Diamond Fields’ Joint Venture Company Granted Mining License over World Class Zinc, Copper, Silver and Gold Project
Pursuant to the terms of the joint venture agreement with Manafa, DFI owns 50.1% of the venture and Manafa owns 49.9%. The project will be developed in defined stages, commencing with a Scoping Study to start immediately and designed to test the accuracy of the huge volume of historic data available on the deposit.
The Atlantis II Deeps has a surface area of 60 square kilometers (23 square miles) and contains an extensive volume of metal enriched mud, the consistency of soft toothpaste.
Extensive historical work has been conducted on the project, with a total of 628 cores having been taken, with a total length of approximately 4km. The bulk of the cores are in an excellent state of preservation, which will enable
The latest historic resource estimates (not NI 43-101 compliant) of Atlantis II Deeps suggest tremendous economic potential with approximately 1.83 million tonnes of zinc, 402,000 tonnes of copper, 3432 tonnes of silver contained within 89.5 million tones of ore (Dry Salt Free).
Commenting on this significant project,
The geological and technical information in this press release has been compiled and reviewed by Mr. I Ransome B.Sc. (Hons) Geology, UBO, Pri. Sci. Nat. Mr. Ransome is the Chief Geologist for
DIAMOND FIELDS INTERNATIONAL LTD. "Wayne Malouf" Wayne Malouf, Chief Executive Officer
The Company’s Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. Accordingly,
Historical geological data for this Release came from the Atlantis 2 Red Sea data and reports generated by Pressaug AG and from the following sources:
Blanc, and Anschutz, 1995. New stratification in the hydrothermal brine system of the Atlantis II Deep, Red Sea. Geology.1995; 23: 543-546
Guney M., Nawab Z., and Mahoun N.A., 1984: Atlantis II Deep’s Metal Reserves and their Evaluation. OTC 4780, 16th Ann. Offshore Technology Conf.
Herzig P.M., Holroyd, R. Hardman, M. Osmaston,
Herzig, P.M., Petersen S., and Hannington M.D., 2002: Polymetallic Massive Sulphide deposits at the Sea Floor and their Resource Potential. In Polymetallic Massive Sulphides and Cobalt-Rich Ferromanganese Crust: Status and Prospects. International Seabed Authority Tech. Rep. # 2.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in
SOURCE Diamond Fields International Ltd.