February 13, 2007 07:00 PM Eastern Time
Kimber-X in Negotiations for Diamond Exploration Joint Venture
LAS VEGAS--(BUSINESS WIRE)--Kimber-X Resources Corp. (Pink Sheets: KRXR): Kimber-X is pleased to announce that the Company is in the final stages of negotiating a significant joint venture for a sizable claim block in the Forte a La Corne area of Saskatchewan. The land area of the joint venture is directly adjacent to the Fort a la Corne region and the Company is currently in negotiations with a major landholder of the property. The Forte a la Corne region hosts one of the most extensive kimberlite fields in the world and possibly the world's largest diamond deposit.
The Sask craton axis runs directly through the area of the joint venture. Once the joint venture is completed the Company proposes to conduct an aeromagnetic/EM program in the areas to augment the data currently held in the assessment files. The Company feels that this area could become extremely valuable for diamond exploration. Previous exploration and data composition only considered highly magnetic targets as prospective; however, given the high variability of magnetic signatures several new and exciting targets may present themselves in this area.
Fort a la Corne is known to have the world's largest accumulation of diamondiferous kimberlites. The Fort a la Corne kimberlite cluster is a north-northwest trending zone of kimberlite pipes that stretches for about 35 km and is about 10 km wide. To the northeast lies another cluster of kimberlite pipes known as the Snowden Cluster that trends in the same direction. About 75% of the Fort a la Corne kimberlites contain diamonds and they vary not only in size and complexity but also in economic potential.
Additionally the Company is now reviewing all the data available for its claim block located adjacent to the large claim block, which has been staked by Shear Minerals Ltd. This project is known as the Stella Polaris Project and it has been disclosed that there is the presence of a large pyrope dominated kimberlite indicator dispersion plume in the Wyoming craton in southern Saskatchewan. There is significant information available and the Company hopes to be able to announce their detailed plans regarding these claims in the near future.
Canada's diamonds are "clean" in that they are not used to finance terror, war and weapons as diamonds have been in other parts of the world, as opposed to the "blood diamonds," which have been the problem with traditional African sources such as Sierra Leone and Angola.
Contacts
Kimber-X Resources Corp.
Investor Relations, 888-789-0939
info@kimber-x.com
www.kimber-x.com
or
Mr. Stuart Smith, 512-267-0500
info@smallcapvoice.com
www.SmallCapVoice.com
AI
