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MEI Online: Commodities: Non-Metallic Ores: Diamond: Latest News: June 1st 2004


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:: Paramount Recovers 3.69 Carat Diamond

Paramount Mining Corporation has recovered a 3.69 carat diamond during the commissioning stage of its bulk sampling operation at The Willows Farm, part of the Vaal River Project in South Africa.

Paramount Chief Executive Officer Maureen Muggeridge said: "The recovery of a 3.69 carat diamond at such an early stage is seen by the company as highly significant, demonstrating that larger diamonds are present, thus enhancing the possibility that the deposit is commercially viable".

The diamonds were recovered from a preliminary concentrate of gravel material from the initial bulk sample pit. Commissioning of the plant is continuing.

The company has also reported the recovery of two diamonds totalling 1.81 carats from this early phase of the work program, bringing the total recovered to date to 5.5 carats. The diamonds have been described from site as being of good quality and white in colour.



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