NEW YORK, Dec. 2 /PRNewswire/ - Diamond Discoveries International Corp. (DMDD:PK), a U.S. company focusing on chromium, platinum group elements(PGE) and gold exploration on it's 100% owned Caribou Property in Thetford Mines, Quebec, Canada is pleased to announce the acquisition of an additional 41 mineral claims totaling 2,460 hectares on the northeast corner of the existing property adjacent to Nevado Ventures (TSX-V:VDO) and less than 2 miles from Bowmore Exploration Limited (TSX-V:BOW).This acquisition brings the total land package to 143 claims representing 6,236 hectares.
A press release issued on October 12, 2010 by Bowmore Exploration Limited (TSX-V:BOW) titled, Bowmore Outlines Broad Gold Anomalies in Southern Quebec, stated that their "Exploration program initiated in late 2009, that targeted the belt for near-surface, bulk tonnage, sediment hosted deposits of similar type as Kinross' Paracatu mine in Brazil (reserves of 1,430 million tons grading 0.40 g/t Au for 18 million ounces gold),or the Russian Sukhoi Log deposit, containing total unclassified resources of approximately 48 million ounces gold grading 2 g/t Au."
Diamond Discoveries plans to continue on its exploration program that it commenced in 2008 that resulted in high chromium values in multiple areas. Six(6) samples from the American Chrome Junior Showing returned composite assays of 10.72%Cr203 over 5 meters and .4g/t PGE (platinum, palladium and rhodium).This composite included a 1 meter grading of 21.47% of Cr203 and .5g/t PGE.
In addition to chromium the Company also has gold discovery potential on its Caribou Property. One grab sample returned grade of 12,3 g/t Gold and 60g/t Silver and 2.9% Copper on the northeast part of the property(GM 22358 Assessment Report from MRNF).
Plans for 2010-2011 include additional surface sampling and phase one drilling of 3-5 targets totaling 1-2,000 meters for chromium values and 3-5 targets totaling 1-2,000 meters for gold values.
Thetford Mines and the Southern Quebec Appalachian Belt have a century long history of mining and are known for their numerous chromite, asbestos and copper deposits. The region was the site of Canada's first placer gold rush on the 1850's, decades before the Klondike in the Yukon.
"The recent announcement by Bowmore Exploration confirms the gold potential in the Southern Quebec Appalachians," said Antonio Sciacca CEO of DMDD, "Even though chromium is still our main focus, we are excited that the area has turned into a major gold play target led by Bowmore."
The Company is also pleased to announce that it has retained the services of Mr. Martin R De Bono as its VP of Corporate Development and Investor Relations. Mr DeBono has been in the Financial Services industry for over 25 years focusing on high net-worth individuals and families.
The technical content of this press release has been reviewed and approved by Bertrand Brassard, P.Geo., a Qualified Person under the quidelines of National Instrument 43-101
About Diamond Discoveries International Corp.
Diamond Discoveries International Corp. is a U.S. exploration company with executive offices in New York, NY and Burlington, Ontario. Since inception it has been focused on diamonds, chromium, PGE (platinum, palladium and rhodium) and gold. In June of 2008 the company received a NI 43-101 technical report on its Caribou Property, Thetford Mines, Quebec.
For further information on Diamond Discoveries, visit http//www.diamonddiscoveries.com/.
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involves risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in company filings with U.S. securities regulatory authorities.
Diamond Discoveries International Corp.
Martin R De Bono
VP of Corporate Development/Investor Relations
SOURCE Diamond Discoveries International Corp.