FIVE STAR DIAMONDS LIMITED Av. Jornalista Ricardo Marinho, 360 Ed. Cosmopolitan -‐‑ Sala 113, CEP 22631-‐‑350 Barra da Tijuca -‐‑ Rio de Janeiro Brazil
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TSX-‐‑V STAR
Market Release
8 June 2017
FIVE STAR DIAMONDS
LIMITED
Av. Jornalista Ricardo Marinho, 360
Ed. Cosmopolitan -‐‑ Sala 113,
CEP 22631-‐‑350
Barra da Tijuca -‐‑ Rio de Janeiro
Brazil
Tel: +55 8 9200 6264
Contact:
Joe Burke, GM Marketing
Directors / Officers:
Matthew Wood
Luis Azevedo
Brian McMaster
Gizman Abbas
Simon Rothschild
Nicholas Pike
TSXV: STAR
DRILLING COMMENCES AT
JAIBARAS DIAMOND PROJECT
Toronto, ON -‐‑ Five Star Diamonds Limited (TSXV: STAR) (the
“Company” or “Five Star Diamonds”) is very pleased to announce that
the previously announced drilling programme at the Company’s 100%
owned Jaibaras Diamond Project (the “Jaibaras Project” or “the
Project”) in Para State, in northern Brazil, has commenced.
Jaibaras Diamond Drilling Programme
To date eight kimberlite targets, J1 to J8, have been identified at the
Jaibaras Project and the drilling programme will focus on kimberlite
targets J1 and J2.
Diamond core drilling commenced on J1 kimberlite and hole JAI-‐‑DDH-‐‑
001-‐‑17 is currently in progress.
The programme will use shallow vertical drill holes located on a 50 x
50m drill grid defined by the ground magnetic results. The key
objective of the programme is to cross cut the oxide weathered zone
and penetrate approximately 5 metres within the fresh rock, which will
allow the Company to delineate the lateral boundaries of the pipe and
the vertical depth of the oxide weathered zone. This will then provide
the necessary data to conduct a tonnage estimation of the J1 oxide
zone. A total of 30 diamond drill holes are planned at the J1 kimberlite.
A nearly identical programme is planned on the J2 kimberlite and this
will commence immediately after the drilling is completed on the J1
kimberlite.
The complete programme for both J1 and J2 kimberlites is planned to
comprise of 61 drill holes with a total of 2,500 linear metres. It is
estimated that this programme with be completed in the next 45 days.
The drilling programme is being conducted by Geosol -‐‑ Geologia e
Sondagens S/A (“Geosol”), a drilling company based in Belo Horizonte,
Brazil. Geosol has one drilling rig MAC-‐‑320 operating on the Project. A
second MAC-‐‑320 drilling rig is currently being mobilised and will
arrive at the Project in the coming days.
Logging, recovery control and drill hole location are being conducted
by the Five Star Diamonds exploration crew.
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About the Jaibaras Diamond Project
The Jaibaras Diamond Project is located in Para State in Brazil and comprises one mineral
property with 522.26 hectares. De Beers discovered the Jaibaras kimberlite cluster in
1990 during intensive Brazilian exploration. Their work included sampling for Kimberlite
Indicator Minerals (“KIMs”) and chemistry, aeromagnetic and ground magnetic surveys,
drilling, trenching, microdiamond sampling and geochronology. The kimberlites were
demonstrated to be diamond positive.
MAC-‐‑320 Diamond Core Drill Rig at Jaibaras Diamond Project
An auger drilling evaluation programme has recently been completed at J5. The
programme comprised seven auger holes for a total of 86.80 linear metres with five of
the seven holes intersecting a kimberlitic pipe. Auger samples are being washed and
concentrated for a KIM study
Auger drilling has now been completed on targets J3 to J5 and an auger drilling
programme is currently been undertaken on target J6.
The auger drilling evaluation programme will then continue with testing of the J7 and J8
targets.
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Eight targets have been identified at the Jaibaras Project
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About Five Star Diamonds
The Company recently listed on the TSX Venture Exchange under the ticker symbol STAR.
Five Star Diamonds is focused on acquiring and developing advanced staged diamond
projects in Brazil. Since it was established, it has pursued an accelerated growth strategy
and aims to be one of the first producers of diamonds from kimberlite deposits in Brazil.
The Company is focused on the development of sustainable kimberlite pipes and is not
involved in alluvial diamond mining with its associated environmental issues. The
Company works closely with local, state and federal authorities in Brazil to foster an open,
transparent and legal diamond industry in Brazil.
Five Star Diamond’s Project Locations
Qualified Person
Mr Paulo Ilídio de Brito
BSc Geology
Mr. Paulo de Brito is a geologist based in Brazil, has over 30 years of experience in the
mining industry, dealing primarily with gold, copper, nickel, iron, industrial minerals and
more recently diamonds. Mr. Brito is a Principal of consulting group Brasgeo and was
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until recently Exploration Manager of Paringa Resources Limited. Previously, he worked
as a senior geologist with WMC Resources Ltd for 18 years until the closure of their
activities in Brazil in 2002.
The exploration activities and their related results included in this announcement were
directly supervised and managed by Mr. Brito. According to Mr. Brito, all exploration
work carried out to date on the Riachao Project follow clear mining industry standards.
Mr. Brito, a member of AIG (Australian Institute of Geoscientists) and a member of
AusIMM (The Minerals Institute) and a Qualified Person as defined in National
Instrument 43-‐‑101. Mr. Brito reviewed and approved the scientific and technical
information contained in this press release.
On behalf of the Board
Five Star Diamonds Limited
Matthew Wood
Chairman of the Board, President and CEO
Cautionary Note Regarding Forward-‐‑looking statements
Information set forth in this news release contains forward-‐‑looking statements. Although the Company believes that
such statements are reasonable, it can give no assurance that such expectations will prove to be correct. The Company
cautions investors that any forward-‐‑looking statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those in forward looking statements as a result of
various factors, many of which are beyond the Company’s control. Such factors include, among other things: variations
in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the
market price of any minerals produced, the Company’s inability to obtain any necessary permits, consents or
authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue
its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. Accordingly,
actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward-‐‑looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise forward-‐‑looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please contact:
Five Star Diamonds Limited
Joe Burke, GM Marketing
Rajan “Raj” Rai
+1 778 835 9200