 | | | Publié le 02 avril 2008 | BRSC/WM Diamond Project Commencement Of Drill Program |
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Re: News Release - Wednesday, April 02, 2008
Title: BRSC/WM Diamond Project Commencement Of Drill Program
Nordic Diamonds Ltd. (the "Company" or "Nordic"), wishes to announce that drilling has commenced on the BRSC/WM Diamond Project located in the Nunavut, Canada.
Two distinct indicator mineral trains were identified, during the prior years work, in the south central area of the property and are referred to as the 5124 and 5129 trains. The 5124 train is of particular interest based on the micro-probe analysis of 90 pyropes with characteristics as follow:
- There are a high proportion of G10 pyropes, 26%, as defined by Gurney (1984).
- A high proportion, 48% of the pyropes are high-Cr, (> 7 wt.% Cr2O3) up to 13.5 wt.%.
- The presence of very low Ca (<2 wt. % CaO) and high Cr. pyropes.
The Company will be drill testing 8 targets in order to identify the source of these trains. Results of the drilling will be announced upon completion of the program.
The property lies immediately to the north of the Jericho Diamond Mine and is surrounded by at least 10 kimberlite pipes to the south and west. Two pipes, including Muskox and JD-03 have been sampled extensively by Tahera Diamond Corp.
This property is subject to a 2.5% gross overriding royalty and 2.5% net smelter royalty. In addition, the property is subject to a 30% back-in-right for $2,000,000 in exploration expenditures on the property over a two year period after the Company has incurred $1,000,000 in exploration work. The Company has the right to purchase 1% of the gross overriding royalty and net smelter royalty for $2,500,000.
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.
Corporate Update
At the Annual General Meeting held on March 28, 2008, the shareholders of the Company have ratified and approved the following re-appointments as directors of the Company: Alvin Jackson, Walter Melnyk, Tanuja de Silva, Garnet Dawson and Wayne Melvin.
The Board also wishes to report that the following officers were re-appointed to their positions: Alvin Jackson, Chairman and CEO, Walter Melnyk, President and COO and Tanuja de Silva, CFO and Secretary.
Pursuant to its stock option plan, the Company wishes to announce the granting of stock options to purchase a total of 250,000 common shares. The options are exercisable on or before April 2, 2013 at an exercise price of $0.20.
Nordic Diamonds Ltd is a Canadian exploration company actively involved in the exploration and development of diamond and metals projects in Northern Canada, Scandinavia and West Africa.
For complete details of this news release and other projects, please visit the Company's website at www.nordicdiamonds.com or call the Company's representatives at:
Telephone: 604-718-5454
Facsimile: 604-646-2054
Email: info@nordicdiamonds.com
ON BEHALF OF THE BOARD OF DIRECTORS
NORDIC DIAMONDS LTD.
Alvin Jackson, P.Geo
Chairman and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information presented in this release may constitute "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
Copyright © 2008 NORDIC DIAMONDS LTD. (NDL) All rights reserved. For more information visit our website at
http://www.nordicdiamonds.com/
or send email to
info@nordicdiamonds.com
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Nordic Diamonds Ltd
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CODE : NDL.V |
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Nordic est une société d’exploration minière de diamants basée au Canada. Nordic détient divers projets d'exploration au Canada et en Suede. Ses principaux projets en exploration sont MACKAY LAKE au Canada et SOLVBACKTJARN et BOTTENBACKEN en Suede. Nordic est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 519 630 CA$ (517 915 US$, 369 015 €). La valeur de son action a atteint son plus haut niveau récent le 30 décembre 2004 à 0,85 CA$, et son plus bas niveau récent le 10 juin 2009 à 0,01 CA$. Nordic possède 51 963 000 actions en circulation. |
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