Delta Mining and Exploration, Corp. (OTC: DMXP)
NEW YORK, Feb. 20 /PRNewswire-FirstCall/ — After receiving positive results from its second phase of diamond exploration in Montana, Delta Mining and Exploration (OTC: DMXP – News) has begun actively seeking potential joint venture partners for the third phase, which involves bulk sampling of the various projects to test for macro-diamonds.
The recently received Phase 2 Exploration Report from Apex Geoscience Ltd recommends bulk samples of up to 10 tonnes each of material to be taken from Delta’s various target areas. All of which will involve substantial cost. Therefore, Delta has begun preliminary talks about forming a strategic joint venture alliance with a partner who possesses expertise and funding in order to advance the Phase 3 Exploration projects without additional cash outlays by Delta. If necessary, the company will consider all other available options including equity financing.
Following the identification of key diamond indicator minerals collected from a number of Delta’s Grassrange District properties, the company is eager to start Phase 3 of the exploration/sampling process. Discussions are already underway with several interested joint venture partners. Time is of the essence and the Delta wishes to conclude such negotiations in a timely manner.
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.
NOTE: 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.
Source: Delta Mining and Exploration
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