Diamond Fields International Ltd. has expanded its Greenland mineral propertyholdings and has commenced exploration for nickel, copper and platinum group elements (PGE) deposits on properties located on both the east and west coasts of Greenland. Work in 2004 is budgeted at $750,000 (U.S.) and will target Voisey Bay-, Thompson- and Raglan-style mineralization in the Greenland extension of the Torngat and Trans Hudson Orgenic belts.
On the east coast, DFI’s Ammasalik project area has been expanded through a joint venture agreement with adjacent landholder NunaMinerals A/S which will allow DFI to earn an initial 65-per-cent interest for exploration expenditures of $1.7-million (U.S.) over three years at Diamond Fields’ option
The Ammassalik project now encompasses approximately 63,737 hectares prospective for komatiite-hosted nickel. Following the 2003 discovery of mineralization grading 1 per cent in nickel with copper, cobalt, PGE and gold, exploration in 2003 identified nickel-bearing boulders associated with extensive mafic volcanic horizons. Total strike length of these prospective horizons on the expanded Ammasalik claim area is over 40 kilometres. The 2004 program will consist of 2,000 line kilometres of airborne geophysical surveys collecting magnetic and electro-magnetic data with follow-up sampling and mapping of the prioritized anomalies generated.
The company would also like to announce the acquisition of a new licensed area at Nassuttooq in West Greenland. Diamond Fields’ 100-per-cent-owned Nassuttooq properties cover 84,600 hectares interpreted to be the western continuation of the Nagssugtoqidian Orogen, collectively called the Norde Stromfjord Supracrustals. Prospective horizons including clusters of ultramafic pods interpreted as komatiites and layered amphibolites with coincident nickel anomalies from regional stream sediment sampling programs. Fieldwork in 2004 will focus on sampling and mapping over this extensive area, with emphasis on areas where geological interpretation indicates prospectivity for nickel-bearing intrusive rocks.
Diamond Fields would also like to announce the completion of a 10-hole 1,372.5-metre drill program on its Ogna project targeting geophysical anomalies associated with nickel, copper and titanium mineralization in the Bjorndalsnipa and Gulldragsvatn areas of southwestern Norway. The company is awaiting the results of geochemical analysis of drill core samples from the program.
The company also announces that it has entered into a publicity agreement with Jefferson Financial LLC for the purpose of increasing investor awareness of the company.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
