China Diamond Corp. is a junior resource company engaged in the mining, exploration and advancement of diamond and gold prospects.
The company's principal operation is the 701 Changma Diamond Mine. This project is a low cost, lower risk asset that has produced 1.16 million carats (at a bottom size cutoff of 0.2mm) from 1.51 million tonnes of processed ore during open pit mining from 1970 to the end of June 2002. Underground mining commenced in July 2002, and to the end of 2005 has produced 217,400 carats (at a bottom size cutoff of 1.0mm) from 311,500 tonnes of processed ore.
The company has an aggressive exploration program in place, using its experience to identify some of the best opportunities in the country. China Diamond controls an impressive exploration portfolio in the neighbouring 702 and 703 diamond properties. China Diamond also has a strategic alliance with the Shandong Physical Exploration Institute ("SPEI") to explore the Huixian gold and copper property, located in Zouping County, Shandong Province. The Company signed Joint Venture Contracts in 2005 with Shandong Dacheng Mining Co. Ltd., to explore 12 potential gold properties located in the Jiaodong Peninsula, Shandong Province. The Company has also signed a Joint Venture Agreement with the SPEI to commence exploration on three gold properties in Jiaodong Peninsula.
China Diamond has a new and experienced team that is focused on maximizing shareholder value. Expert engineers and geologists are now based in China overseeing mining and exploration.
China Diamond is building value for its shareholders by bringing new efficiencies to the existing operations, advancing its exploration properties and building on its significant competitive position in China to add to the portfolio.
