Business
Five Star Diamonds Acquires Additional 60,680 Hectares at Jaibaras Project
TORONTO, ONTARIO--(Marketwired - July 31, 2017) - Five Star Diamonds Limited (TSX VENTURE:STAR) (the "Company" or "Five Star Diamonds") is very pleased to provi
About this update from Trinity One Metals Ltd.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - July 31, 2017) - Five Star Diamonds Limited (TSX VENTURE:STAR) (the \"Company\" or \"Five Star Diamonds\") is very pleased to provide the following update on its activities in Brazil. Highlights The Company has increased in land ownership in Brazil by approximately 50% with an additional 60,680 hectares of land ownership acquired. Jaibaras Diamond Project increases from 522 hectares to 49,443 hectares. Gurupi Diamond Project in Maranhao State across 1 property covering 9,909 hectares. Mega Goias Diamond Project expansion of 1,850 hectares. The Company now controls 24 diamond kimberlite projects in Brazil comprising an aggregate of 80 exploration licences and applications across 185,980 hectares. In light of the exceptional results obtained on the drilling programme at Jaibaras Diamond Project, in Para State, Brazil the Company recently applied for additional mineral properties increasing the Jaibaras Project size from 522.26 hectares to 49.443,47 hectares. These new applications contain regional magnetic anomalies and a series of historical samples collected from De Beers in the 90's, which will add new potential targets to the project. This is a very exciting acquisition for the Company and not only protects the surrounding area where the Company has been actively undertaking its mini-bulk sampling and drilling programme. In addition to the expanded Jaibaras acquisition the Company has also acquired the Gurupi Diamond Project in Maranhao State. The Gurupi Project comprises one property with 9,909 hectares. An additional 1,850 hectares was acquired across two additional properties at the Mega Goias project in Goias State. The Company will evaluate these acquisitions with a primary focus on expanding its current activities in Jaibaras Diamond Project. ABOUT FIVE STAR DIAMONDS The Company is listed on the TSX Venture Exchange under the ticker symbol STAR. The Company controls a dominant and highly enviable position in the Brazilian kimberlite diamond sector owning 24 diamond kimberlite projects comprising an aggregate of 80 exploration licences and applications across 185,980 hectares. Five Star Diamonds is focused on acquiring and developing advanced staged diamond projects in Brazil. Since it was established, it has pursued an accelerated growth strategy and aims to be one of the first producers ...