News!!!MINK INTERNATIONAL RESOURCES CORP.
NEWS RELEASE - July 9, 1997
NEW KIMBERLITE DEPOSIT DISCOVERED IN MALI DIAMOND PROJECT
INITIAL RESULTS INDICATE PRESENCE OF MORE KIMBERLITE BODIES
The New Discovery
The Company is pleased to announce the discovery of a new kimberlite
deposit in its Kenieba Diamond Concession located in the Republic of Mali,
West Africa - bringing the total number of known kimberlite bodies there to
twenty four (24) to date.
The 36,000 sq. km Kenieba Diamond Concession was granted by the government
to Mali Diamond Exploration BV, a private company jointly owned by Mink
International (49%) and Ashton West Africa Pty Ltd (51%), a member of the
Ashton Mining Limited group of companies based in Melbourne, Australia.
Ashton now fully manages the Kenieba Diamond Project on behalf of the joint
venture.
The new kimberlite pipe was discovered by Ashton personnel after test
pitting an aeromagnetic anomaly identified from a survey conducted by
AERODAT Inc. of Ontario. The new discovering has proven that, indeed, the
use of a high quality aeromagnetic survey is an effective method of
identifying kimberlite pipes in Mali's Kenieba Region in which the
Mink-Ashton diamond concession is located.
Ashton advised that it is too early to determine the actual size of the
newly discovered "Delys Pipe" but six (6) tonnes of kimberlite rock were
collected from 7 to 12 meter deep test pits for micro and macro diamond
testing. Results are pending.
Ongoing Aeromagnetic and Ground Geophysical Surveys
To date, AERODAT completed only 17% of the commissioned 65,000 line
kilometre High Sensitivity Magnetic and Radiometric Airborne Survey. The
Company announced on May 2nd, 1997 that 30 aeromagnetic anomalies were
identified from this initial survey. Ten (10) more anomalies, including
the newly discovered Delys Kimberlite Pipe, were subsequently identified
within the same surveyed area. Twenty six (26) are still being
investigated by ground geophysical surveys (viz: magnetometer and EM).
Ongoing Sampling Programme
During the months of May and June 1997, initial results from the follow-up
sampling programme in the Concession yielded 73 positive results from the
85 samples observed in Ashton's Laboratory in Perth, Australia. These
results strongly suggests the presence of additional kimberlite bodies in
both the Kenieba Valley and the Tambaoura Escarpment sections of the
Concession.
Testing Pitting Programme in Progress
To date, test pitting of six magnetic anomalies has been completed, while
work on a further ten is still ongoing. In June 1997, 75 test pits
(totalling 300 meters in depth) were excavated. Samples from these pits
have been concentrated in the Company's laboratory on site and mineral
observation results are pending.
Upon completion of the current ground geophysical surveys in the various
aeromagnetic targets, additional test pits will follow.
ON BEHALF OF THE COMPANY
O.L. de la Cuesta
President
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