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Post by Franko10 ™ on Sept 19, 2004 9:44:25 GMT -5
North Star Diamonds, Inc.: Drilling Confirms Potential Diamond Bearing Rocks in Ukraine
- BusinessWire
BELLINGHAM, Wash., Aug 14, 2003 (BUSINESS WIRE) -- North Star Diamonds, Inc. (NQB Pink Sheets: NSDM). The Board of Directors is pleased to report that the Company has received preliminary laboratory results from drill core samples received from the latest drilling program on diamond targets in the western Ukraine. North Star has been granted exclusive diamond exploration rights to 60 million acres (93,750 square miles) in the Ukraine under a contiguous land position that encompasses nearly 200 diamond targets.
The 200 potential kimberlites were defined by regional and local airborne and ground geophysical surveys as high concentrations of diamond indicator minerals. Drilling commenced in June 2003 with two drill rigs conducting target testing and target delineation.
Analysis of the first samples of drill core has now been confirmed as a lamproite, an important, potentially diamond bearing type of ultramafic rock related to kimberlite.
Core samples also contained a considerable number of diamond indicator minerals, such as garnet, which are being probed at this time. The chemistry of the garnets will give indications whether the lamproite may be diamondiferous.
The Company is very encouraged with the initial drill results and has committed to expanding the program to drill between 30 and 40 more holes this year on various targets. The current program will involve nine holes that will be drilled on this large, lamproite structure and will commence during the week of August 18, 2003.
In addition, exploration is also being carried out across the large land holdings over a number of kimberlite targets.
North Star Diamonds is a rapidly growing company focused on the discovery of commercial diamond deposits in the Ukraine. North Star Diamonds has exceptional land holdings and a highly skilled management and technical team respected for breaking new ground in the highly competitive diamond industry. The Company's shares trade on the OTC Pink Sheets under the symbol NSDM.
Further information on North Star's Ukrainian diamond projects can be found on the Company's Web site at www.northstardiamondsinc.com.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
SOURCE: North Star Diamonds, Inc.
North Star Diamonds, Inc.
Walter Stunder, 888-821-6607
Website: www.northstardiamondsinc.com
www.businesswire.com
- BusinessWire
BELLINGHAM, Wash., Aug 14, 2003 (BUSINESS WIRE) -- North Star Diamonds, Inc. (NQB Pink Sheets: NSDM). The Board of Directors is pleased to report that the Company has received preliminary laboratory results from drill core samples received from the latest drilling program on diamond targets in the western Ukraine. North Star has been granted exclusive diamond exploration rights to 60 million acres (93,750 square miles) in the Ukraine under a contiguous land position that encompasses nearly 200 diamond targets.
The 200 potential kimberlites were defined by regional and local airborne and ground geophysical surveys as high concentrations of diamond indicator minerals. Drilling commenced in June 2003 with two drill rigs conducting target testing and target delineation.
Analysis of the first samples of drill core has now been confirmed as a lamproite, an important, potentially diamond bearing type of ultramafic rock related to kimberlite.
Core samples also contained a considerable number of diamond indicator minerals, such as garnet, which are being probed at this time. The chemistry of the garnets will give indications whether the lamproite may be diamondiferous.
The Company is very encouraged with the initial drill results and has committed to expanding the program to drill between 30 and 40 more holes this year on various targets. The current program will involve nine holes that will be drilled on this large, lamproite structure and will commence during the week of August 18, 2003.
In addition, exploration is also being carried out across the large land holdings over a number of kimberlite targets.
North Star Diamonds is a rapidly growing company focused on the discovery of commercial diamond deposits in the Ukraine. North Star Diamonds has exceptional land holdings and a highly skilled management and technical team respected for breaking new ground in the highly competitive diamond industry. The Company's shares trade on the OTC Pink Sheets under the symbol NSDM.
Further information on North Star's Ukrainian diamond projects can be found on the Company's Web site at www.northstardiamondsinc.com.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
SOURCE: North Star Diamonds, Inc.
North Star Diamonds, Inc.
Walter Stunder, 888-821-6607
Website: www.northstardiamondsinc.com
www.businesswire.com
