SYMBOL: DFI
CAPE TOWN, March 8 /CNW/ - Diamond Fields International Ltd. (TSX: DFI)
("DFI" or the "Company") is pleased to report important progress on its
diamond and gold exploration in Liberia.
Diamond Exploration:
DFI geologists have discovered kimberlite outcrop in a second target
area. The kimberlite was recovered from a swampy area measuring over 50m
across and extending over a kilometer along strike. The area has been
previously identified as the Camp Alpha Dyke trend and has been targeted by
artisanal miners. Additional indicator mineral anomalies coincident with
recessive swamps have been identified in three other locations on this grid. A
ground geophysical survey will be completed over these targets pre-drilling to
confirm dimensions and grades.
At the initial kimberlite discovery announced in a press release dated
January 9th, 2006, now called Bravo 1, mapping has discovered a second
kimberlite outcrop in a swamp now estimated to be in excess of 6 hectares in
area. The kimberlite is hosted in a coarse grained granodiorite gneiss and
appears to enclose a large block of the host rock in its center. A second
swampy area adjacent to this target is also generating G10 garnets from pit
samples. This target, called Bravo 2 is within 100m of Bravo 1 and the
recessive area it occupies measures approximately 4 hectares.
100kg samples of weathered kimberlite were recovered from both the Dyke
trend and the Bravo target. These samples were sieved into three size
fractions and are being analyzed for diamonds in DFI's newly established
sample processing facility in Monrovia.
Stream sediment reconnaissance sampling continues to generate kimberlite
indicator minerals in areas to the west of the Camp Alpha and Bravo clusters,
indicating that DFI has at least 4 clusters of kimberlite anomalies containing
a number of individual targets.
Gold Exploration:
Within the Camp Alpha property artisinal gold mining has begun in 4 areas
surrounding the Henry Town mining center. Free gold is present in cross
cutting quartz veins and in silicified fuchsite, tremolite schists and appears
to be associated with a period of deformation generating overturned folds and
kink bands in the precursor granodiorite gneiss. Gold is being recovered from
deeply weathered regolith and by crushing the host quartz and schist where it
is most friable.
DFI stream sediment reconnaissance indicates that gold anomalies are much
more pervasive than current mining would indicate. The company plans further
reconnaissance as well as detailed mapping around current workings to generate
targets for drilling.
M reconnaissance samples are jigged in the field to create
approximately 1 kg of heavy mineral concentrate, sieved and analysed in DFI's
sample processing facility in Monrovia with selected high interest grains
being sent to Nexo Labs in South Africa (ISO14001 accreditation has been
applied for) for confirmation. Selected indicator minerals are microprobed at
the analytical facility of the University of Johannesburg (a merger between
Rand Afrikaans University and Wits University). Gold samples are sieved and
dewatered in the field then dried and re-sieved into three fractions and
analyzed for visible gold (VG) at DFI's sample processing facility in
Monrovia. The fine fraction of samples that do not contain VG are sent to
Anglo American Research Labs in South Africa for Fire Assay and ICP analysis.
Results of the sampling programs have been reviewed, verified (including
sampling, analytical and test data) and compiled by the Diamond Fields'
geological staff supervised by Mr. Randal Cullen, P.Geol., a "Qualified
Person" as indicated under NI 43-101.
Diamond Fields International Ltd. and Moydow Mines International Inc.
(TSX: MOY) (AIM: MOY) ("Moydow") announced in press releases dated March 1,
2006 that they had reached an agreement effective February 28th, 2006 (the
"Agreement") pursuant to which Moydow security holders will exchange their
Moydow securities for securities of Diamond Fields (the "Acquisition"). The
Acquisition is subject to various conditions as previously announced. Moydow,
like Diamond Fields, is engaged in mineral exploration and development
worldwide.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and Chief Executive Officer
Forward-Looking Statements:
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in Diamond Fields' periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Diamond Fields does not assume the obligation to update any forward-looking
statement.
