Diamond Discoveries Renews Agreement for Quebec Base Metal and Diamond Properties
25 Mars 2008 - 1:44PM
Business Wire
Diamond Discoveries International Corp (OTCBB: DMDD) is pleased to
announce that an updated agreement has been reached between Tres-Or
Resources Ltd. (TRS.V) and DMDD via its wholly owned subsidiary
Diamond Discoveries (Canada) Inc. under which DMDD may acquire up
to an undivided 50 percent interest in various mining claims
comprising the Notre Dame du Nord, Quebec properties. DMDD has paid
TRS $215,000 to date in order to keep the agreement and property
claims in good standing. Under the terms of the renewed agreement,
DMDD shall pay to TRS the sum of $150,000 within the next 60 days
to cover drilling expenditures TRS has incurred. DMDD shall incur a
total of $1,500,000 in exploration costs to earn their 50 percent
interest. The funds will be used to test top priority base metal
and kimberlite targets, as outlined in an approved 2007-2008 work
program prepared by Harrison Cookenboo, Ph.D., P.Geo., and subject
to revisions as work proceeds and results are received. Results
that have been reported recently from drill hole PQ07-04 on the
Notre Dame du Nord Base and Precious Metals property have been
encouraging. Test results received from independent ACME Analytical
Laboratories Ltd. from drill hole PQ07-04 revealed significant zinc
mineralization of 2.00 percent over 14.6 meters between 114 meters
to 129 meters, including an interval of 2.4 m of 3.39 percent zinc
(see Tres-Or News release dated December 10, 2007). Results from
additional drilling on the same target are pending. In addition to
the base metal discovery, two priority kimberlite targets are being
prepared for drilling on the properties. In addition, indicator
mineral and geochemical sampling surveys are being initiated for
the spring and summer of 2008 to localize new kimberlite and base
metal targets. Harrison Cookenboo, Ph.D., P.Geo., prepared the
recommended work program for the Quebec properties and is a
Qualified Person by the standards of National Instrument 43-101,
has reviewed the contents of this news release. Dr. Cookenboo is
responsible for the design and implementation of the field
programs. About Diamond Discoveries International Corp. Diamond
Discoveries International Corp is a U.S. exploration company with
executive offices in New York, N.Y. and Toronto, Ontario. Since
inception through it's wholly owned subsidiary Diamond Discoveries
(Canada) Inc. it is focused on diamonds, precious and base metal
exploration in the province of Quebec.
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