Debut Concludes Agreement With Aroland First Nation and Appoints Martin Doyle to the Board of Directors
23 Août 2012 - 4:01PM
Marketwired Canada
Debut Diamonds Inc. (the "Company" or "Debut"), (CNSX:DDI), is very pleased to
announce that it has concluded an Exploration Agreement with the Aroland First
Nation ("Aroland") in connection with the Company's Nakina diamond exploration
project located north of Nakina, Ontario.
The agreement includes benefits for the community of Aroland provided by way of
Debut financial contributions in support of certain social and cultural
programs, and also includes employment and service related business
opportunities. In return, Aroland has approved and will continue to support the
Company's exploration activities for the duration of the project. The agreement
provides for the proper handling and protection of any sacred or other
culturally significant sites, and contains comprehensive plans for the
prevention, mitigation and remediation of any environmental impacts which may
result from the Company's exploration activities in the field.
Chris Meraw, President of Debut Diamonds states, "Our agreement with Aroland
emphasizes the need for mutual respect and a positive relationship between the
parties during all phases of the project and while this approach not only brings
economic opportunities to the community, it also provides an element of
certainty for the company's exploration work in the area."
Additionally, Debut is pleased to announce that Martin Doyle has joined the
Company's Board of Directors. Martin was most recently the Senior Vice
President, Exploration for De Beers Canada and held this role from 2005 to 2011.
Having started his career with Anglo American in 1977, he has worked in many
parts of the world for De Beers and Anglo American. Beginning in diamond
exploration in Botswana, Martin relocated to the De Beers Marine division and
worked on the development of Namibia and South Africa marine deposits and later
moved to South America where he brought his extensive marine experience to Anglo
American's Tierramar Marine Gold Project, and later continued diamond
exploration for De Beers in South America. Martin graduated in 1977 with a BSc
(Hons) Geology from the University Of Aberdeen, Scotland and with an MBA in 1987
from the University of Cape Town, South Africa. His appointment is subject to
the approval of the Canadian National Stock Exchange (CNSX).
"Having an individual with the global knowledge and experience that Martin now
brings to us, is a big boost to our team on the Board of Directors; especially
at a time when the Company is aggressively resuming its exploration for diamond
bearing kimberlite deposits in northern Ontario" said Chris Meraw, President of
Debut Diamonds.
Canada Chrome Corporation (CCC") - Rail Corridor Soil Sampling: The geotechnical
soil profile samples recovered at 500 meter intervals along the entire length of
the CCC railroad corridor claims (a distance of approximately 330 kilometres
from the Ring of Fire area south to Nakina, Ontario) constitutes an
unprecedented opportunity to search for mineral deposits along this transect of
the Canadian Shield. CCC is a wholly owned subsidiary of KWG Resources Inc. (TSX
VENTURE:KWG) and to facilitate that analysis CCC and Debut have an agreement
under which Debut has been conducting mineral separation and analysis, of the
entire suite of samples. The Ontario Geological Survey is collaborating in
examining the soil samples in order to construct from them a detailed profile
and understanding of the glacial till depositions. Heavy minerals representing a
variety of mineral deposit types have been identified. The indicator and heavy
mineral separation phase of the project has concluded. All data received from
laboratory geochemical analysis of the samples is being plotted, and subsequent
to further analysis, a follow up program will be contemplated. Debut is the
operator of the project.
About Nakina Project
Debut's Nakina Project consists of 85 unpatented mining claims (comprised of 436
total claim units) located north of Nakina, in the James Bay Lowlands of
northwestern Ontario. The Company has a 100% interest in 57 of those claims, and
an option to earn a 70% operating interest in the additional 28 claims. The
Nakina Project covers a cluster of distinct magnetic features that are
interpreted to be potential kimberlite pipes as determined by analysis of
airborne magnetic data generated in 2010 by the Ontario Geological Survey. The
first phase of drilling at Nakina represents an expenditure of $750,000 for
exploration work within the traditional lands of Aroland First Nation. Each of
the initial high priority targets has been surveyed for the existence of any
archaeological or cultural values and permission to proceed with exploration
work has been approved by Aroland. Debut is the operator of the project.
About Debut Diamonds Inc.
Debut has joint venture and wholly owned properties all of which are located in
Northern Ontario; these include the previously discovered MacFadyen Kimberlites
and the Pele, Victor West, and Uniform Surround claim blocks adjoining the De
Beers' Victor Mine. Located in the same region are the company's Nakina Project,
Wawa Project and Canada Chrome Soil Sampling joint venture. The Kyle Kimberlites
and Diagnos Initiative are within and adjacent to the Ring of Fire.
Forward-Looking Statement
Certain of the statements made and information contained herein is considered
"forward-looking information" within the meaning of applicable Canadian
securities laws. These statements address future events and conditions and so
involve inherent risks and uncertainties, as disclosed in Debut Diamonds
periodic filings with Canadian securities regulators. Actual results could
differ from those currently projected. Debut Diamonds does not assume the
obligation to update any forward-looking statement.
Debut Diamonds (CSE:DDI)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Debut Diamonds (CSE:DDI)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
Real-Time news about Debut Diamonds Inc (Canadian Securities Exchange): 0 recent articles
Plus d'articles sur Debut Diamonds Inc.