Brazilian Diamonds finds micro-diamonds

Brazilian Diamonds (BDY-T, BDY-L) recovered 129 micro-diamonds in samples from the first hole in a series of deep diamond drill tests of the Regis kimberlite pipe in central Minas Gerais, Brazil.

In Toronto on Oct. 17 the company was up nearly 27% or 4 to 19 on 309,000 shares.

Drilling began at the untested pipe-like zone in June of this year.

The first two drill holes were completed in August 2006 to depths of 317 metres and 251 metres respectively — both holes drilled vertically and entered previously untested primary pyroclastic kimberlite. Results from the second hole are pending.

Micro-diamonds were recovered from samples of the pyroclastic kimberlite below 113 metres to the bottom of drill hole at 317 metres. The 129 micro-diamonds in these samples were recovered from 348.75 kg of tested core taken from beneath the re-sedimented crater deposits.

Highlights from the hole include a roughly 10 metre interval yielding 92 micro-diamonds from 16.25 kg of kimberlite between 301.7 to 311.5 metres. The largest stone recovered in this interval remained on a 0.300 mm screen. Another interval of roughly 29 metres yielded 20 micro-diamonds from 48.7 kg from 113.4 to 142.8 metres. The largest stone from any of the samples, which remained on a 0.425 mm screen, was recovered from this interval.

Brazilian says the high concerntration of micro-diamonds in short intervals means there is a chance of having tested multiple phases with varying diamond contents within the pyroclastic kimberlite unit.

It says it will investigate further once results are available from the second drill hole — which was located 100 metres east of the first drill hole.

In a release, Kenneth Judge, Brazilian’s chairman says the find “represents confirmation of the importance of our Regis exploration program.”

He went on to say the find further validates the company’s regional exploration geologic model which is also being applied to other targets within Minas Gerais.

Brazilian Diamonds is a Brazil-based exploration company focused on discovering kimberlites in the states of Minas Gerais and Bahia. The Company is awaiting final approval before it can start the environmental licensing process necessary to develop its Canastra 1 kimberlite body. Mine feasibility work has already been completed for the project and it plans to bring Canastra 1 into production once this licensing process is done.