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Canada : Diamond Fields updates Liberian joint venture properties
August 8, 2006 |  |
Diamond Fields International Ltd is pleased to report on continuing reconnaissance and development success on its Liberian joint venture properties and also provides updates on other operating corporate matters.
In Liberia nine kimberlite targets have been generated with 75 percent of the reconnaissance sampling completed. Two targets are pipe-like bodies, three are inferred dyke trends in excess of 500 m long. Ground magnetic anomalies are present, coincident with interpreted kimberlite pipes and dykes on the three targets surveyed. The Company is investigating the possibility of mobilizing a diamond recovery plant to Liberia to facilitate bulk sampling of kimberlites for grade. One kilometer long by 500m wide sampling grids over high grade gold anomalies have been completed on both Grand Cape and Grand Gedeh properties. Results are anticipated by the end of August. Field work has been suspended until the end of the rains in mid September.
Liberian Diamond Exploration
After follow up sampling on kimberlite targets generated by stream sediment reconnaissance work, DFI has nine areas requiring further development work. Of these, the Company has advanced to mapping, grid sampling, and pitting(1) on five areas, with ground geophysics completed on three. Magnetic response indicative of kimberlite is present on all three of these, confirming the presence of two pipe-like bodies on Grid 4 and a dyke trend in excess of 500m long on Grid 3. Macro-diamonds (0.05 cts, 0.08 cts and 0.22 cts) have been recovered during grid sampling and pitting of a fourth 3 km long dyke target on Grid 5.
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