Brazil Minerals (OTC PINK: BMIX) announced that its Pindaíba diamond operation in the eastern state of Minas Gerais has been producing a considerable amount of gem-quality stones.
In a press release, the miner said that the diamonds recovered locally that have been cut and polished, and later graded and certified at the Gemological Institute of America, had an average Rappaport valuation of $3,250 per carat.
Pindaíba is a storied area that has had thousands of diamond prospectors in the past
The gems’ highest colour grade was E and their best clarity was VVS1. Most of them, however, graded F-G for colour and VVS2-VS2 for clarity and weighed between 0.4 and 2.0 carats.
According to Brazil Minerals, the best diamond production runs have come from excavated areas located at the edge of the licensed perimeter for mining and close to the local waterway.
“For alluvial gold production, the difference in yield between the two extremes of the licensed perimeter has been up to eighteen-fold,” the media brief states.
Given these results, the company said it is focusing on moving its operations towards the mining areas with the most attractive concentrations.