Shipshaw Carbonatite Exploration Campaign
MONTREAL, QUEBEC, CANADA - DIOS EXPLORATION approved a major exploration budget of some one million dollars
planned for this year on its wholly-owned niobium and rare earths Shipshaw Carbonatite Complex, a
few kilometers away from the Niobec
mine in operation for over thirthy years within the
Saint-Honor� Carbonatite
Complex.
A
20 hole drill program was recently completed by DIOS
this spring and a last hole for this first definition phase had to be delayed
due to the spring break-up, but should be undertaken in 4-6 weeks. A
total of 4,340 meters
of core was recovered in order to better assess the niobium (and rare earths)
potential of the carbonatite complex to a depth of
125-150 m
through systematic drilling of
the magnetic intrusive rims surrounding the rare-earth enriched carbonatite core (initial discovery). The fifty
degree dipping holes measure from 175 to 250-275
m. The Niobec mine is
located 300 feet
(90 m) at
vertical depth from surface, covered by 240
feet of Trenton
limestone, and developments now reach 2,400
feet.
DIOS' drilling intercepted the carbonatite
complex in all holes consisting of heterogeneous
material. Detailed core logging of various alternating complex layers was
completed last Thursday and the core should all be splitted
in two and sent for assaying in the coming days. Pending results,
drilling at depth could be considered.
The 2011 summer-fall program should include, in addition
to the delayed hole planned once ground is dry: additional magnetic airborne
survey on DIOS claims located in the NE rims of the carbonatite complex as well as on the NW anomaly;
-systematic diamond-drilling (20-30 holes for 4,000
m) of other magnetic rim targets (7-9) defined by
geophysics on DIOS' 276 claims surrounding the Niobec
mine; - additional
mapping-prospecting along streams, rivers and various geophysical targets.
A carbonatite outcrop was surprisingly
discovered last fall on the property, showing different episodes of carbonatite intrusives
DIOS' exploration work is about at the same stage it was
at Niobec, a few months after discovery of the Saint-Honor� Carbonatite, which was
discovered around 1967, a
discovery initially made from its (rare-earth carbonatite)
core system near surface, and later with the following drilling over 3-4 years
was discovered the niobium zone and later the development of economic zones
brought the mine into production around 1976. Ferro-niobium milling
facilities
were built over 15 years ago. Niobium
is used in the making of specific alloys used in the aerospace industry, for
instance. Ferro-niobium is an added value product more directly in demand
than niobium.
DIOS has a 3.2 M$ working capital and some 38.4 million shares and no
warrants outstanding. This press release was prepared by M.-J.
Girard, 43-101 QP.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contact :
Marie-Jose Girard, President & CEO
mjgirard@diosexplo.com
Tel. :
(514) 483-5149
Fax : (514) 510-7964
Website : www.diosexplo.com