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Talmora Diamond Announces Option Agreement
TORONTO, July 06, 2018 (GLOBE NEWSWIRE) -- Talmora Diamond Inc. (CSE:TAI) (“Talmora” or the “Company”) is pleased to announce that it has signed an Option Agree
About this update from Talmora Diamond, Inc.
[{"type":"text","content":" TORONTO, July 06, 2018 (GLOBE NEWSWIRE) -- Talmora Diamond Inc. (CSE:TAI) (“Talmora” or the “Company”) is pleased to announce that it has signed an Option Agreement granting Olivut Resources Ltd. (“Olivut”) the right to earn a 50% interest in Talmora’s Horton Project, located in the Inuvialuit Settlement Region of Canada’s Northwest Territories, by spending $1,200,000 over two years and making a $200,000 payment to Talmora. The Horton Project includes magnetic targets previously sampled by Talmora and a newly acquired Prospecting Permit covering a large magnetic anomaly at the focus of a kimberlite indicator mineral and ICP pathfinder element train recently identified in government assessment report records. Olivut is the operator with experience drilling kimberlites on its HOAM project. A summer field season of helimag and follow-up drilling is planned to test multiple targets over the next several months. The Company believes the Horton Project area could be the source of the numerous (18) macro diamonds found in regional samples as well as the positive indicator mineral chemistry found regionally. The helimag survey will provide additional detail for drilling. Although Talmora has been active in the area, it has not been able to conduct meaningful exploration on the Horton Project due to a lack of funding during a prolonged negative market environment. New research and geological information has added further support to a very compelling exploration project. Talmora will retain a 100% interest and will independently explore two adjoining Prospecting permits and a number of claims on which very little work has been done. The scientific and technical portions of this news release were compiled, reviewed and approved by Alan W. Davies, P.Eng., P.G., who is the Vice-President of Exploration for Talmora Diamond Inc., a \"qualified person\" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. For further information please contact: Raymond Davies, President & CEO Talmora Diamond Inc. Email: [email protected] Telephone 416-491-6771 CAUTIONARY STATEMENTNo stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain \"for...