News
DELTA MINING AND
EXPLORATION, CORP. DISCLOSES PRELIMINARY GOLD EXPLORATION FINDINGS IN
SOUTH AMERICA
Lewisburg, KY. -- August 4, 2004— Delta
Mining and Exploration, Corp. (Delta) (Pink Sheets: DMXC) wishes to
disclose preliminary findings on their Gold concessions in Bolivia.
The Robert concession controlled by
Delta is roughly 3830 acres and is located approximately 50 miles by
paved highway south of La Paz. The concession is located on the
Altiplano alongside the Coniri fault at an elevation of 13,000 feet.
The property is about 80% rocky outcrop or shallow soils with the
balance of the land being covered by Cretaceous to Tertiary aged
sediments. The large percentage of outcrop simplifies exploration and
due to easy access and drilling conditions is quite cost effective.
The low hills exposed above the
Altiplano plain are either Paleozonic sedimentary rocks and/or Miocene
dacite rocks. The sedimentary rocks consist of thinly bedded shales
(60%) and bedded sandstones (40%) believed to be of the Vila Vila
formation. This geology provides a good indication for positive
host rocks to gold mineralization in this region.
To date, a small number of samples have
been collected from the dacite and have returned values of 0.333 g/t
of Gold, 2.3% Lead, and 0.667% Zinc. The limited amount of
exploration completed set in the context of the promising geology and
the presence of successful producing mines in the area suggest that
more detailed exploration is warranted.
The extensive experience of Dr. Barry
Rayment and Stephen Kay in this region of South America in conjunction
with their gold exploration and mining history will ensure Delta
prepares and completes the appropriate work program while being
considerate of the local culture.
With injection of capital expected over
the coming weeks, a work program will be planned for this property
together with the previously disclosed diamond exploration properties
in both Montana and Bolivia.
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 many 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: 917-731-0215
Email:
alivak@deltamine.com
Website:
http://www.deltamine.com
SOURCE: Delta
Mining and Exploration Corp. |
