Vaaldiam reported that 562 diamonds with a total weight of 13.03 carats have been recovered from 88.25 dry tonnes of kimberlite from the Artemisia kimberlite pipe, indicating a recovered grade of 14.77 carats per hundred tonnes (cpht). The three hectare Artemisia pipe is situated on the KIM property located in the Coronation region of Nunavut,
Canada.
Following the analysis of sampling results, the decision was made by Vaaldiam to terminate the option on the property and all expenditures incurred up to Mar/07 were written off.
December 7, 2006
Processing of the 100-tonne mini-bulk sample from the Artemisia kimberlite has commenced, with results expected during the first quarter of 2007. In addition, a one-tonne sample was also collected from the Perseus kimberlite to assess the diamond distribution within this kimberlite dike system.
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