DIAMOND RESOURCES – Duas Barras valued at US$197/ct

BRAZIL - VAALDIAM RESOURCES of Toronto reports that 169.5 ct of diamonds from Duas Barras have been independently valued at US$197/ct. Vaaldiam controls 75% of the alluvial diamond project in the Minas Gerais state.

The largest stone in the parcel was a white dodecahedral stone weighing 4.66 ct that was valued at US$1,395/ct. An additional 24 stones totalling 33.23 ct that fell within the 1.0-4.0-ct size range, obtained an average value of US$354/ct. To view the photo of the rough diamond parcel go to www.vaaldiam.com/pagefind.php?id=4.

Delineation drilling and bulk sampling on the Duas Barras property has defined an indicated resource of approximately 1.7 million bank cubic metres (bcm) at an estimated grade of 0.16 ct/m, representing an in-situ diamond resource of 270,000 ct, and an inferred resource of approximately 1.0 million bcm at an estimated grade of 0.16 carats/m, representing an in-situ diamond resource of 160,000 ct.

Vaaldiam expects construction of a new diamond recovery plant at Duas Barras will be complete during the fourth quarter of this year. The plant is expected to recover 38,000 ct of diamond annually.