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Gold/Mining/Energy : Canadian Diamond Play Cafi
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To: Famularo who wrote (96)8/6/2002 5:25:07 PM
From: Rocket Red  Read Replies (2) of 16203
 
Diamonds North Resources Ltd - News Release
Canabrava and Diamonds North intersect kimberlite
Diamonds North Resources Ltd DDN
Shares issued 10,001,033 Aug 2 2002 close $ 0.40
Tuesday August 6 2002 News Release
See Canabrava Diamond Corp (CNB) News Release


Mr. George Read of Canabrava Diamond reports
KIMBERLITE INTERSECTED, HADLEY BAY PROJECT, VICTORIA ISLAND
Canabrava Diamond and Diamonds North Resources have learned that the first hole of the drill program on the Hadley Bay project has intersected kimberlite. This kimberlite is named the Apollo kimberlite.
Kimberlite was encountered below three metres of overburden. A total of 32 metres of competent kimberlite breccia has been intersected in this first vertical hole. Additional holes will be drilled to ascertain the size of this kimberlite pipe. This first drill hole was sited on an intense magnetic low, which forms part of a cluster of magnetic anomalies along a strike length of approximately 1.5 kilometres. Delineation drilling of the Apollo kimberlite is under way, and the drilling of additional magnetic anomalies will follow.
Canabrava has the option to earn a 50-per-cent interest in Diamonds North's Hadley Bay diamond project by spending $5-million and issuing 250,000 shares to Diamonds North over a four-year period. The 2002 program consists of a $700,000 exploration budget and issuance of 50,000 shares of Canabrava to Diamonds North, which is the project operator.

(c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com

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