News
Delta Mining and Exploration Prepares
for Second Phase of Ground Work
LEWISBERG, KY -- (MARKET WIRE) --
01/31/06 -- After a winter of transition in which a new CEO was
appointed, Delta Mining and Exploration Corp. (OTC: DMXC) is pleased
to announce that it is in final discussion with Apex Geoscience
Limited ("Apex") regarding a second phase fieldwork program for
Delta's Grassrange district exploration targets in Montana. The work
will commence once a schedule with Apex is finalized. Dr. Barry
Rayment, who resigned as CEO but remains with the company as a Board
Member and a Technical Advisor, is overseeing all negotiations and
field work that will follow.
This work program follows the
successful ground magnetic survey carried out by Apex last summer. At
the Homestead Kimberlite, the magnetic survey showed a series of
magnetic highs/ anomalies over a length of approximately 350 metres
reflecting the hypabyssal kimberlite body or bodies which are partly
exposed at surface. At the Three Buttes, the kimberlite(s) appear to
be larger than the surface expression based on magnetic anomalies to
the south and north-west. The entire array of anomalies at Three
Buttes covers a length of approximately 500 meters. At the Rattlesnake
Butte intrusion, a linear magnetic high which is continuous for more
than 400 metres is believed to represent a linear lamprophyric body.
At Teigen Butte intrusive, lamprophyric rocks exist which are defined
by the ground magnetic survey. At all of the Homestead, Three Buttes,
Teigen Butte, TV Hill, Half Moon and Rattlesnake Butte bodies,
carbonate breccias exist, which represent separate phases or
intrusions which are non-magnetic.
The new program will consist of
detailed mapping and collection of samples for diamond indicator
mineral analysis and will focus on the Homestead and Three Buttes
kimberlite bodies and the Teigen Butte and Rattlesnake Butte targets,
believed to be related to lamprophyres. Kimberlites, and to a lesser
extent lamprophyres, are known to host the majority of the world's
diamond deposits.
After completion of the program and the
analysis of results, a follow-up field campaign, expected to consist
of trenching with collection of large weight samples for micro-diamond
analysis, will be undertaken. Diamond indicator minerals, G10 pyrope
garnets, and a micro-diamond were previously recovered from the
Homestead kimberlite by Delta during early reconnaissance sampling of
the property.
About Delta Mining and Exploration,
Corp: http://www.deltamine.com:
Delta is a mineral exploration company
with an extensive portfolio of diamond properties in Montana, USA and
in Bolivia, South America. Delta controls some 8000 acres throughout
Montana located within the Wyoming Craton where much of North
America's diamonds have been found. A further 10,000 acres of
prospective diamond properties are controlled in Bolivia, South
America.
NOTE: Safe Harbor for Forward-Looking
Statements.
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.
CONTACT:
Alex Livak
347-813-4664
info@deltamine.com
URL: http://www.deltamine.com
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