Five Star Diamonds Limited is very pleased to provide the following update on its 100% owned Verissimo Diamond Project in Goias State, Brazil.
- The Verissimo Project was discovered in 2005.
- Five Star Diamonds has identified ten targets with two (V1 and V2) confirmed as kimberlitic pipes.
- The V1 and V2 kimberlite pipes have been bulk sampled by Five Star Diamonds with samples being processed through the Catalao project's pilot plant.
- Bulk sampling has proven that the V1 kimberlite pipe is diamond bearing. Diamonds recovered at the V1 kimberlite pipe are white and are of high quality.
- A single diamond core drill hole was completed into each of the V1 and V2 kimberlite pipes. Samples are being collected and prepared for caustic fusion analysis and microdiamond count.
- Auger drilling and kimberlite indicator sampling programmes will commence in the coming months on kimberlite targets V3-V10.
The Verissimo Diamond Project is located in the southeast portion of Goias State in Brazil and about 80 kilometres to the northeast of Five Star Diamonds Catalao Diamond Project. The Verissimo Project comprises seven mineral properties covering a total of 12,402.99 hectares.
Originally discovered in 2005 and acquired by Five Star Diamonds in 2015 the Company has to date identified ten kimberlite targets at the Verissimo Project with two, known as V1 and V2, confirmed to be kimberlite pipes.
The Company's concessions are in geological proximity to the famous diamond producing area of the Verissimo River from which diamonds have been recovered for more than 100 years. In 1906, a rough diamond of 600ct called the 'Verissimo Diamond' was discovered nearby the Verissimo River.
Exploration work executed at the Verissimo Project to date includes;
- Surface surveying using drone technology to create an imagery base of a 18.13 square kilometres area.
- Ground magnetic survey using 25m line spacing has defined the locations of V1 to V10 potential targets. A total of 356 linear kilometres have been surveyed during this phase.
- A short diamond drilling programme (2 holes, total of 251.10) confirmed V1 and V2 to be kimberlite pipes.
- Mini-bulk sampling of V1 and V2 resulted in the recovery of a small amount of macro diamonds from V1 kimberlite.
- Dark red garnets (possible pyrope garnets) and Cr-diopsides were recovered and classified as the main kimberlite indicator minerals ("KIM") from the concentrate during the mini-bulk sampling on the V2 kimberlite.
The Company is planning to conduct the following exploration activities over the coming months;
- Caustic fusion and microdiamond analysis ("MiDA") to commence on drill samples from V1 and V2 kimberlites.
- Evaluate targets (V3 to V10) with auger drilling, trenching and loan sampling.