NEWS OUT
Delta Mining and Exploration, Corp. Plans Exploration of Their Properties
May 12, 2004 4:05:00 PM ET
LEWISBURG, Ky., May 12 /PRNewswire-FirstCall/ -- Delta Mining and Exploration Corp. (PINK SHEETS: DMXP) is a mineral exploration company that controls approximately 7,500 acres of diamond properties showing potential throughout Montana and more than 10,000 acres of diamond and gold exploration properties in Bolivia.
The Montana properties are located within the Wyoming Craton where much of North America's diamonds have been found along with many of the largest alluvial diamonds. A number of diatremes have been found on these properties and exploration is planned during 2004. Fieldwork on the Bolivian properties will commence in the latter part of 2004, but initial work has revealed that these properties display similar potential to those found in North America.
Delta has experienced significant technical success since its start-up in 1997. For example, they discovered the first in-situ microdiamond ever found in Montana in a kimberlite body discovered on the Homestead property located southeast of Lewistown. This diamondiferous kimberlite will be the first diatreme to be extensively explored over the coming months as was detailed in the announcement May 10, 2004.
The Company also controls part of the Three Buttes Kimberlite. Initial exploration has shown The Three Buttes Kimberlite to host typical diamond indicator minerals including pyrope (garnet), chromite and clinopyroxene -- a major step toward finding the presence of economic diamonds.
It is anticipated that an aggressive regional exploration program has the potential to discover additional kimberlite or lamproite pipes in this under-explored area to the south of known commercial diamond bearing kimberlites in Saskatchewan and Alberta, Canada.
In Bolivia, Delta has acquired the Independencia group of concessions covering approximately 10,000 acres. These properties are located in a region that displays encouraging geology that has experienced a number of occurrences of alluvial diamond finds. Delta is planning exploration work on the Independencia property later in 2004. In addition to the Independencia property Delta controls more than 2,000 acres comprising the highly speculative but attractive Precambian property. The Precambian property displays both gold and diamond potential that will be explored during the latter part of 2004.
