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Diamond Fields International Ltd. - Significant Gold Values Confirmed from Atlantis II Resource

04.04.2011  |  CNW

VANCOUVER, April 4 /CNW/ --
SYMBOL: DFI


VANCOUVER, April 4 /CNW/ - Diamond Fields International Ltd. (TSX: DFI)
('DFI' or the 'Company') is pleased to report preliminary gold assay
results as part of a 43-101 resource statement being prepared for the
Atlantis II property in the Red Sea that it is developing jointly with
Manafa International. Cores 3M268, 3M338, 3M567 in the South West basin
of the Atlantis II analyzed as part of the a due diligence study on
cores originally sampled in the late 1970's have yielded consistent
levels of gold mineralization over the sampling intervals, and are open
at depth. Sample preparation and analyses were undertaken by Alex
Knightly Laboratories in Alaska by AAS. Core 3M268, with a total
penetration of 12.68 metres, intersects significant gold mineralization
within the upper amorphous silicate zone (SAM) through to the Central
Oxidic (CO) zone of the upper unit, averaging 1.825 g/t DSF (Dry Salt
Free) over 8 metres (Table 1). Core 3M338, which penetrates the upper
7.87 metres of Unit A averages 1.71 g/t gold (DSF) over the penetrated
interval, whilst core 3M567, with a total depth of 10.41 metres,
recovered 6.41 metres of the lower horizons of the Upper Unit (Unit A),
with an average gold value of 1.64 g/t gold (DSF).


Table 1. Gold values over sample intervals for Cores 3M268, 3M338, 3
M567.


_________________________________________
|From|To| 3M268 | 3M338 |3M567|
| | | AuPPM | AuPPM |AuPPM|
| | | (DSF) | (DSF) |(DSF)|
|____|__|_____________|_____________|_____|
| 0 |1 | CL* | 1.85 | CL* |
|____|__|_____________|_____________| |
| 1 |2 | 1.80 | 1.78 | |
|____|__|_____________|_____________| |
| 2 |3 | 1.93 | 1.80 | |
|____|__|_____________|_____________| |
| 3 |4 | 1.76 | 1.80 | |
|____|__|_____________|_____________|_____|
| 4 |5 | 1.58 | 1.89 |1.57 |
|____|__|_____________|_____________|_____|
| 5 |6 | 1.84 | 2.09 |1.70 |
|____|__|_____________|_____________|_____|
| 6 |7 | 2.13 | 0.86 |1.37 |
|____|__|_____________|_____________|_____|
| 7 |8 | 1.81 |Open at Depth|1.69 |
|____|__|_____________| |_____|
| 8 |9 | 1.81 | |1.82 |
|____|__|_____________| |_____|
| 9 |10|Open at depth| |2.59 |
|____|__| | |_____|
| 10 |11| | 0.72 |
| | | |_____________|
| | |Open at Depth| |
|____|__|_____________|_____________|



*CL - Core Loss


To date, the highest recorded gold value analyzed contains 2.76 g/t Au
(DSF) (core 3M350).


The gold values are significantly higher than previously inferred from
floatation analyses (0.5 g/t Au DSF) by Preussag for the historical
resource estimate on the deposit. The presence of elevated gold values
within the South West Basin of the Atlantis II Deeps, together with
other geochemical and mineralogical data indicates the close proximity
of an (palaeo) exhalative vent in the South West basin, where high
grade mineralization within the sedimentary pile may be present. As
part of its resource development program on the deposit, the Company
has defined preliminary potential target areas of vent locations to
core in its upcoming resource development program.


Gold is part of a 30 mineral suite being assayed as part of a 43-101
resource statement being prepared, and is in addition to zinc, copper
and silver already known to be present in the deposit (see DFI press
release of June 4, 2010).


Commenting on the results, DFI's President and CEO, Ian Ransome said,
'Obviously the gold results are encouraging. The presence of elevated
gold values and the possibility of locating high-grade mineralization
open at depth within the South West Basin just adds further potential
value to the deposit.'


Qualified Person


Information of a scientific or technical nature contained in this
release has been prepared and reviewed by Ian Ransome, Pri, Nat. Sci.
Chief Executive Officer, who constitutes a 'qualified person' within
the terms of National Instrument 43-101 regulations.


DIAMOND FIELDS INTERNATIONAL LTD.


'Wayne Malouf


Wayne Malouf, Chairman


Ian Ransome, Chief Executive Officer


Forward-Looking Statements:


Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific
factors identified in Diamond Fields' periodic filings with Canadian
Securities Regulators. Such forward-looking information represents
management's best judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future results
may vary materially. Diamond Fields does not assume the obligation to
update any forward-looking statement, except as otherwise required by
law.


2


 


 

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2011/04/c9112.html

1 604 685 9911
Website: www.diamondfields.com



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