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Gold/Mining/Energy : DIAMET/(BHP) TSE.DMM.B
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To: Terence Mitchell who wrote (71)2/8/1999 2:03:00 PM
From: PHILLIP FLOTOW  Read Replies (1) of 123
 
News release today:
Greenland Diamond Project Continues To Be Encouraging

KELOWNA, BC, Feb. 8 /CNW/ - Cantex Mine Development Corp. is pleased to
report progress on its joint venture exploration project with Dia Met Minerals
Ltd. and Citation Resources Inc. for Diamonds in west Greenland.
Dia Met (31%) and Cantex (20%) have each earned their working interests
in the project with the expenditure of $3.8 million Cdn. Total expenditures by
the joint venture since vesting by Dia Met and Cantex total over $600,000. The
land package has been reduced and now covers 6,043 sq kms on 8 exploration
licenses. The follow-up sampling program has been completed. Processing of
528 of these follow-up samples (collected from the vicinity of the best
geochemistry and the most prospective airborne geophysical targets) has been
initiated. Rock samples (collected from a 1m to 2m sill, a 7.5 m wide dyke,
one additional dyke and around a 200m-diameter lake with a coincident magnetic
anomaly) are presently being processed.
The first sample, a 238 kg rock outcrop sample of the kimberlite sill has
recently been analyzed and has been found to contain eleven clear
microdiamonds (less than 0.5mm) and large quantities of kimberlite indicator
minerals of diamond inclusion compositions. Seven of the eleven microdiamonds
are first quality, i.e. ''colorless''.
Additional sample results are expected over the next several months.
Planned future work in 1999 tentatively scheduled for March is to consist of
ground geophysical surveys over the most prospective targets. Core drilling
of encouraging targets, detected both from the ongoing sample processing and
the planned ground geophysical program, is planned to start as early as this
April/May.

SIGNED ON BEHALF OF THE BOARD OF DIRECTORS

CHARLES E. FIPKE,
GEOLOGIST & DIRECTOR

The Alberta Stock Exchange has neither approved nor disapproved the
information contained in this release.
%SEDAR: 00010333E

PHIL
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