Braz Diamond Mining Inc. Announces Major Acquisition of Redondao Kimberlite 2/16/2005 6:33:15 AM
CALGARY, ALBERTA, Feb 16, 2005 (CCNMatthews via COMTEX) -- Braz Diamond Mining Inc., (PINK SHEETS:BZDJ) is pleased to announce the acquisition of mineral claim exploration licenses covering the Redondao kimberlite.
The Redondao kimberlite pipe was the first kimberlite discovered in Brazil during the course of geological mapping in the 1960's. It is located in the upper flow of the Ribeirao do Mateiro, the right tributary of the Paranaiba River. The pipe is very large by world's standards with a surface diameter in excess of 1 kilometer. The mineralogy of kimberlite indicator minerals from the Redondao pipe has been preliminarily studied. Pyrope garnet, chrome-diopside, picroilmenite, and diamond are all present in the pipe.
"Securing the mineral rights on the Redondao kimberlite and surrounding diamond claim areas is a significant achievement for the Company. Braz now controls the country's largest known diamondiferous kimberlite," stated Chris Hemstock, P.Eng., Company President and CEO . "While more work and bulk sampling of the pipe lies ahead to determine if the pipe can be economically mined, the geotechnical results to date are very, very promising."
Historically, diamonds have been mined by local miners ("garimpeiros") from this region for some time. Kimberlite and lamproite "pipes" are the primary source of diamonds with approximately ten percent of all known pipes worldwide containing diamonds. The composition of the diamond indicator minerals found in the Redondao pipe are similar to those found in South African and North American kimberlites. The Company's field exploration and evaluation has revealed that there has not been a detailed geotechnical survey or major bulk sampling of the pipe.
Braz Diamond Mining, Inc. is a dynamic junior diamond exploration and mining company focused on developing highly prospective mineral projects in Brazil. Together through its wholly-owned Brazilian subsidiary, Braz holds ownership interest in a number of mineral projects, including a favorable diamond exploration project in the state of Piaui. Exploration and development work to date has confirmed the existence of high-grade alluvial diamond deposits, the existence of several confirmed kimberlites (the host rock of diamonds), and numerous kimberlite targets within areas of known alluvial diamond production.
Braz Diamond Mining Inc.
Chris Hemstock, P. Eng.
President/CEO
(403) 444-0948
info@brazdiamond.com
www.brazdiamond.com
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