Diamond’s are a woman’s best friend, and one of Cream Minerals Ltd.’s (OTCBB: CRMXF/TSX: CMA) focal points. The mineral exploration company recently announced that three bulk samples of approximately 6 cubic meters of diamondiferous alluvial products produced 10 diamonds, weighed in at .55 carats per cubic meter.Cream Minerals holds a 70 percent interest in two exploration licenses in Sierra Leone, West Africa, as well as properties in Canada and Mexico.
In 2005, the company entered into an agreement with Casierra Diamond Corp. and its subsidiary to earn the 70 percent interest in production for diamonds and other minerals in Sierra Leone. The recent samples were taken from the Sewa River from the region. Abnormally low water levels in the river exposed nine dykes in sandbars that act as giant natural riffles spanning the width of the riverbed, resulting in the concentration of heavy minerals such as gold and diamonds.
The samples were taken under the Sewa River Exploration License sampling program; the diamond grade was confirmed by the Geological Survey of Sierra Leone. The 10 stones included seven white and pale gold colored stones and three coated stones.
“Despite a slow start due to remoteness and lack of infrastructure, Cream management is very encouraged by these results due to their correlation with historic results and the size of the property,” said the company in the press release. “Plans are to expand fieldwork significantly after the rainy season.”
Cream Minerals made a request to the Mines Department to include gold in its permitted mineral recovery of the diamond exploration license after minerals such as garnet and flake gold were recovered.
Shares of Cream Minerals were priced at 47 cents per share on no volume earlier today. The company’s 52-week range is between 30 cents and 61 cents.
