DIECI Consortium Collections Focusing 'Made in Italy'

DIECI is a consortium among private firms of small and medium sizes, which actually operates only in the goldsmith's sector.

Post By : Journal of Gem and Jewellery Industry On 15 September 2005 12:00 AM
MAJESCOR Resources Inc. has signed an agreement with DeBeers Canada giving Majescor an option on DeBeers Baker Lake project located in the eastern Arctic area of Nunavut. Majescor is Montreal-based exploration Company with a large portfolio of diamond properties in Quebec, as well as projects in Nunavut, the Northwest Territories, Brazil and Madagascar. The project has both diamond and uranium potential and the agreement provides for separate options for the two commodities, said Majescor in a press release.
De Beers has advised Majescor that it is abandoning the strategic alliance with Majescor in northern and central Madagascar in view of De Beers’ commitments elsewhere in Africa. Majescor retains a 100% ownership of this large land package in Africa and all indicators minerals-supported. “The kimberlites recently discovered by Majescor in Madagascar are located outside of the area of interest of the agreement with DeBeers, on ground held in partnership with Madagascar Mining Development,” clarified Majescor.
The terms of the agreement for diamonds specify that DeBeers and Majescor will form a 50-50 joint venture once Majescor has solely funded $1.2 million in exploration by December 31, 2008. “The Baker Lake project has a great potential for both diamond and uranium and we are most fortunate that the large land package was assembled by DeBeers in the promising Thelon Basin area before the current uranium rush began last year. We intend to spin-off or option the uranium project and concentrate on the diamond asset," said Andre Audet, CEO and chairman, Majescor. The land package under option to Majescor consists of 51 mineral permits covering over 9,000 square kilometers. Thirteen of the permits have been set aside for uranium exploration and the rest for diamond discoveries.

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