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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Nordic Diamonds Com Npv | TSXV:NDL | TSX Venture | 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 | - |
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Nordic Diamonds Ltd. (TSX VENTURE:NDL) (the "Company" or "Nordic") wishes to
announce that Phase I of a Reverse Circulation ("RC") drilling program has been
completed on the Company's Boutinguissi Sud gold concession located in Mali,
West Central Africa.
Historic soil geochemical sampling and recent sampling undertaken by the Company
has identified three large gold soil geochemical anomalies with values up to
1,780ppb. The largest anomaly measures 1,300 meters long and 900 meters wide and
has been subject to trenching by the Mali government in 1989.
In order to test the soil gold anomalies, the Company undertook a RC drilling
program commencing in mid-November and ending December 23, 2007. The purpose of
the drilling program was to determine the presence of mineralized gold zones
near surface, the intensity and the approximate orientation of the zones.
Significant gold assays were found in the following profiles:
Profile # Hole # Interval(m) Au(g/t)
----------------------------------------------------------------------------
N4 20 1 (end of hole) 5.1
N5 4 8 4.1
10 8 1.4
12 15 1.2
N6 16 1 (end of hole) 3.5
N7 12 8 (end of hole) 3.5
Broad zones of gold mineralization were intersected in drill holes in
profiles as listed below:
Profile # Hole # Interval(m) Au(g/t)
----------------------------------------------------------------------------
N1 34 25 0.5
N2 17 18 0.5
N3 8 25 0.5
N4 19 42 0.8
N5 7 25 0.8
N5 10 25 0.6
N5 12 25 0.8
N7 12 25 1.2
N8 9 25 0.5
A total of 229 angle holes were drilled at an inclination of minus 50 degrees
representing 5,866 meters of drilling. The holes were drilled along eight
east-west profiles targeting the most intense soil gold geochemical zones. The
drill hole collars were spaced 20 meters apart and the holes were drilled to a
constant depth of 25 meters. The close proximity of the angled holes along
sections provides a continuous assay profile across the soil geochemical zones.
The following table lists the significant assays drill intersected in the
eight profiles:
----------------------------------------------------------------------------
PROFILE # HOLE # FROM TO INTERVAL ASSAY Au
(m) (m) (m) Au (ppb) g/t
----------------------------------------------------------------------------
N1 25 8 10 2 1076 1.1
34 12 20 8 911 0.9
incl. 12 14 2 1654 1.7
incl. 18 20 2 1627 1.6
N2 8 18 20 2 4440 4.4
9 20 22 2 1007 1.0
10 2 6 4 653 0.6
16 6 10 4 538 0.5
17 10 16 6 810 0.8
incl. 14 16 2 1228 1.2
18 16 20 4 911 0.9
incl. 16 18 2 1159 1.2
19 14 24 10 874 0.9
incl. 16 18 2 1088 1.1
27 16 22 6 804 0.8
incl. 16 18 2 1092 1.1
30 6 14 8 973 1.0
incl. 8 10 2 1631 1.6
34 10 20 10 562 0.6
N3 3 4 12 8 1112 1.1
incl. 8 10 2 2090 2.1
N4 11 8 10 2 1569 1.6
12 18 22 4 789 0.8
incl. 20 22 2 1076 1.1
17 0 8 8 1978 2.0
18 16 18 2 1322 1.3
24 26 2 1857 1.8
19 12 20 8 698 0.7
incl. 18 20 2 1053 1.1
24 28 4 2613 2.6
32 42 10 1134 1.1
incl. 32 36 4 1793 1.8
20 24 25(1) 1 5066 5.1
21 12 16 4 1349 1.3
26 4 10 6 1091 1.1
incl. 4 8 4 1354 1.4
N5 4 4 12 8 4107 4.1
6 20 22 2 3122 3.1
7 6 10 4 2185 2.2
16 20 4 1610 1.6
10 4 12 8 1371 1.4
incl. 6 8 2 3359 3.4
11 12 14 2 3065 3.1
12 10 25 15 1200 1.2
incl. 16 25 9 1427 1.4
N6 7 2 4 2 923 0.9
8 10 12 2 1262 1.3
16 24 25(1) 1 3522 3.5
N7 10 0 2 2 1921 1.9
11 0 4 4 655 0.7
12 10 18 8 3522 3.5
N8 9 2 4 2 1100 1.1
8 10 2 1372 1.4
14 18 4 1127 1.1
10 18 24 6 997 1.0
incl. 18 20 2 1562 1.6
14 20 24 4 710 0.7
23 12 16 4 1212 1.2
24 22 26 4 1162 1.2
incl. 24 26 2 1565 1.6
(1) End of hole
A plan map is posted on the Company's web-site showing the gold soil geochemical
anomalies and the drilling profiles.
The Mali Gold Project is in one of Africa's traditional gold mining regions
where gold has been mined for hundreds of years. Now, modern exploration
techniques have opened up the region to several important producing mines and
new discoveries. Nordic is very pleased with its initial drill program and will
undertake a next phase of drilling commencing this week. This drilling is
designed to further define the discovery zones and to test the depth of
mineralization.
This project represents an important diversification for Nordic that nicely
complements the Company's diamond, uranium and other metal projects in Canada
and Europe.
The Company's Boutounguissi Sud and Aourou concessions are located in western
Mali approximately 450 km northwest of the capital Bamako. Nordic has the option
to earn a 70% undivided interest in the concessions by paying the Vendors a
total of US$1,770,000 in annual installments by March 15, 2011.
The concessions are underlain by Proterozoic Birimian series greenstone rocks
comprising volcanic and sedimentary sequences. The Birimian greenstone belt of
Mali hosts some of the largest gold deposits in the world including Sadiola,
Yatela, Morila, Loulo and Syama that combined contain approximately 35 to 40
million ounces of gold. The Sadiola deposit is located 120 kilometers to the
south and the Loulo deposit is located 190 kilometers to the south of the
Company's concessions. The gold mines are all open pit operations, comprising an
upper saprolitic, oxide zone commonly 100 to 150 meters thick and grading down
to a sulphide zone. These deposits generally grade from 1.0 to 4.0 g/t with
higher grades in the sulphide areas.
The RC drill samples are transported to and processed at SGS Analabs Mali SARL
in Kayes located about 90 kilometers to the south of the property. All services
provided by SGS Analabs SARL conform to quality assurance protocol ISO 17025.
Walter Melnyk, P.Eng., President of Nordic Diamonds Ltd., is a Qualified Person
as identified by NI 43-101 and is responsible for the design, implementation and
quality control of the Company's exploration programs.
ON BEHALF OF THE BOARD OF DIRECTORS
Alvin Jackson, P.Geo, Chairman and CEO
For complete details of this news release and other projects, please visit the
Company's website at www.nordicdiamonds.com.
Certain information presented in this release may constitute "forward-looking
statements" within the meaning of the US Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are based on numerous assumptions,
and involve known and unknown risks, uncertainties and other factors, including
risks inherent in mineral exploration and development, which may cause the
actual results, performance, or achievements of the Company to be materially
different from any projected future results, performance, or achievements
expressed or implied by such forward-looking statements.
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