News
DELTA MINING AND EXPLORATION CORP. PLANS
EXPLORATION OF DIAMONDIFEROUS KIMBERLITE
Lewisburg, KY --
May 10, 2004 -- Delta Mining and Exploration Corp. (Delta) (OTC: DMXC)
is pleased to announce the first stages of a work program for their
Homestead property in Montana.
Preliminary
exploration completed on the property by Delta outlined a kimberlite
diatreme covering a surface area of approximately 1,500 feet x 500
feet. Of the samples taken and tested, one resulted in the discovery
of a micro-diamond. According to Dr. Anthony Irving of The University
of Washington, an expert in the field of diamond exploration and
analysis, “the Homestead Kimberlite is one of the most exciting new
finds in North America.”
Finding economic
diamond deposits is essentially comprised of four stages that can be
summarized as follows:
1.
Discovering kimberlite and/or lamproites host rocks.
2.
Establishing the presence of diamond indicator minerals (such as
G9/G10 garnets, chromite and chrome-diopside).
3. Sampling
for the presence of microdiamonds/diamonds
4.
Bulk-testing for the presence of economic concentration of diamonds
The exploration
that is needed to determine whether the property should continue to be
explored is not all that extensive as Delta has already completed the
first 3 of the 4 aforementioned steps at its Homestead Kimberlite pipe
in Montana. This spring Delta will be working on extensive
exploration, including bulk testing, to determine the viability of the
kimberlite diatreme. The expectation is that testing could be
completed by the end of the year, with results known shortly
thereafter.
If it is
determined that the diamondiferous Homestead kimberlite is indeed
economically viable, Delta Mining will be strategically positioned to
entertain joint ventures or similar alliances with larger companies
within the industry.
About Delta
Mining and Exploration, Corp:
http://www.deltamine.com:
Delta is a mineral exploration company with an extensive portfolio of
diamond and gold properties in Montana, USA and in Bolivia, South
America. Delta controls some 7500 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.
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.
ON BEHALF OF THE
BOARD of Delta Mining and Exploration Corp.
Contact:
Alex Livak, Investor
Relations
(917) 731-0215
Email:
info@deltamine.com
Website:
http://www.deltamine.com
SOURCE:
Delta Mining and Exploration Corp. |
