Co-operation agreement signed: Five Star Diamonds and I.Henning

Mining and Exploration
13/09/2017 10:19

Five Star Diamonds, a Canadian mining company listed on the TSX Venture Exchange, signed a co-operation agreement with I.Henning, the world’s leading international diamond broking and consulting group. Five star is making significant progress on its kimberlite drilling program at its 100% owned Jaibaras Diamond Project in Para State, Brazil.

“They [Henning] will assist Five Star in navigating the diamond value chain whilst building our brand in global markets. Brazil represents an exceptional opportunity in the diamond space which has limited opportunity for growth and a dearth of new projects coming on stream,” said Five Star Diamonds’ Chairman and CEO Matthew Wood. The agreement includes Five Star’s induction to the diamond industry and the development of their brand, as well as enhancing their ability to build customer relationships and create a marketing plan. “Hennig is pleased to provide diamond industry knowhow to Five Star and to usher its inauguration and prospective growth in our market,” said Hennig CEO Arik Sela said. “Hennig has always seen itself as a torchbearer for innovation and transformation. We are happy to continue this tradition with our newly announced cooperation with Five Star.”

In August the company successfully completed its initial diamond drilling and bulk sampling program at the Jaibaras Diamond Project. Diamond core drilling focused on the J1, J2 and J4 kimberlite pipes. A total of 23 mini-bulk samples are to be collected from the drilling program which successfully intersected kimberlite rock. Once collected this will assist the Company in creating a tonnage estimate on the pipes drilled.