The mineral rights were located in the Jequitinhonha River Valley, which had been a well-known source of gem-quality alluvial diamonds for over two centuries.
The company said it had drilled 35 holes spaced 30 to 50 meters apart utilising a Banka 4-inch percussion rotary drill.
“Our identification of an initial diamond-rich zone within a gold mineralization area is a very good outcome,” said company chief executive Marc Fogassa.
“It is relevant to note that this particular mineral right has 1,310 acres and this drilling campaign covered only a small portion of such area.”
All drill holes were previously found to be positive for fine gold and further inspection of collected samples indicated that there was a diamond-rich zone in the area as well.
Satellite markers for diamonds, such as limonite, rutilite and tourmalinite, among others, were observed in all samples recovered within this diamond-rich zone.
The Jequitinhonha River Valley had been a well-known source of gem-quality alluvial diamonds for over two centuries.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished