DIAMONDS — Guyanor and Rio Tinto explore Dachine property

Having signed a joint-venture agreement, Guyanor Ressources (GRL.NB-T) and Rio Tinto (RTP-N) are mobilizing equipment to begin exploration of the Dachine diamond property in French Guiana.

The program will consist of mapping, sampling and limited trenching, to be followed by core drilling on the Main zone in November.

Guyanor, which will operate the project in the first year, also plans to conduct mapping and sampling on two additional zones in preparation for an alluvial bulk sample. Exploration at a fourth site has been deferred until the second year of the joint venture.

Rio Tinto can earn a 70% interest in Dachine by spending up to US$17 million on exploration or reaching a production decision. The major must spend US$750,000 by the first anniversary of the June agreement, and more than US$3.7 million by the fifth year.

Diamonds at Dachine are hosted in volcaniclastic komatiites, which differ from the more typical kimberlitic or lamproitic hosts. The komatiites form part of a Proterozoic island-arc sequence, a tectonic setting not typically associated with diamond occurrences. Guyanor says the discovery of diamonds at Dachine supports the theory that komatiite magmas originate at depths of more than 250 km below the surface.