Business
Diamond Fields International Ltd. - Atlantis II Zinc, Copper and Silver Deposit Update
Diamond Fields International Ltd. - Atlantis II Zinc, Copper and Silver Deposit Update
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\n Aug. 16, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nSYMBOL: DFI\n\nVANCOUVER, Aug. 16 /CNW/ - Diamond Fields International Ltd.(DFI:TSX) ("DFI" or the "Company") is pleased to provide a further update on the Atlantis II Red Sea Deeps project, widely acknowledged as the largest known poly-metallic marine SEDEX deposit in the world (see DFI press release dated 4th June 2010). DFI is developing the project with its Saudi joint venture partner Manafa International.\nThe Atlantis II basin containing the Atlantis II deposit is located in the Red Sea, approximately 115 km west of Jeddah. The Atlantis basin is comprised of four interlinked sub-basins lying approximately 2,000 meters below sea level. Base and precious metal mineralisation contained within the sediments have attracted considerable exploration interest since their discovery in 1965. It is estimated that more than US $28 million (in 1970's dollars) was spent on exploring the deposit. The historical work has shown the economic potential of the deposit by evidencing extensive and continuous mineralisation of zinc, copper, silver, gold, lead, and other metals.\nIn the mid 1970's, the Saudi-Sudanese Red Sea Commission (RSC) was established with the directive of assessing the economic potential of these resources. Preussag A.G., a German exploration company, was commissioned by the RSC to conduct a five-year geological exploration program and technical feasibility study. This process concluded in 1982 with positive results. Together with Manafa, DFI has obtained the documented records and hard data generated during the study, and have located the original Preussag sediment cores. DFI is analyzing the data and modelling the deposit using the latest technology, and otherwise moving forward with the preliminary steps necessary to develop the project.\nThe Preussag coring program on average sampled only the uppermost 8.5 metres of the sedimentary sequence...