FIRST DIAMONDS FROM MONTROSE DRILL SAMPLE
LA JOLLA, Calif. - Global Diamond Resources, Inc., ("Global") is pleased to announce that the processing the 222 ton drill bulk sample at Global's Montrose kimberlite project is progressing on schedule.
In March and April 1998, Global completed a drill program at Montrose, drilling 30 vertical ten-inch diameter percussion holes to a maximum depth of 100 meters. This program yielded 222,071 kilograms (222 tons) of kimberlite.
The drill cuttings are being processed hole by hole, top and bottom parts of each hole separately, to produce concentrates in the size ranges 1.5-2.0, 2.0-2.5, 2.5-3.5, and 3.5-6.0mm. These concentrates are then handsorted at an independent laboratory in Johannesburg. The material below 1.5mm in size goes to tailings while the 6mm material is milled to release diamonds before sorting. Handsorting has been completed for approximately 70% of the concentrates (the plus 6mm still requires milling and handsorting).
A total of 19 diamonds have been recovered to date with a total weight of 2.63 carats. The largest is a diamond of 0.43 carats. The diamonds are all of gem or near gem quality.
The Montrose project is still in the early stages of exploration. The results of the drilling program will determine the sighting of an underground bulk sample that in turn should determine the economic feasibility of this project.
This press release contains forms of forward-looking statements that are based on the Company's beliefs as well as assumptions made by and on information currently available to the Company. Such statements are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's 1996 Annual Report on Form-10-KSB and subsequent Quarterly Reports on Form 10-QSB on file with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results will vary materially from those anticipated, estimated, or projected and the variations may be material.
For more information about Global visit our Website at globaldiamond.com or call Eugene Brill at (800) 424-6533 or (619) 459-0045. |
