Delrand Resources Limited - Press ReleaseRelease Date: 18/02/2013 08:25:00 Code(s): DRN
DELRAND RESOURCES LIMITED
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: DRN ISIN Number: CA2472671072
(?Delrand? or the "Company")
Delrand Updates DRC Diamond Exploration Activity
- 9 targets in the northern DRC which, after 2011 follow-up stream
sampling program produced 48 diamonds, 12 ilmenites, 21 chromites
and 7 garnets, have been sampled.
- Agreement signed with Rio Tinto to access a large diamond
exploration database covering areas in the southern DRC well in
excess of 100,000km?.
Toronto, Canada ? February 14, 2013 ? Delrand Resources Limited
(?Delrand? or the ?Company?) (TSX-DRN; JSE-DRN) provides an update on
its diamond exploration activities in the Democratic Republic of the
Congo (the ?DRC?).
The northern DRC has a long history of good quality alluvial diamonds.
To date, no primary sources, or kimberlites, for these diamonds have
been found. Delrand, with its partner Rio Tinto, has prospected large
areas in the provinces of Equateur and Orientale, and in more recent
years this work focussed on the Coexco and Bomili exploration projects
in the latter province.
Delrand?s first-phase exploration program over the Coexco ground in
the northern DRC was completed in 2009. The 44 Coexco exploration
permit areas were covered by an initial reconnaissance program when
stream samples were collected at a density of roughly one sample for
every 20 to 25km?. Samples were screened to plus 0.4mm and minus
0.7mm. As previously reported, 12 of the 255 samples produced 15
diamonds and in addition, five ilmenites, 27 chromites (including nine
from the diamond inclusion field) and one eclogitic garnet were also
found in the samples. These positive results were restricted to 22 of
the 44 Coexco permit areas.
A follow-up stream sampling program was conducted in 2011 over parts
of these 22 exploration permit areas. Samples were collected on an
approximate density of one sample every 5km?. As previously reported,
this program produced 48 diamonds, 12 ilmenites, 21 chromites and 7
garnets. These results are highly anomalous for two reasons.
Firstly, these positive samples are located in the same streams as the
samples which produced positive results from the initial
reconnaissance work and therefore confirm the existence of these
anomalies. Secondly, the area of interest is covered by a thick
laterite crust, up to at least 10 metres in thickness, masking the
underlying geology, including kimberlites, but at the same time
chemically etching and hence destroying the kimberlitic minerals
otherwise trapped in these soils. The presence of kimberlitic
minerals in stream or soils samples in these areas is therefore highly
depressed. Interpretation of the reconnaissance and follow-up
sampling results has identified six targets for further detailed
follow-up work on the Coexco permit areas and three targets on the
Bomili permit areas just north of the Coexco ground.
A detailed stream sampling program covering these nine targets with
some close spaced sampling was conducted in the second half of 2012.
Results are only available for the first two targets, but Rio Tinto
has decided to withdraw from the Coexco and Bomili projects. Delrand
will continue with these highly prospective targets on the Coexco and
Bomili properties until all results are available, and the next steps
are dependent upon the results of this phase of sampling and could
include geophysics and drilling. The six remaining targets on the
Coexco ground have further reduced the number of permits from 22 to
Some other high-interest targets have also been identified in Province
Orientale by Delrand and will be pursued in partnership with Rio Tinto
once the Department of Mines (CAMI) in Kinshasa, DRC opens for new
In the Kasai region of the southern DRC, Delrand has signed an
agreement with Rio Tinto to interpret a large diamond exploration
dataset that covers areas well in excess of 100,000km? (the ?First
Agreement Areas?) which were explored between 2004 and 2008 by a
number of companies using modern exploration techniques. These data
in conjunction with Delrand?s own large database, which it has built
up since 2004 from its own program of stream and soil sampling and
airborne and ground geophysical surveys, provides Delrand with the
largest exploration database for diamonds over one of the most
prospective and least explored area in the world ? the Kasai Craton.
Through this arrangement, the Company will earn into any discoveries
that result from this work over the First Agreement Areas. In
addition, a second agreement is being finalised with Rio Tinto that
will cover the areas outside the First Agreement Areas over the same
cratonic area and for which Delrand will complement the above
information with its own database.
Also in the southern DRC, detailed stream sampling results over the
two Caspian permit areas have highlighted a distinct garnet population
over one of the permit areas that will require more work. Mineral
chemistry analysis will provide the chemical signature required to
prioritise this work. The other Caspian permit has been relinquished.
Dr. Mike de Wit, President of the Company and a "qualified person" (as
such term is defined in National Instrument 43-101), has reviewed and
approved the technical information in this press release.
Delrand Resources Limited is an African-focused mineral explorer with
projects in the Democratic Republic of the Congo. Current activities
include diamond exploration projects and an iron ore exploration
project. Other mineral projects are under consideration. Led by an
experienced board and management team with a successful track record
of exploration and mine development in Africa, the Company works in a
systematic and responsible manner to discover, assess and develop
mineral resources for the benefit of its shareholders and local
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements. All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes, expects
or anticipates will or may occur in the future (including, without
limitation, statements relating to exploration results, potential
mineralization and plans and objectives with respect to mineral
exploration) are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the Company
based on information currently available to the Company. Forward-
looking statements are subject to a number of risks and uncertainties
that may cause the actual results of the Company to differ materially
from those discussed in the forward-looking statements, and even if
such actual results are realized or substantially realized, there can
be no assurance that they will have the expected consequences to, or
effects on the Company. Factors that could cause actual results or
events to differ materially from current expectations include, among
other things, the possibility that future exploration results will not
be consistent with expectations, changes in equity markets,
uncertainties relating to the availability and costs of financing
needed in the future, changes in commodity markets, foreign currency
fluctuations, political developments in the DRC, changes to
regulations affecting exploration or development activities, delays in
obtaining or failure to obtain required project approvals, the
uncertainties involved in interpreting geological data and the other
risks involved in the mineral exploration business. Any forward-
looking statement speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or
results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and accordingly undue reliance should not be put on such statements
due to the inherent uncertainty therein.
For further information, please visit our website, www.delrand.com, or
In Toronto: Tom Sipos, (416) 366-2221 or 1-800-714-7938.
In Johannesburg and the DRC: Brian P. Scallan, Vice President,
Finance, +27 82 902 6273 or +243 991772978.
Date: 18/02/2013 08:25:00 Supplied by www.sharenet.co.za
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