Wrap Text
Press Release - Delrand Resources Identifies Numerous High-Interest Diamond Targets For Follow-up Work
DELRAND RESOURCES LIMITED
(formerly BRC DIAMONDCORE LTD.)
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: DRN ISIN Number: CA2472671072
(“Delrand” or the "Company")
Press Release
Delrand Resources Identifies Numerous High-Interest Diamond
Targets For Follow-up Work
- Delrand has identified numerous high-interest targets for further
follow-up work subsequent to a review of a large diamond
exploration database, as part of an agreement with Rio Tinto,
covering areas in southern DRC well in excess of 100,000km².
Toronto, Canada – May 30, 2013 – Delrand Resources Limited (“Delrand”
or the “Company”) (TSX-DRN; JSE-DRN) reports progress on its diamond
exploration activities in southern Democratic Republic of the Congo
(the “DRC”).
Exploration work continues in the Kasai region of the southern DRC,
where Delrand has signed an agreement with Rio Tinto to interpret a
large diamond exploration dataset that covers areas well in excess of
100,000km² (the “Agreement Areas”) which were explored between 2004
and 2008 by a number of companies using modern exploration techniques.
The work has so far identified numerous permits with samples that
contain lherzolitic garnets formed under minimum pressures of 53.4
kilobars and hence well within the diamond stability field. These
garnets, which are also associated with abundant kimberlitic ilmenite,
are therefore likely to be derived from kimberlites that are diamond-
bearing.
This 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 areas in the world – the Kasai
Craton, producer of most of the DRC’s historical production of over
1.2 billion carats. Through this arrangement, the Company will earn
into any discoveries that result from this work over the Agreement
Areas.
Commenting on recent exploration activities Dr. Mike de Wit, the
Company’s President, said: “Delrand has a focused exploration
programme assisted by its agreement with Rio Tinto. Delrand has itself
amassed and obtained access to a considerable amount of exploration
data. The Company is now processing and further exploring arguably one
of the most comprehensive DRC diamond exploration data bases that have
ever been assembled.”
Qualified Person
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
diamond exploration projects in the Democratic Republic of the Congo.
The Company also has an iron ore exploration project and 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 stakeholders.
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
contact:
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.
30 May 2013
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
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