SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Brazil Diamond Play PVF PXM EM
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Diamond Daze who wrote (52)12/8/1999 7:29:00 PM
From: 1st.mate  Read Replies (1) of 64
 
PARAMOUNT VENTURES AND FINANCE INC.

Progress Report on the Joint Interest Mineral Claim,
Mato Grosso, Brazil

Paramax Resources Ltd. (?Paramax?) (CDNX-PXM) and Paramount Ventures and
Finance Inc. (?Paramount?) (CDNX-PVF) are pleased to
announce the results of the initial tests on the joint interest mineral
claim in the State of Mato Grosso, Brazil.

Paramax has the right to earn up to a 40% interest in the claim block by
making cumulative expenditures of US $250,000 over a period of twelve
months.

The 10,000 hectares mineral claim block is situated between the towns of
Alto Paraguai and Diamentino.

The bulk test of the alluvial gravels has indicated an average diamond
recovery grade of 0.5 cts per cubic meter. Stone sizes recovered range
from 0.05 to 3.2 carats. The diamonds are generally of high quality and
the majority are gem-type stones. The diamonds recovered include red
and blue coloured stones.

Local prices for the Alto Paraguai diamonds are reported to range from
US $140 per ct for stones less than 1 ct and US $400-$500 per ct for 1.5
to
2.5 ct stones. Stones larger than 3.0 cts carry a premium price
dependent on the quality of the stones.

The bulk testing results are extremely encouraging and the company
intends to set up a central processing plant to process the alluvial
gravels
on a commercial basis. The existing equipment will allow processing of
gravels in excess of 100 cubic meters of gravel per day. The plant
equipment has been designed to allow additional processing capacity in
the future.

The company is continuing an area study to determine new areas with
economic diamond recovery. This study is also reviewing the existing
claim blocks to determine the priority areas for field exploration work.

Paramount Ventures and Finance Inc. owns approximately 55% of Paramax?s
outstanding shares.

For further information contact: For further information contact:
David DiRicco Paul Conroy, President
Tel: 1-888-356-4843 Tel: 1-800-565-5059
Fax: (650) 367-5071 Fax: (604) 687-1338
Email: davidjdiricco@worldnet.att.net paramaxresources.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News