Diamond Discoveries Caribou Property, Thetford Mines, Quebec Update
March 04 2010 - 9:53AM
Marketwired
Diamond Discoveries International Corp. (PINK SHEETS: DMDD), a U.S.
company focusing on chromium, platinum group elements (PGE) and
gold exploration on it's 100% owned Caribou Property in Thetford
Mines, Quebec, Canada is pleased to provide an update on it's
exploration plans and the staking rush currently taking place in
the Thetford Mines area.
The Company plans to continue on it's exploration program that
it commenced in 2008 that resulted in high chromium values in
multiple areas. Six (6) samples from the American Chrome Junior
Showing returned composite assays of 10.72% Cr203 over 5 meters and
.4g/t PGE (platinum,palladium and rhodium). This composite included
a 1 meter grading of 21.47% of Cr203 and .5g/t PGE. In addition
channel sampling (1 meter wide) on the new Bil Showing of which
five (5) samples returned up to 9.8% Cr203 over 1 meter with traces
of PGE.
Plans for 2010 include additional surface sampling and phase one
drilling of 3-5 targets totaling 1-2,000 meters. In addition to
chromium the Company also has gold discovery potential on its
Caribou Property, one grab sample returned grade of 12,3 g/t Gold
and 60 g/t Silver and 2,9% Copper on the northeast part of the
property (GM 22358 Assessment Report from MRNF).
The Thetford Mines area is presently enjoying a major staking
rush rumored to be the result of gold discoveries in sedimentary
formations together with felsic volcanic and/or intrusive
complexes. Nevado Venture Capital Inc. (TSX VENTURE: VDO) and
Niogold Mining Corporation (TSX VENTURE: NOX) have recently
announced significant acquisitions of mineral claims in the area.
In addition recent government filings indicate that Bowmore
Exploration Limited (TSX VENTURE: BOW) have acquired at least 200
permits.
Thetford Mines and the Southern Quebec Appalachian Belt have a
century long history of mining and are known for its numerous
chromite, asbestos and copper deposits. The region was the site of
Canada's first placer gold rush on the 1850's, decades before the
Klondike in the Yukon.
"Sedimentary formations in Quebec have been overlooked in the
past for their gold potential but are now strong contributors to
major new gold deposits in the Province such as Canadian Malartic
(Osisko Mining) and Eleonore (Goldcorp)," said Antonio Sciacca CEO
of DMDD, "In addition to chromium, which is our primary focus, we
intend to also take part in this new Appalachian gold play."
The Company is also pleased to provide its new website
www.quebecdiscoveries.com which reflects the Company's focus and
commitment to Thetford Mines, Quebec.
The technical content of this press release has been reviewed
and approved by Bertrand Brassard, P.Geo., a Qualified Person under
the quidelines of National Instrument 43-101.
About Diamond Discoveries International Corp.
Diamond Discoveries International Corp. is a U.S. exploration
company with executive offices in New York, NY and Toronto,
Ontario. Since inception it has been focused on diamonds,chromium,
PGE (platinum, palladium and rhodium) and gold. In June of 2008 the
company received a NI 43-101 technical report on its Caribou
Property, Thetford Mines, Quebec.
Forward-Looking Statements
This news release contains discussion of items that may
constitute forward-looking statements within the meaning of
securities laws that involves risks and uncertainties. Although the
company believes the expectations reflected in such forward-looking
statements are based on reasonable assumptions, it can give no
assurances that its expectations will be achieved. Factors that
could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by
government authorities, uncertainties associated with contract
negotiations, additional financing requirements, market acceptance
of the Company's products and competitive pressures. These factors
and others are more fully discussed in company filings with U.S.
securities regulatory authorities.
Contacts: Diamond Discoveries International Corp. Antonio
Sciacca CEO 212-332-8016 tony@diamonddiscoveries.com
Diamond Discoveries (CE) (USOTC:DMDD)
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