Five Star Diamonds Expands Its Ownership In Brazil

In light of the exceptional results obtained on the drilling program at the 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 1990s, 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 program.

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 were 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 the Jaibaras diamond project.

Filed in: Diamonds, Resources

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