Delta Mining and Exploration looks to Canada as an example of North American diamond mining and the numbers are staggering.
Most of Canada’s gems are currently gathered from beneath the earth’s crust in the Northwest Territories, which exported 12 million carats last year.
With an increase in diamond exploration in the last decade, some analysts predict Canada will be the largest producer in the world within 20 years. As diamond wells in other parts of the world begin to dry up and so-called “clean” diamonds — the hallmark of Canadian gems — become the hot trend in jewels, investors are increasingly turning their attention to northern Canada.
Victor, a Canadian mine owned by DeBeers, which is scheduled to open in late 2008, will yield roughly 6 million carats according to De Beers’ corporate Web site.
Phase Two Exploration for Delta Mining consisted of the Grassrange District Properties in Montana and produced a detailed mapping and collection of samples for diamond indicator mineral analysis. This report focused on the Homestead and Three Buttes kimberlite bodies and the Teigen Butte and Rattlesnake Butte targets. Delta Mining and Exploration Corp. controls six properties totaling 7,554 acres (approximately 11 sq. miles) in Montana.
Delta Mining and Exploration received a report on the samples processed from their Montana target. The micro-probe analysis to determine kimberlite provenance and/or specific mineral chemistry was positive. Link here for report.
Stay tuned: There is so much to tell about this exciting prospect that Stock Guru will be checking in several times a day on this company so you can learn about their advantages in their quest for a U.S. diamond mine!
Source: Delta Mining and Exploration and Associated Press Article October 2004
Contact: Alex Livak
Investor Relations
242 Kings Rd.
Lewisburg, Kentuc 42256
Tel: 347-813-4664
Em: info@deltamine.com
Delta Mining
242 Kings Rd.
Lewisburg, KY 42256
USA
Website: http://www.deltamine.com
Phone: 347-813-4664
About Delta Mining and Exploration, Corp: http://www.deltamine.com: Delta is a mineral exploration company with an extensive portfolio of diamond properties in Montana. Delta controls some 8000 acres throughout Montana located within the Wyoming Craton where much of North America’s diamonds have been found and has completed two phases of exploration work.
Safe Harbor for Forward-Looking Statements. This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “plan,” “confident that,” “believe,” “scheduled,” “expect,” or “intend to,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company’s products and technologies, competitive factors, timing, and other risks described in the Company’s SEC reports and filings.
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