SYMBOL: DFI
VANCOUVER, Dec. 16 /CNW/ - Diamond Fields International Ltd. (TSX:DFI)
("DFI" or the "Company") is pleased to announce initiatives to ramp up the
Company's exploration for high grade gold and primary diamond deposits in
Liberia and progress on the marine diamond mining project in Namibia.
DFI is working in Liberia on diamond and gold concessions covering more
than 181,000 hectares of prospective Archean and Proterozoic aged terrains.
Positive results from development work, including grid sampling and pitting on
the diamond and gold prospects, have encouraged the Company's Board to approve
an increased level of spending on the advancement of the Liberian prospects.
Targets include diamondiferous kimberlite in western Liberia (the Camp Alpha
prospect) and two high grade gold deposits (Henry Town in western Liberia and
Barteajam in eastern Liberia). All the prospects are the subject of artisanal
workings indicating the presence of diamonds and coarse gold. DFI intends to
identify the bedrock sources of these minerals.
Results from laboratory analysis are expected before year end for grid
and pit sampling of a 3km long kimberlite dyke target and a 3 hectare
kimberlite pipe target. These are the first 2 of 8 high priority kimberlite
targets discovered during the first round of reconnaissance sampling on the
Grand Cape property.
Both gold targets (Barteajam and Henry Town) are being explored with grid
soil, and stream sediment sampling. On Barteajam a 3km by 500m grid has been
sampled over the largest area of artisanal working in order to generate drill
targets. On the Henry Town prospect soil samples are being collected along and
across strike from known showings. Additional targets for both diamonds and
gold are expected to be generated by ongoing reconnaissance sampling that has
to date covered less than 25% of the concession area around the aforementioned
development prospects.
The Company's marine diamond project in Namibia has moved to a new phase
of resource development. Previous sampling by BHP and DeBeers Marine defined
the Reef Edge deposit, which extends for more than 7 km along the inland side
of Diaz Reef in water depths between 45m and 60m and hosts a larger average
diamond size than Marshall Fork. The DF Discoverer mining vessel is currently
mining trenches across the mineralized area to pursue additional areas of high
grade material and improve the resource/reserve base of the marine diamond
project.
Mr. Randal Cullen, P.Geol., Chief Geologist for Diamond Fields
International is a Qualified Person as defined by National Instrument 43-101
and is responsible for program design and quality control of exploration
undertaken by Diamond Fields.
Diamond Fields International Ltd. is an internationally active
exploration and mining company pursuing mineral exploration opportunities
worldwide. The Company's corporate strategy is to maximize cash flow from its
Namibian marine diamond concessions and systematically explore and develop its
international mineral exploration projects. In addition, the Company continues
to explore opportunities to acquire new economic mineral projects worldwide.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger Daniel"
Roger 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.
