence that significant buried gravel deposits lie within the boundaries of the property. The property remains relatively untouched and offers a unique opportunity for Vaaldiam to utilize its expertise in alluvial mining to generate early cash flow by developing a medium scale mining operation. This release has been reviewed by Dr. Luiz Bizzi, Vaaldiam's Chief Diamond Consultant, who is a qualified person under National Instrument 43-101. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. Vaaldiam Resources Ltd. (TSX VENTURE:VAA) |
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