LAVAL, QUEBEC--(Marketwire - Oct. 24, 2012) - Diamond Frank Exploration Inc. (News - Market indicators) announces that geological reconnaissance work and sampling has begun on its GoldPeak (100%-owned by Diamond Frank Inc.) and Destorbelle (50%-owned by Typhon Exploration Inc. / 50%-owned by Diamond Frank Inc.) properties. Those two properties are respectively located approximately 25 km South-East and 9 km west of the Fayolle Deposit.
The GoldPeak Property is comprised, from north to south, of detrital sediments from the Caste Formation (Kewagama Group), ultramafic volcanic rocks (komatiite) from the Malartic Group and tonalites from the LaPause granitic complex. The northern part of the property goes along the Manneville Fault zone, one of the eastward branch extensions of the Porcupine-Destor Fault. Five types of gold mineralizations are present in this structure: 1) Iron carbonate altered quartz carbonate veins, (2) Porphyritic intrusions with disseminated sulphides, (3) Epithermal veins with anomalous concentrations of Zn, Pb and Hg, (4) Silver (Ag) rich quartz veins, (5) Disseminated sulphides associated with bleached zones and volcanogenic massive sulphides (VMS) associated with volcanic rock units. The recent geophysical work (magnetic and electromagnetic airborne surveys) show two distinct domains, one being associated with a large mafic intrusive, located in the southern and north-west parts of the property and the second, located in the central and north-east parts of the property, corresponding to felsic volcanites, intruded by a dyke. In addition, several high-conductivity anomalies forming high priority exploration targets were also identified.
The Destorbelle Property is mainly located in the zone from the Kinojevis-Malartic Group, between the Aiguebelle and La Pause faults, similar to a tectonic front associated with E-W overlapping formations having a northern direction. It appears to be a very complex zone, both in terms of the number of faults and tectonic segments. We find a sequence of overlapping panels of basalt-rhyolite-komatiite and turbidites, a multitude of syn-tectonic dykes and volcanics from Malartic. The main mineralized zone, the Destorbelle Showing, is spatially associated with altered and brecciated ultramafic flows as well as with a graphitic tectonic breccia. Breccia horizons are of an E-W to WNW-ESE orientation, with a steep dip towards the S-SW. Geophysical (induced polarization) and geochemical work (humus), structural study by satellite imagery, a compilation (GOCAD) and two (2) drilling campaigns show, from a structural point of view, a great similarity with the Fayolle Deposit.
ABOUT DIAMOND FRANK EXPLORATION INC.
Diamond Frank Exploration Inc. is banking on its properties' excellent mineral potential for the development of new deposits.
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The common shares of Diamond Frank Exploration Inc. are listed on the Venture Stock Exchange under the symbol "DOD".
QUALIFIED PERSON
Mr. Daniel Gaudreault, P. Eng., Geol. (OIQ), from Geologica Groupe-Conseil Inc., is the Qualified Person as defined by National Instrument 43-101, to supervise the preparation of this press release.
Forward-looking statements
This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Diamond Frank. Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Diamond Frank will derive therefrom. Forward-looking information is based on the estimates and opinions of Diamond Frank at the time the information is released and Diamond Frank does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
