India Resources Limited

Published : December 04th, 2007

BOOSTS DIAMOND PROSPECTS

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MEDIA RELEASE                                                                          

 

 

4 December 2007  

 

INDIA BOOSTS DIAMOND PROSPECTS

 

Diversified minerals developer India Resources (ASX:IRL) has further advanced its diamond interests in India, with the granting of five prospecting leases in a known diamond region in Andhra Pradesh, part of the eastern Dharwar Archaean Craton of South India.

 

India Resources Chairman Michael Kiernan said the area was within a highly prospective diamond region, and included two mapped kimberlite pipes identified by previous drilling.

 

The original prospecting lease applications were submitted by the ASX-listed Dwyka Diamonds in May 2004, after it had completed a regional exploration over a much larger area. The two mapped and drilled kimberlite pipes are known as CC4 and CC5 of the Chigicherla cluster.

 

“Preliminary drilling shows diamond associated indicator minerals within the project area, which displays diamond bearing potential,” Mr Kiernan said.

 

“The region is highly prospective for diamonds, and we have several strong anomalies which will be tested as part of an extensive exploration program to investigate for further pipes within the cluster.“

 

“We expect to commence an aggressive exploration program in early 2008,” Mr Kiernan said.

 

IRL is fast developing a high quality suite of potential diamond projects in India as part of its strategy to commercialise a diverse range of resources projects within one of the worlds fast growing markets. The Company has three primary diamond projects under exploration – Bundelkhand, Bhandara and Dharwar.

 

India remain s the home of diamonds and the world’s largest diamond processor,” Mr Kiernan said.

 

“We have been able to acquire a number of highly prospective landholdings across the country, and with modern exploration and mining techniques, aim to capitalise on the huge diamond production and market potential within India,” Mr Kiernan said.

 

Dharwar Project

 

The area consists of Archaean gneisses and greenstone facies schist belts of metavolcanics and metasediments. Relatively undeformed and weakly metamorphosed Proterozoic sedimentary basins occur to the east of the license areas. This includes the Cuddapah basin, which is known for alluvial diamonds. The schist belts are intruded by younger potassic granites and dolerite dykes and in a late stage by kimberlite and lamproite bodies.

 

A report by Mineral Services Canada Inc in 2003 looked at samples from kimberlites CC5 and CC4. Indicator minerals recovered included kimberlitic ilmenites, diamond associated G10 garnets, high Cr diamond-inclusion type chromites and one high Na diamond associated eclogite garnet (from CC4). 

 

Geobarometric analysis showed that 27% of 48 selected G10 garnets from CC4 were considered to be derived from the diamond stability field.  Overall abundances of these indicator minerals were considered low to moderate and so suggested a low to moderate diamond bearing potential.  However, compositional analysis of the low calcium G10 garnets “established the presence of highly prospective mantle lithosphere within the cratonic area where CC4 and CC5 occur”.

 

For further information, please contact:

 

Michael Kiernan                                Eoin Rothery                                  Warrick Hazeldine

Chairman                                           Managing Director                         Purple Communications

Tel: +61 (0) 8 9324 7002                      Tel: +61 (0) 8 9324 7009                  Tel: +61 (0) 8 9485 1254

Mob: 0418 904 165                              Mob: 0420 904 332                          Mob: 0417 944 616

 

 

 

Andhra Pradesh – Prospecting Licenses

 

 

 

The geological and assay statements and commentary in the above update are based on information compiled by Eoin Rothery who is a member of the Australian Institute of Geoscientists.  Mr Rothery has reviewed the information and has satisfied himself that the values quoted and the parameters used in the study are reasonable and accurately reflect the operations involved. Mr. Rothery is a full-time employee of India Resources Ltd and holds the position of Managing Director.  Mr. Rothery has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to quality as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Rothery consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


 

About India Resources

 

The company is headquartered in Perth, Western Australia with the primary objective to maximize shareholder wealth by capital growth and dividend through the discovery of economic mineral deposits and the development of profitable mining operations.

 

IRL is applying Australian exploration expertise and cost effective mining techniques to project in India, to capitalise on country huge growth and market opportunities.

 

The Company’s portfolio of assets comprises:

 

Hindustan Copper Limited - Surda Mine

The Company has the benefit of an alliance with Hindustan Copper Limited (HCL - a Government of India enterprise) with the initial focus on identifying existing operations and areas where large-scale mineralisation has been proven. HCL is the sole integrated producer of primary copper in India and is listed on the Mumbai, Delhi, Kolkata and Madras exchanges.

 

IRL, in alliance with HCL, has re-opened the Surda Mine with an initial objective of delivering annual production of 4,500 tonnes of copper concentrate. The HCL Surda Mine closed in January 2003 and for the six years prior produced a total of 1,473,000 tonnes at an average grade of 0.9% copper.

 

Hindustan Copper Limited – Exploration MOU

IRL has the benefit of a Memorandum of Understanding (MOU) for general exploration on HCL’s various leases including tenure around the Surda Mine, and around HCL’s current operations at Malanjkhand and Khetri. IRL will undertake detailed evaluation of exploration areas to be determined in consultation with HCL.

 

Aravalli Project

Through IRL’s in-country consultants, the Company has acquired two Reconnaissance Permits in Rajasthan (north western India). The permits cover a combined total of more than square kilometers. The Aravalli Proterozoic metamorphic belt is prospective for copper, lead, zinc as well as gold. IRL has recently completed a reconnaissance drilling program with positive results.

 

Coal

As has happened in China, India’s rapidly growing economy is driving a surge in demand for power. IRL is currently seeking suitable projects for rights to explore and develop coal projects in India.

 

Diamonds

The Company’s diamond initiative will focus on the Bhandara Diamond Project which consists of seven granted Reconnaissance Permits in Orissa, as well as three Reconnaissance Permit applications in Chhattisgarh, located in the region of several kimberlite ore bodies.

 

 

Visit: www.indiaresources.com.au

 

 

 

 

 

 

 

 

 

 

 

***

The new Spam Act commenced on 10 April 2004. This Act is aimed at reducing the amount of unauthorised emails you receive.  You have been receiving e-mails containing information and news releases from us on behalf of our clients because you are an important contact of Purple Communications, a boutique stakeholder communications consultancy.   If you do not wish to receive such emails from Purple, please click mailto: purple@purplecom.com.au subject=UNSUBSCRIBE or reply to this email and put UNSUBSCRIBE in the subject line and we will not email you again.

 If you do not reply, we will continue sending you relevant news and information via email. However, all future emails will allow you to unsubscribe.

 

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au    

 

 

India Resources Limited

PRODUCER
CODE : IRL.AX
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India Res. is a zinc and lead producing company based in Australia.

India Res. produces zinc, lead, copper in India.

Its main asset in production is SURDA in India and its main exploration properties are DHAWAR PROJECT, BUNDELKHAND PROJECT, BIHARINATH, ARAVALLI PROJECT, BHANDARA DIAMOND PROJECT and ASKOT MINE in India.

India Res. is listed in Australia. Its market capitalisation is AU$ 2.0 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on November 05, 2010 at AU$ 0.03, and its lowest recent point on June 10, 2016 at AU$ 0.00.

India Res. has 1 000 590 016 shares outstanding.

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Annual reports of India Resources Limited
Annual Report 2007
Project news of India Resources Limited
12/2/2014Surda mine update
6/10/2008(Surda)Surda Delivers Record Daily Copper Production
Corporate news of India Resources Limited
5/17/2016Quarterly Activities and Cash Flow Report
12/22/2015Successful appeal to Indian Tax Assessment
12/22/2015AGM Presentation
12/22/2015Results of Annual General Meeting
11/2/2015Notice of Annual General Meeting
11/2/2015Appendix 4G Corporate Governance Disclosure
4/11/2015Surda expension project
3/21/2015Half Year Accounts
3/9/2015Shareholder Update
12/26/2014Aravalli Decision
12/2/2014Results of annual general meeting 2014
10/30/2014Quarterly activities report 30 September 2014
10/30/2014Notice of annual general meeting
4/21/2010Quarterly report
11/26/2008Surda Copper Operation - Update
10/1/2008Announces 2008 Results
9/5/2008Working Capital Facility and Project Update
6/25/2008Director Resignation
4/15/2008Secures Future Copper Production Base
2/11/2008boosts Board
1/15/2008DISCOVERS NEW DIAMOND INDICATORS
1/8/2008First copper sales as Surda steams ahead
12/20/2007ACQUIRES STAKE IN INDIAN EXPLORER
12/4/2007BOOSTS DIAMOND PROSPECTS
11/2/2007 INTO COPPER PRODUCTION AHEAD OF SCHEDULE
10/9/2007RAISING $20 MILLION TO DOUBLE COPPER PRODUCTION
8/21/2007COMMENCES DRILLING NEW TARGETS
8/15/2007ACQUIRES DIAMOND LEASES
7/17/2007 To commence Production early 2008
6/6/2007Surda Operations Update
5/20/2007has closed its Initial Public Offer heavily oversubscribed
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