TORONTO
DFI.TO
0,03 CA$
-40,00%
' Joint Venture Company Granted Mining License over World Class Zinc, Copper, Silver and Gold Projec
Publié le 04 juin 2010
=======================================================================
Re: News Releases - Friday, June 04, 2010
Diamond Fields' Joint Venture Company Granted Mining License over
World Class Zinc, Copper, Silver and Gold Project
=======================================================================
Vancouver, Canada, and Jeddah, Saudi Arabia, June 4, 2010: Diamond
Fields International Ltd. (DFI:TSX) (DFI or the Company) is pleased to
announce that its joint venture partner, Manafa International Trade
Company of Saudi Arabia (Manafa) has been granted an exclusive mining
license for a period of 30 years, extending over the Atlantis II Deeps,
one of the largest hydrothermal polymetallic deposits in the world,
located within the Red Sea.
Pursuant to the terms of the joint venture agreement with Manafa, DFI
owns 50.1% of the venture and Manafa owns 49.9%. The project will be
developed in defined stages, commencing with a Scoping Study to start
immediately and designed to test the accuracy of the huge volume of
historic data available on the deposit.
The Atlantis II Deeps has a surface area of 60 square kilometers (23
square miles) and contains an extensive volume of metal enriched mud,
the consistency of soft toothpaste.
Extensive historical work has been conducted on the project, with a
total of 628 cores having been taken, with a total length of
approximately 4km. The bulk of the cores are in an excellent state of
preservation, which will enable Diamond Fields to produce a preliminary
NI 43-101 compliant resource statement for the deposit. Historical
exploration work undertaken by the former Preussag AG culminated in a
program to demonstrate the technical viability of mining the deposit
and processing it through to the production of metals. This was
accomplished through a maritime test pilot mining operation conducted
over a 4 month period from March to June 1979, and resulting in the
production of metals using hydrometallurgy. This work demonstrated that
the metal-rich sediments could be successfully raised from the sea
floor and processed. More than $70 million USD (in 1970's dollars) has
been spent to date in research work conducted on the deposit and funded
by the Government of Saudi Arabia.
The latest historic resource estimates (not NI 43-101 compliant) of
Atlantis II Deeps suggest tremendous economic potential with
approximately 1.83 million tonnes of zinc, 402,000 tonnes of copper,
3432 tonnes of silver contained within 89.5 million tones of ore (Dry
Salt Free).
Diamond Fields has reached agreement with David Heydon, former CEO of
Nautilus Minerals Inc., to spearhead development of this project (see
DFI press release of March 24, 2010).
Commenting on this significant project, Wayne Malouf, DFI's Chief
Executive Officer said "Diamond Fields is pleased to be teaming with
Manafa to develop this exceptional project and excited at the
opportunity to bring DFI's specialist marine mining expertise to bear
on this world-class deposit."
The geological and technical information in this press release has been
compiled and reviewed by Mr. I Ransome B.Sc. (Hons) Geology, UBO, Pri.
Sci. Nat. Mr. Ransome is the Chief Geologist for Diamond Fields, and is
a registered geological scientist with the South African Council for
Natural Scientific Professions (SACNASP) and is thus a Qualified Person
under NI 43-101 of the Canadian Securities Administrators.
DIAMOND FIELDS INTERNATIONAL LTD.
"Wayne Malouf"
Wayne Malouf, Chief Executive Officer
For further information, contact Wayne Malouf at + 1 604 685 9911
Website: www.diamondfields.com
The Company's Qualified Person has not done sufficient work to classify
the historical estimate as current mineral resources. Accordingly,
Diamond Fields is not treating the historical estimate as current
mineral resources, and the historical estimate should not be relied
upon.
Historical geological data for this Release came from the Atlantis 2
Red Sea data and reports generated by Pressaug AG and from the
following sources:
Blanc, and Anschutz, 1995. New stratification in the hydrothermal brine
system of the Atlantis II Deep, Red Sea. Geology.1995; 23: 543-546
Guney M., Nawab Z., and Mahoun N.A., 1984: Atlantis II Deep's Metal
Reserves and their Evaluation. OTC 4780, 16th Ann. Offshore Technology
Conf. Texas.
Herzig P.M., Holroyd, R. Hardman, M. Osmaston, J. A. Karson, R. S.
White and K. Rohr, 1999; Economic Potential of Sea-Floor Massive
Sulphide Deposits: Ancient and Modern [and Discussion]. The Royal
Society.
Herzig, P.M., Petersen S., and Hannington M.D., 2002: Polymetallic
Massive Sulphide deposits at the Sea Floor and their Resource
Potential. In Polymetallic Massive Sulphides and Cobalt-Rich
Ferromanganese Crust: Status and Prospects. International Seabed
Authority Tech. Rep. No. 2.
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.
=======================================================================
Copyright (c) 2010 DIAMOND FIELDS INTERNATIONAL LTD. (DFI) All rights
reserved. For more information visit our website at
http://www.diamondfields.com/ or send mailto:enquire@diamondfields.com
Message sent on Fri Jun 4, 2010 at 9:12:22 AM Pacific Time
=======================================================================
.
Les autres articles de la compagnie