News
DELTA MINING AND EXPLORATION, CORP.
CONTINUES EXPLORATION
Lewisburg, KY. — May 3, 2004 — Delta Mining and Exploration, Corp. (OTC: DMXC) is pleased to announce that surface reconnaissance work
previously completed by Delta’s geologists, show that there is
potential for the discovery of further kimberlite pipes on the
company's Montanan properties. Kimberlite pipes are the principal
source of diamonds throughout the world. The exploration that
is to be completed over the coming months is designed to test the
potential of the Montanan diamond leases covering approximately 7500
acres.
Additionally, Delta has two more
environments of interest in the country of Bolivia, South America.
One is in the Andes and the other in the Precambrian, in Eastern
Bolivia (within the Archean Gupaoré Craton of the Brazilian shield).
The first is a State Line style
situation in the crumpled lower Palaeozoic Eastern Andean foreland
basin overlying the Guaporé Craton. The property is referred to as
Independencia where diamond industry leader De Beers is currently a
lease holder and is in the area conducting extensive exploration. The
area is related to an enormous, but little known zone of
Jurassic-Cretaceous extension that has been characterized by surges of
alkaline magmatism in the form of syenites, alkaline gabbros and
basalts, carbonatites, swarms of mafic to ultramafic lamprophyric
dykes and breccias and together with petrographically identified
kimberlites. It has three known occurrences of alluvial diamonds.
The Precambrian target is a
speculative play with a fairly sound geophysical underpinning – in
effect a second “diamond line” similar to the Brazilian “AZ 125
lineament” running from Minas Gerais to Rondonia and containing most
of that countries diamonds. While no diamonds have been recorded from
the Bolivian Precambrian, this may be due to the fact that it has
never undergone the waves of garimpeiro prospecting as experienced in
Brazil. Some pyrope garnets have been discovered and aeromagnetic
surveys flown have produced clusters of the bullseye dipole anomalies
indicative of kimberlites or lamproites. Computer modelling of
airborne and ground magnetics has revealed pipe-shaped sources for
some of these. The property is accessible by road and will undergo
extensive exploration in the coming months.
The Bolivian properties, although less
extensively explored than the North American properties, display all
the characteristics necessary to encourage intensive exploration. The
presence of De Beers in the highly prospective diamondiferous terrain
on the Independencia property that is two-thirds controlled by Delta,
is clearly of interest.
Delta Mining and Exploration Corp., http://www.deltamine.com:
is a mineral exploration company with an extensive portfolio of
diamond and gold properties throughout the state of Montana, and in
Bolivia, South America. Delta controls some 7,500 acres throughout
Montana located within the Wyoming Craton where much of North
America’s diamonds have been found. Another 10,000 acres of
prospective diamond and gold properties are controlled in Bolivia,
South America.
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.
Contact:
Alex Livak,
Investor Relation
Delta Mining and
Exploration, Inc.
11649 E. Cortez Drive
Scottsdale,
Arizona 85259
(917) 731-0215
Email:
info@deltamine.com
Website: http://www.deltamine.com |
