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Gold/Mining/Energy : Canabrava Diamond -- Ignore unavailable to you. Want to Upgrade?

To: Diamond Daze who wrote (2144)	8/17/2000 9:41:43 PM
From: m.philli	Read Replies (1) \| Respond to of 2402

NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG FOR: DIADEM RESOURCES LTD. ME SYMBOL: DIR AUGUST 17, 2000 - 11:26 EDT Diadem Receives Positive Independent Due Diligence On Northern Ontario Diamond Exploration Properties TORONTO, CANADA--DIADEM RESOURCES LTD. (DIR.ME) reports receipt of a positive due diligence report for the optioned diamond exploration project in northern Ontario 35 kilometres west and southwest of Kapuskasing. This independent review by Consulting Geologist Dr. E. Walker of PetroLogic Inc., concluded the original data on the three properties: - "has been confirmed, duplicated and verified independently and that sample collection, processing and selection of indicator minerals is considered excellent and effective for each of the properties examined. In addition, the previous work on the property can be readily confirmed". The results of work by the private prospecting syndicate indicate that a component of overburden on each property has likely been derived from a bedrock source hosting kimberlite and/ or other related rocks favorable for diamonds. To establish drill targets, a review of ground geophysical survey data and investigation of local magnetic features as possible sources of kimberlite minerals is warranted. To obtain funds for drilling, discussions are underway for a possible flow-through financing. Under the agreement with the prospecting syndicate, which is subject to MSE approval, Diadem can earn a 50% interest in the three properties covering a total of 8.944 hectares. Recent exploration by the syndicate under the supervision of geologist R. Dillman of Arjadee Prospecting included detailed ground magnetic and electromagnetic surveys on the KAP property. Fifteen potential kimberlite pipe and dyke magnetic features were defined. Earlier work, till and stream sampling, defined seven kimberlite mineral anomalies on this property. Diadem Resources Ltd. is a Toronto-based mineral exploration company with a principal objective to discover, enhance and develop known mineral properties to production potential. Diadem has a diamond discovery in California; diamond exploration in Ontario; three zinc, copper, silver projects in Mexico; an advanced zinc project in Indonesia; zinc, copper-nickel-cobalt properties in Quebec; and interests in gold properties in Nicaragua. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Diadem Resources Ltd. A. C. A. Howe, President (416) 364-2893 (416) 368-2579 (FAX) Website: www.diademresources.com -------------------------------------------------------------------------------- CCN Disclosure is a service of This site and the contents therein © 2000 CCN Disclosure