Key points
- Diamond Fields (Liberia) Inc. holds the Grand Cape and Grand Geddeh permits in a joint venture with Ducor.
- Grab samples from the Henry Town gold anomaly returned up to 13 grams per tonne gold.
- A 40m by 200m soil grid over the shear zone yielded over 1,400 samples, with lab results due by end of October 2007.
- Trench sampling is planned later in 2007, with drilling provisionally scheduled for early 2008.
Diamond Fields International
Ltd. has
recently completed an extensive gold sampling program in the Grand Cape
exploration project area in northwestern Liberia.
DFI, through its subsidiary company Diamond Fields (Liberia) Inc. (DFL),
has been actively exploring both the Grand Cape and Grand Geddeh exploration
permits, which are held under a joint venture agreement with Ducor, a Liberian
registered company. Regional exploration of the two properties has defined 10
diamond anomalies associated with G10 garnets in the Grand Cape property, and
seven gold anomalies, six of these anomalies being located with the Grand
Geddeh property.
The company has now changed its exploration strategy from regional
assessment to specific evaluation of these exploration targets. The current
focus of activity has been on a gold anomaly within the Henry Town region of
the Grand Cape property, where native gold is exploited by local artisans,
which previously returned gold values of up to 13 grams per tonne (g/t) gold in DFL’s grab
samples. The gold is contained in quartz veins associated with a Birrimian-(Proterozoic)-age transgressive left lateral shear zone, which boudinages and
juxtaposes basement gneisses and supracrustal lithologies.
Initial sampling indicates a possible maximum width of mineralization
across the shear zone of up to 500 metres, with a possible semi-continuous
strike length of over seven kilometres. To constrain the possible extent of
mineralization, an exhaustive soil sampling program over the entire western
extension of the shear zone has been undertaken by DFL on a 40-metre by 200-metre grid, yielding in excess of 1,400 samples. The samples are currently
being analyzed by fire assay in an accredited laboratory in Mali and results
are expected to be available by the end of October, 2007. Although limited in
number, initial results returned from the laboratory are encouraging with up
to 12.75 parts per million (ppm) gold being returned.
DFI expects to commence a trench sampling program later this year across
the most promising parts of the mineralized shear zone, with a follow-up
drilling program provisionally scheduled for the early part of 2008. In
addition, two other promising gold shows, the Cestos Shear and the Bartiejam
anomalies, both of which are worked for artisanal gold, are scheduled for
detailed investigation later this year with the commencement of the next dry
field season.
Roger J. Daniel, BSc (honours) geology, London, PrSciNat, the company’s
president and chief executive officer, who is a fellow of the South African Institute of Mining
and Metallurgy (SAIMM), is also a registered geological scientist with the
South African Council for Natural Scientific Professions (SACNASP), and is
thus a qualified person in terms of National Instrument 43-101, has compiled
and reviewed the scientific and technical information contained in this news
release.
