|
Property |
Location |
Deposit Type |
Interest |
Status |
|
Duas Barras |
Brazil |
Alluvial Deposit |
100% |
Brazil’s newest diamond mine commenced
commercial production in September 2007. |
Duas Barras Diamond Mine
Vaaldiam holds 100% interest in the Duas
Barras diamond property, situated 150 kilometres north of
the historic town of Diamantina in the State of Minas Gerais,
Brazil. This diamond district was the world’s largest
diamond producing area prior to 1870. The 171 hectare Duas
Barras property encompasses a 5 kilometre portion of the
Jequitinhonha River. The diamonds produced from alluvial
gravels along the Jequitinhonha River are predominantly
gem-quality cuttable goods.
Vaaldiam is preparing to restart diamond
production at the Duas Barras mine with production expected
in the third quarter of 2010. The mine contains National
Instrument 43-101 compliant indicated resources of 1,530,800
cubic metres of gravel at an average grade of 0.16 carats
per cubic metre and 0.18 grams gold per cubic metre, and
inferred resources of 810,000 cubic metres of gravel at an
average grade of 0.16 carats per cubic metre and 0.18 grams
of gold per cubic metre. The mine is expected to generate
immediate and self sustaining cash flow for Vaaldiam from
the sale of diamonds and gold. Prior to the 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.
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