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DDI Debut Diamonds Inc

0.26
0.00 (0.00%)
29 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Debut Diamonds Inc CSE:DDI CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.26 0.26 0.255 0 00:00:00

Debut Announces Phase One Exploration Program at Nakina Project

08/08/2012 3:43pm

Marketwired Canada


Debut Diamonds Inc. ("Debut") (CNSX:DDI) will be mobilizing an exploration team
to begin phase one of a drill program at its Nakina Project located in the James
Bay Lowlands, north of Nakina Ontario. The Nakina Project covers a total of 85
mining claims (consisting of 436 total claim units) where Debut holds a 100%
interest in 57 of the claims and has an option to earn a 70% interest in the
additional 28 claims. Debut is operator of the project.


To date, none of the exploration targets at Nakina have been drill tested and
the upcoming program is designed to test distinct magnetic features that are
interpreted to be potential kimberlite pipes as determined by analysis of
airborne magnetic data generated in 2010 by the Ontario Geological Survey.


Debut will be drill testing 20 of its high priority targets with a hollow stem
auger capable of coring bedrock once it is reached, therefore enabling the
identification of kimberlite. This will be followed immediately by a program
utilizing a diamond drill to reach deeper targets. The first phase of drilling
at Nakina represents an initial expenditure of $750,000 for the exploration of
select targets that are located within the traditional lands of Aroland First
Nation. Each target was surveyed for the existence of any archeological or
cultural values and permission to proceed with early exploration has been
approved. All required agreements and permits are either in place, or expected
shortly. Mobilization of the crew is scheduled for mid August.


"Reaching an agreement with Aroland First Nation, to move on select targets at
Nakina, represents a solid step forward as we prepare to begin exploration work
on this exciting project. We look forward to developing a constructive long term
relationship with the community and will also be sourcing certain goods and
services from Aroland, while providing training and employment opportunities
throughout the duration of the project" said Chris Meraw, President of Debut
Diamonds.


About Debut Diamonds 

Debut has joint venture and wholly owned properties which include the previously
discovered MacFadyen Kimberlites and the Pele, Victor West, and Uniform Surround
claim blocks adjoining the De Beers' Victor Mine. Also located in northern
Ontario are the Nakina Project, Wawa Project and Canada Chrome Soil Sampling
joint venture. The Kyle Kimberlites and Diagnos Initiative are within and
adjacent to the Ring of Fire.


Forward-Looking Statement

Certain of the statements made and information contained herein is considered
"forward-looking information" within the meaning of applicable Canadian
securities laws. These statements address future events and conditions and so
involve inherent risks and uncertainties, as disclosed in Debut Diamonds
periodic filings with Canadian securities regulators. Actual results could
differ from those currently projected. Debut Diamonds does not assume the
obligation to update any forward-looking statement.


For further information please visit the company's website at www.DebutDiamonds.com.

Shares issued and outstanding: 53,390,934

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