Crystallex Initiates Drill Program for Diamonds in Uruguay
VANCOUVER, British Columbia, March 23 /CNW/ -- Crystallex
International Corporation (Amex: KRY; Toronto) announced today that it is
commencing a drill program in Uruguay to explore for diamonds, in accordance
with its proposed joint venture with SouthernEra Resources Limited
(Toronto: SUF). Under the terms of the proposed Joint Venture, Crystallex
will initially be the operator of the project and will conduct a 2,500-meter
drilling program on SouthernEra properties in Northwest Uruguay. The program,
expected to take approximately four months, will include the drill testing of
several kimberlitic diatremes to investigate the geology of the diatremes,
their indicator minerals and diamond potential.
Announced in April 1999, the proposed joint venture covers exploration
land held by both companies.
Crystallex International Corporation is a gold mining and exploration
company. The Company's strategy for growth is to develop its portfolio of
properties in South America as well as to diversify geographically by
investing in producing or near-production projects and by exploring properties
of merit in other areas of the world.
Note: This news release may contain certain "forward-looking statements"
within the meaning of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact, included
in this release, including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans and
objectives of Crystallex, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors that
could cause actual results to differ materially from the Company's
expectations are disclosed under the heading "Risk Factors" and elsewhere in
documents filed from time to time with The Toronto Stock Exchange, the United
States Securities and Exchange Commission and other regulatory authorities.
The Toronto Stock Exchange has not reviewed this release and does not
accept responsibility for the adequacy or accuracy of this news release.
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For further information: A. Richard Marshall, VP, 201-541-6650 ext. 26,
or Andrea Boltz, 604-683-0672, or email, info@crystallex.com , both of
Crystallex International Corporation
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 114620
/Web site: crystallex.com |
