Diamond Core - Initial exploration results from the Skeyfontein project
Diamond Core Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013468/06)
Share code: DMR ISN Number: ZAE000045688
(`Diamond Core` or `the company`)
Initial exploration results from the Skeyfontein project
Diamond Core is pleased to announce positive results from chemical probe
analysis conducted on samples collected from a kimberlite outcrop on the
Skeyfontein project.
The Skeyfontein project is situated near Postmasburg in the Northern Cape
Province. The project is jointly owned by Diamond Core and the Skeyfontein
Communal Property Association through Dikeing Mining (Pty) Limited.
Exploration on Skeyfontein is being undertaken for Diamond Core by its
geological contractors, MSA Geoservices. The program to date has included an
aerial photographic interpretation and stream sediment sampling which have
indicated a number of anomalies and have led to the rediscovery of a kimberlite
outcrop (SKY 1).
Two 8 kilogram samples were taken from SKY 1 for chemical analyses of the
mineral grains using an electron microprobe. (These analyses are used to test
whether or not the kimberlite sampled areas in the earth`s mantle that contained
diamonds. The purpose of this is to gain an indication of the prospectivity or
diamond potential of the kimberlite).
MSA Geoservices has reported that the mineral chemistry of garnets and chromites
from SKY 1 indicates that this kimberlite has sampled diamond bearing source
rocks and that it has a high potential to contain diamonds.
Future detailed exploration will now concentrate on determining the extent of
the kimberlite prior to designing a drilling program to intersect fresh
kimberlite at depth. Grid sampling and geophysics will also be undertaken over
the area surrounding the outcrop. Future analytical studies may include
microdiamond and petrographic work.
All exploration activities undertaken by Diamond Core are designed and
supervised by a Competent Person as defined in the SAMREC Code. In particular,
the exploration work as well as interpretation of the analyses of samples taken
on the Skeyfontein project are being undertaken by MSA Geoservices and are being
supervised by a Competent Person. MSA Geoservices has approved this release.
Legal Disclaimer:
All statements in this release, other than historical facts, that address
exploration activities and mining potential are forward-looking statements.
Although the company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements should not in
any way be construed as guarantees of future performance. Factors that could
cause developments to differ materially from those expressed include exploration
results, technical analysis and the lack of availability to the company of
necessary capital on acceptable terms. The company is subject to the specific
risks inherent in the exploration and mining business as well as general
economic and business conditions.
Diamond Core enquiries:
Diamond Core is a South African-based diamond exploration and mining company
which is listed on the JSE Securities Exchange South Africa. It has another
diamond project in the Northern Cape Province on the farm Paardeberg East and is
in negotiations with the Samadi Group to acquire additional exploration areas,
also in the Northern Cape. Enquiries can be addressed to:
Managing Director: Theo Botoulas +27 11 325 5750
Investor and media relations: James Allan +27 11 575 3420 / +27 82 565 4507
Corporate advisor and sponsor: QuestCo (Pty) Limited
Geological contractors: MSA Geoservices
Website: www.diamondcore.co.za
28 February 2005
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
