24th Feb 2005 16:21
SouthernEra Diamonds Reports Discovery of New Diamondiferous Kimberlite and Microdiamond Results from its Lac de Gras Project, Northwest Territories, Canada Shares Issued and Outstanding: 86,633,701 TSX: SDM AIM: SRE TORONTO, Feb. 24 /CNW/ - SouthernEra Diamonds Inc. (SDM: TSX, SRE: AIM)today reported the discovery of a new diamondiferous kimberlite andmicrodiamond results from the Company's 60 percent owned Lac de Gras X ClaimDiamond Project in Canada's Northwest Territories, located 25 kilometers westof the Diavik Diamond Mine. During 2004 at the Lac de Gras X Claims Project, a 824.7 meter diamonddrilling program was completed to test selected high interest airborne targetsand to re-test the known kimberlite pipe, EG02. The drilling program resultedin the discovery of a new diamondiferous kimberlite pipe, EG-01B. In drillhole LDG04-05, an -90 degree hole, kimberlite was intersected from23.40 meters to 74.70 meters. The previously known pipe, EG02, was re-drilledand intersected kimberlite from 14.30 meters to 87.30 meters in drill holeLDG04-09, an -90 degree hole. Representative kimberlite samples from bothpipes were sent for micro-diamond processing to the Saskatchewan ResearchCouncil Laboratory in Saskatoon. The results are presented in Table 1. Table 1. Square Mesh Sieve diamond results for Pipes EG-01B and EG-02. ------- ------------------------------------------------------------------------- Sample Sample Wt. +0.105 +0.150 +0.212 +0.300 +0.425 +0.6 (kg) mm mm mm mm mm mm TOTAL ------------------------------------------------------------------------- EG-01B 41.6 1 0 0 0 0 0 1 ------------------------------------------------------------------------- EG-02 71.55 5 4 2 2 0 1 14 ------------------------------------------------------------------------- To date, six kimberlite pipes have been discovered at the X ClaimsProject of which four are diamondiferous. SouthernEra will continue to focuson locating the kimberlite pipe sources to the unexplained indicator mineraltrains previously defined by sonic and reverse circulation drilling at the Lacde Gras Project. Ten selected airborne targets will be tested during theupcoming winter season with ground geophysics followed by drill testing ofpositive targets. Based on the overall diamond results no further testing ofpipes EG-01B and EG-02 is warranted at this time. The Lac de Gras X Claims Project is part of SouthernEra's extensiveNorthwest Territories diamond exploration program, which is one of the largestactive programs in the region (see below for link to map). This program isfocused on the Lac de Gras Kimberlite Field, host to Canada's two existingdiamond mines (Diavik and Ekati) as well as the Southern Kimberlite Field,located approximately 100 kilometers south of the Diavik mine. Within thehighly prospective Lac de Gras region, the Company's program includes: - Lac de Gras X Claims Project (60 percent SouthernEra); - Yamba Lake(60 percent); - Monument Project (22.5 percent); - Tenby Project (20 percent); - ATW Project (10 percent); - Commonwealth Project (10 percent); and - WO Block Project (4.9 percent). On the Southern Kimberlite Field, SouthernEra's program includes the BackLake Project(60.4 percent) and the Kidme Block Project (60 percent).Exploration programs on the Lac de Gras, Yamba Lake, Monument, WO Block, BackLake and Kidme projects will be conducted from March to mid-May and will bereported on as results become available. Mr. Uwe Naeher, Professional Geologist, is the qualified person, underNI 43-101, responsible for the technical information in this release. SouthernEra Diamonds is one of Canada's largest fully integrated diamondcompanies with extensive diamond exploration in five countries, includingCanada, Australia, Gabon, the Democratic Republic of the Congo and SouthAfrica. This represents one of the most active global diamond explorationprograms. The Company also operates the Klipspringer Diamond Mine in SouthAfrica and maintains an 18 percent free-carried interest in the CamafucaDiamond Project in Angola. (Link to map: www.southernera.com/operations/map_nwt_claims.html) Some statements contained in this news release are forward-looking and,therefore, involve uncertainties or risks that could cause actual results todiffer materially. Such forward-looking statements include comments regardingexploration work. Actual results could differ materially from thoseanticipated. The Company disclaims any obligation to update forward-lookingstatements. For further information: PLEASE CONTACT: SouthernEra Diamonds Inc., Howard Bird, Vice President Exploration; or Sharon Allan, Investor Relations, Telephone: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox(at)southernera.com (SDM.) ENDRelated Shares:
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