DIAMOND EVALUATION OF KIMBERLITES ON SCHEDULE
Symbol: RXD
Trading: Toronto Stock Exchange
TORONTO, Feb. 1 /CNW/ - Rex Diamond Mining Corporation today announced
that one of the aeromagnetic anomalies currently being checked by the Company
on the Tenoumer permit was found to be an ellipsoidal outcrop of calcreted
ironstone (Gossan), measuring 380 by 185 meters. To verify if this outcrop was
the weathered surface expression of a kimberlite, a 2 meter deep trench was
dug in the center of the anomaly. Two grab samples were taken from the trench
and sent to Lakefield Research Laboratories in Ontario, Canada, for
Instrumental Neutron Activation Analysis for a various suite of elements. The
results of the chemical analyses disproved any kimberlitic affinity, but
returned high gold values of respectively 2.4 grams/tonne (2430 ppb) and 1.5
grams/tonne (1550 ppb). The calcreted ironstone (Gossan) outcrop is located in
the middle of an important shear zone cutting across the central part of the
Tenoumer permit. Under the Mining Laws of Mauritania, exploration permits are
awarded for a specific commodity. The Company has the exploration rights for
diamonds on the Tenoumer permit but did not have one for gold or metals. To
allow the Company to follow up the anomalous gold values, the Council of
Ministers of Mauritania recently awarded the Company two exploration permits
for gold, copper, lead, zinc, nickel, cobalt, platinum group elements, silver,
cadmium, germanium, indium, selenium, tellurium, molybdenum, tin, tungsten,
magnesium, antimony, barium, fluor, sulphur, arsenic, bismuth, strontium,
mercury, rare earths, titanium and zircon sands. The two permits cover the
full width of the major shear zone. The permits are named Karet South and
Karet North and cover respectively 460 and 1500 square kilometres.
In the eastern part of the Tenoumer permit, the kimberlite bodies are
presently being drilled and trenched. The Company is ordering a second drill
rig and two more trucks to speed up the diamond evaluation program. Large
samples, of 50 to 100 kg, for microdiamond analyses are being sent to an
independent laboratory. The Company expects to have the results on the
microdiamond analyses available within two months from now.
This winter, the regional reconnaissance sampling has been completed on
the Arouedil, Ouassat and Cheggat permits at a density of one soil sample per
6 square km. First results available from the Ouassat permit, show the
presence of diamonds and kimberlitic pyropes with sub-kelyphitic surface
texture. Many aeromagnetic targets, representing possible kimberlite bodies,
remain to be checked in the Tenoumer, Tourine, Char, Ouassat and Touajil
permits. The Company has purchased more magnetometers and the ground
geophysics crew has been doubled.
The Mauritania exploration activities are led by Dr. Luc Rombouts, a
Director and Officer of the Company is a geologist with 22 years of
experience, a Fellow of the Australasian Institute of Mining and Metallurgy,
and a Member of the Institution of Mining and Metallurgy of London and of
Canada.
CEO Serge Muller stated: "While the find of the Gossan may prove to be an
important one, let there be no misunderstanding at all, our advanced diamond
exploration program remains paramount and is proceeding on schedule."
%SEDAR: 00008443E
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For further information: Katrien Geerts, Investor Relations and
Corporate Communication, Tel: +32 (3) 205-9060, Fax: +32 (3) 205-9070,
Website: www.rexmining.com, E-mail: info@rexmining.com
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