NEWS RELEASE - November 4, 2008
DUMONT NICKEL INC. (DNI : TSX-Ven, DG7 : Frankfurt)
DIAMOND HUNT TO RESUME ON DUMONT'S ATTAWAPISKAT PROPERTY UNDER NEW OPERATOR
DUMONT NICKEL INC. (DNI:TSX-Ven, DG7:FSE) is pleased to announce that it has received notice from KEL-EX DEVELOPMENT Ltd, a private corporation under Mr.C.Fipke's control, that exploration for diamonds on DUMONT's Attawapiskat Property under option to KEL-EX will resume under the Operatorship of ARCTIC STAR DIAMOND CORP. (ADD:TSX-Ven). The Attawapiskat Property is adjacent to DEBEERS' Victor diamond Mine property and is located in the same structural corridor hosting the diamondiferous Victor kimberlite pipe and other kimberlites across the region.
The Attawapiskat Property has been under option to KEL-EX since 2003. KEL-EX has conducted considerable exploration work, at no cost to DUMONT, under separate arrangements with METALEX VENTURES LIMITED (MTX:TSX-Ven), BIG RED DIAMOND CORP. (DIA:TSX-Ven) and ARCTIC STAR. DUMONT retains a 10% carried interest to production and a 5% interest in certain surrounding areas if acquired by KEL-EX.
Stockwatch News street-wire of October 23, 2008, (www.stockwatch.com, W.Purcell) and ARCTIC STAR press of even date, indicate that contemplated resumption of exploration activities over the Property is made possible by resolution of certain disputes between KEL-EX and its joint venture partners.
At last report, METALEX had announced discovery of 18 glacial mineral indicator trains which are derived from suspected diamond-bearing kimberlites situated partly on DUMONT's claims (METALEX press September 24, 2004). METALEX had also reported discovery of abundant kimberlite and diamond indicator minerals, including chrome diopsides and olivines with diamond inclusion compositions, and discovery of diamonds in surface material. The D6 diamond indicator mineral fan has been identified as the most prospective mineral fan discovered to date, and indications are that future work will focus on the search for the source to the D6 fan.
Formalities of the change of Operatorship have not yet been finalized. DUMONT will announce additional developments as they are concluded.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 106,898,010
Link to release on Canada Newswire:
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Dumont Nickel Inc
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EXPLORATEUR |
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CODE : DNI.V |
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ISIN : CA23327V1094 |
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Dumont Nickel est une société d’exploration minière de nickel basée au Canada. Dumont Nickel détient divers projets d'exploration en USA et au Canada. Ses principaux projets en exploration sont CANE SPRINGS et REDWALL URANIUM en USA et ATTAWAPISKAT DIAMOND PROPERTY, RATTLER, JAMES BAY LOWLANDS CLAIMS et SOUCY-OBC-DUE DILIGENCE au Canada. Dumont Nickel est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,9 millions CA$ (1,5 millions US$, 1,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 09 mars 2007 à 9,60 CA$, et son plus bas niveau récent le 30 décembre 2015 à 0,06 CA$. Dumont Nickel possède 29 590 000 actions en circulation. |