News
Delta
Mining and Exploration, Corp. Discusses Their Portfolio of Diamond
Properties
LEWISBURG, Ky., March 2 /PRNewswire-FirstCall/-- Delta Mining and
Exploration Corp. (Pink Sheets: DMXC), a mineral exploration company,
controls approximately 7,500 acres of diamond properties showing
potential, throughout Montana. The properties are located within the
Wyoming Craton where much of North America's diamonds have been found.
A number of diatremes have been found on these properties that will be
explored in greater detail during 2004.
Another 10,000 acres
of prospective diamond and gold properties are controlled in Bolivia,
South America. Initial work has revealed that the Bolivian properties
display similar potential to those found in North America.
The Company has
experienced significant technical success since its start-up in 1997.
Delta discovered the first in-situ microdiamond ever found in Montana
on its Homestead Kimberlite, southeast of Lewistown. This
diamondiferous kimberlite will be the first diatreme to be extensively
explored over the coming months. The Company also controls part of the
Three Buttes Kimberlite.
Initial exploration
has shown The Three Buttes Kimberlite to host typical diamond
indicator minerals -- a major step toward finding the presence of
economic diamonds -- including pyrope (garnet), chromite and
clinopyroxene.
Delta seeks to
increase growth for its investors not only by testing its extensive
portfolio of diamond exploration properties but also by acquiring
additional diamond properties. Delta will focus on identifying and
developing strategic alliances with major mining companies as well as
joint ventures to develop the properties and finance additional
exploration.
Delta controls 6
properties totaling 7,554 acres (approximately 11 sq. miles) in
Montana that are all located over what management considers to be some
of the most prospective diamond exploration terrain in Montana. An
aggressive regional exploration program has the potential to discover
additional kimberlite or lamproite pipes in this under-explored area
to the south of known commercial diamond bearing kimberlites in
Saskatchewan and Alberta, Canada.
In Bolivia, Delta,
through its 100% owned subsidiary Global Gold, has acquired the
Independencia group of concessions covering 7,860 acres (12 sq miles).
These concessions cover approximately two-thirds of a highly
prospective diamondiferous terrain, with the other one-third presently
being explored by De Beers. Delta is yet to complete significant
exploration work on the Independencia property. In addition to the
Independencia property Delta controls more than 2,000 acres comprising
the highly speculative but attractive Precambian property.
NOTE: Safe Harbor
Statement under the Private Securities Litigation Reform Act of 1995:
The statements, other than the statements of historical facts may be
deemed to contain forward-looking statements with respect to events,
the occurrence of which involves risk and uncertainties, including,
without limitation, demand and competition for the company's products
and services, the availability to the company of adequate financing to
support its anticipated activities, the ability of the company to
generate cash flow from operations and the ability of the company to
manage its operations.
Alex Livak, Investor Relations
(917) 731-0215
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