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Duas Barras

 

Duas Barras Diamond Mine

Vaaldiam holds 100% interest in the Duas Barras alluvial diamond mine, situated 150km north of the historic town of Diamantina in the State of Minas Gerais, Brazil.  It is Brazil’s newest diamond mine and commenced commercial production in September 2007.  This diamond district was the world’s largest diamond producing area prior to 1870.  The 171 hectare Duas Barras property encompasses a 5km portion of the Jequitinhonha River.  The diamonds produced from alluvial gravels along the Jequitinhonha River are predominantly gem-quality cuttable goods.  

The mine contains National Instrument 43-101 compliant resources of:

Category Volume (m³) Diamond grade (cts m³) Diamond Content (carats) Gold grade (g/m³) Gold Content (oz)
Indicated 1,530,800 0.16 244,930 0.18 8,958
Inferred 810,800 0.16 129,730 0.18 4,745

Prior to the recent financial crisis the Duas Barras mine achieved average rough diamond sales values of US$165 per carat.  Operating costs are expected to average US$85 per carat.

Exploration Potential: Vaaldiam is actively negotiating to acquire additional properties in the Duas Barras area, which have the potential to significantly expand the volume and duration of diamond production. 

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