In the most recent geological report for property 231, the Brazilian Mining Corporation announced the discovery of a diamondiferous kimberlite.  A satellite remote sensing study used in advanced multi-spectral diamond exploration has found several kimberlites containing diamonds in this part of the Sao Luis River Basin diamond venture. 

The Sao Luis River Basin territory consists of two properties totaling 6,863 acres.  This is located in Mato Grasso, near the town of Juina in Brazil. 

The first property, consisting of 4,666 acres, began diamond mining in 2000.  So far, over 175,000 carats have been produced.  In 2004 and 2005, the National Department of Mineral Production documented 119,334 carats.  The second property of 2,197 acres abuts the first area of exploration.  Mining began there in 2006.

Originally, property 231 in the Sao Luis River Basin project was given a value of $300 million.  However, the newly-discovered diamondiferous kimberlites were not included in this, and could push the value of the project up exponentially.  The report did not include any sub-surface diamonds at much lower depths, or even in the secondary alluvial gravels just below the surface.  The report also did not consider the quality or size of possible stones.  Several gems valued at as much as $500,000 per stone have been discovered in the Juina region. 

The Brazilian Mining Corporation plans to aggressively cultivate these newly-found kimberlites, tapping into perhaps hundreds of millions of dollars worth of rough diamonds.

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