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Re: News Release - Thursday, November 08, 2007
Weiland Project Update
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Vancouver, B.C. -- Diamondex Resources Ltd. (DSP-TSX.V) ("Diamondex")
is pleased to announce that the Weiland Joint Venture has approved a
$1.8 Million 2008 winter exploration program which will include ground
geophysical surveying, the drill testing of 40 high priority magnetic
targets and the acquisition of 3,600 line kilometres of low-level
high-resolution airborne magnetic data. (See www.diamondex.net for
project location and details).
The Weiland Project is located in the Kyle Lake kimberlite cluster area
of the James Bay Lowlands of Northern Ontario, approximately 120
kilometres west of De Beers' Victor pipe and in the vicinity of the
Noront Resources nickel-copper-PGM massive sulphide discovery. The
property is held under a 40:60 joint venture with De Beers Canada Inc.
with Diamondex as Operator. De Beers has elected not to participate in
this upcoming winter program and its joint venture interest will be
diluted accordingly.
The interpretation of 56,500 line kilometres of low-level
high-resolution airborne magnetic surveys previously flown by the joint
venture on 100 metre-spaced lines resulted in the staking of 98 claims
covering 100 magnetic anomalies.
Two proprietary light-weight reverse circulation drills have been
contracted to drill test the 40 magnetic targets and preparations for
the upcoming winter ground geophysical program are underway. It is
anticipated that the 2008 winter program will commence in mid-February.
Mr. Raymond Ashley, P.Geoph. Vice President of Exploration for
Diamondex is a Qualified Person as defined by National Instrument
43-101 and has reviewed and approved the content of this press release.
DIAMONDEX RESOURCES LTD.
"Randy C. Turner"
Randy C. Turner, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
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Copyright (c) 2007 DIAMONDEX RESOURCES LTD. (DSP) All rights reserved.
For more information visit our website at http://www.diamondex.net/ or
send mailto:diamonds@diamondex.net
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