VANCOUVER, April 4 /PRNewswire/ - Diamond Fields International Ltd. (TSX: DFI) ("DFI" or the "Company") is pleased to report preliminary gold assay results as part of a 43-101 resource statement being prepared for the Atlantis II property in the Red Sea that it is developing jointly with Manafa International. Cores 3M268, 3M338, 3M567 in the South West basin of the Atlantis II analyzed as part of the a due diligence study on cores originally sampled in the late 1970's have yielded consistent levels of gold mineralization over the sampling intervals, and are open at depth. Sample preparation and analyses were undertaken by Alex Knightly Laboratories in Alaska by AAS. Core 3M268, with a total penetration of 12.68 metres, intersects significant gold mineralization within the upper amorphous silicate zone (SAM) through to the Central Oxidic (CO) zone of the upper unit, averaging 1.825 g/t DSF (Dry Salt Free) over 8 metres (Table 1). Core 3M338, which penetrates the upper 7.87 metres of Unit A averages 1.71 g/t gold (DSF) over the penetrated interval, whilst core 3M567, with a total depth of 10.41 metres, recovered 6.41 metres of the lower horizons of the Upper Unit (Unit A), with an average gold value of 1.64 g/t gold (DSF).
Table 1. Gold values over sample intervals for Cores 3M268, 3M338, 3 M567.
|7||8||1.81||Open at Depth||1.69|
|9||10||Open at depth||2.59|
|Open at Depth|
*CL - Core Loss
To date, the highest recorded gold value analyzed contains 2.76 g/t Au (DSF) (core 3M350).
The gold values are significantly higher than previously inferred from floatation analyses (0.5 g/t Au DSF) by Preussag for the historical resource estimate on the deposit. The presence of elevated gold values within the South West Basin of the Atlantis II Deeps, together with other geochemical and mineralogical data indicates the close proximity of an (palaeo) exhalative vent in the South West basin, where high grade mineralization within the sedimentary pile may be present. As part of its resource development program on the deposit, the Company has defined preliminary potential target areas of vent locations to core in its upcoming resource development program.
Gold is part of a 30 mineral suite being assayed as part of a 43-101 resource statement being prepared, and is in addition to zinc, copper and silver already known to be present in the deposit (see DFI press release of June 4, 2010).
Commenting on the results, DFI's President and CEO, Ian Ransome said, "Obviously the gold results are encouraging. The presence of elevated gold values and the possibility of locating high-grade mineralization open at depth within the South West Basin just adds further potential value to the deposit."
Information of a scientific or technical nature contained in this release has been prepared and reviewed by Ian Ransome, Pri, Nat. Sci. Chief Executive Officer, who constitutes a "qualified person" within the terms of National Instrument 43-101 regulations.
DIAMOND FIELDS INTERNATIONAL LTD.
Wayne Malouf, Chairman
Ian Ransome, Chief Executive Officer
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, except as otherwise required by law.
SOURCE Diamond Fields International Ltd.