|
Property |
Location |
Deposit Type |
Interest |
Status |
|
Pimenta Bueno |
Brazil |
Kimberlite Deposits |
100% |
Advanced Exploration; 41 kimberlites |
Location
Vaaldiam
Resources holds a 100% interest in the Pimenta Bueno
property located in Rondonia State, Brazil. The property
covers approximately 250,000 hectares and encompasses 38
kimberlite pipes and 3 dyke systems.
Some of the kimberlite pipes are
quite large with surface areas of 20 hectares,
indicating excellent potential for large tonnage
deposits. The Pimenta Bueno district continues to
produce large, high quality diamonds from alluvial
deposits that appear to be closely associated with
kimberlite occurrences in the district.
Preliminary mini-bulk sampling
results from Rio Tinto indicate that 3 of the 9 pipes
tested to date recovered commercial sized diamonds up to
0.20 carats.
Bulk sampling remains ongoing by
Vaaldiam to determine diamond grade and quality.
Rio Tinto retains an option to
back-in to a 60% interest in any kimberlite pipe found
that meets Rio Tinto’s development criteria within the
Southern Block. Rio Tinto’s back in rights are triggered
when Vaaldiam recovers at least 200 carats of commercial
sized diamonds from a bulk sample on any kimberlite in
the Southern Block. In the event Rio Tinto decides to
develop one of these kimberlite pipes they will complete
and fully fund a feasibility study. Should the
feasibility study meet their criteria and Rio Tinto
decide to develop a mine they would fully fund the
construction of the mine and Vaaldiam would retain a 40%
equity interest in cash flow from the mine. In such a
case, Vaaldiam would not need to raise development
equity funding.
