Wednesday, 27th September 2006 (2512 views)

Vaaldium resources has reported that it has increased the value of its diamond site after testing gold concentrates derived from bulk mineral sampling procedures.

The Duas Barras deposit is situated in Brazil. The analysis has determined an in situ fine gold grade of 0.18 grams of gold per cubic metre.

This has boosted the indicated resources to 1.7 million bank cubic metres of diamond at 0.16 carts per cubic metre and 0.18 grams of gold per cubic metre, representing an actual resource of 270,000 carats of diamond and 9,838 ounces of gold.

Inferred resources add a resource of 160,000 carats of diamond and 5,787 ounces of gold at Duas Barras.

Vaaldium president Ken Johnson commented: "The gold results suggest that the recovery of the free gold by simple, low cost gravity methods will have a significant positive impact on the revenue potential of the Duas Barras operation.

"At today's gold prices, the gold grade indicates that the recovery of the fine gold has the potential to add approximately $3.50 per cubic metre to the value of the diamond-bearing gravels at Duas Barras."

 

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