Print Print article 

5 March 2010


Diamond Discoveries provides update for its chromium-PGE property

Source: Press Release

Diamond Discoveries International Corp., a U.S. company focusing on chromium, platinum group elements (PGE) and gold exploration on it's 100% owned Caribou Property in Thetford Mines, Quebec, Canada is pleased to provide an update on it's exploration plans and the staking rush currently taking place in the Thetford Mines area.

The Company plans to continue on its exploration program that it commenced in 2008 that resulted in high chromium values in multiple areas. Six (6) samples from the American Chrome Junior Showing returned composite assays of 10.72% Cr2O3 over 5 meters and .4g/t PGE (platinum, palladium and rhodium). This composite included a 1 meter grading of 21.47% of Cr2O3 and .5g/t PGE. In addition channel sampling (1 meter wide) on the new Bil Showing of which five (5) samples returned up to 9.8% Cr2O3 over 1 meter with traces of PGE.

Plans for 2010 include additional surface sampling and phase one drilling of 3-5 targets totaling 1-2,000 meters. In addition to chromium the Company also has gold discovery potential on its Caribou Property, one grab sample returned grade of 12,3 g/t Gold and 60 g/t Silver and 2,9% Copper on the northeast part of the property (GM 22358 Assessment Report from MRNF).

The Thetford Mines area is presently enjoying a major staking rush rumored to be the result of gold discoveries in sedimentary formations together with felsic volcanic and/or intrusive complexes. Nevado Venture Capital Inc. and Niogold Mining Corporation have recently announced significant acquisitions of mineral claims in the area. In addition recent government filings indicate that Bowmore Exploration Limited have acquired at least 200 permits.

Thetford Mines and the Southern Quebec Appalachian Belt have a century long history of mining and are known for its numerous chromite, asbestos and copper deposits. The region was the site of Canada's first placer gold rush on the 1850's, decades before the Klondike in the Yukon.

"Sedimentary formations in Quebec have been overlooked in the past for their gold potential but are now strong contributors to major new gold deposits in the Province such as Canadian Malartic (Osisko Mining) and Eleonore (Goldcorp)," said Antonio Sciacca CEO of DMDD, "In addition to chromium, which is our primary focus, we intend to also take part in this new Appalachian gold play."