Archangel Diamond Corporation Discovers New Kimberlite Pipe At Verkhotina Project.VANCOUVER, British columbia--(BUSINESS WIRE)--Feb. 16, 1996 --ARCHANGEL DIAMOND (VSE See DOS/VSE. VSE - Virtual Storage Extended :AAD AAD American Academy of Dermatology. AAD American Association of Dermatology ) Archangel archangel, in religion archangel (ärk`ānjəl), chief angel. They are four to seven in number. Sometimes specific functions are ascribed to them. The four best known in Christian tradition are Michael, Gabriel, Raphael, and Uriel. Diamond Corporation (VSE-AAd) is pleased to announce with their joint-venture partner, Arkhangelskgeologia ("AGE"), the discovery of a new kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. pipe (#441) on their Verhotina project in north western Russia. Pipe 441 is the first kimberlite pipe to be discovered in the Archangelsk Diamond Province since 1989 and the first by a western funded joint- venture. The new pipe appears to be on a structure distinct from that controlling the cluster of five pipes which until recently have been the focus of evaluation on the Verkhotina tenement. Processing of the core recovered to date has started and results will be announce as they become available. Detailed ground geophysics indicates that the new pipe has a surface area of approximately 11 hectares, which is comparable to the surface dimensions of four of the five pipes comprising the Lomonsova deposit, reportedly one of the richest diamond deposits in the world. As a result of he discovery, 10 ground geophysical anomalies in the vicinity of the discovery have been designated high priority targets and will be drilled during the next few months. The joint venture is also reprocessing Reprocessing may refer to:
On the Windy Ridge joint venture, the winter drill program using two drill rigs commenced in January. Results will be announced as they become available. The Company has completed its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. with respect to the proposed acquisition of Ellendale Resources NL, Australia, and the Board of Directors has determined not to proceed with the acquisition. ON BEHALF OTHER BOARD Mark Godsy Director Note: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Archangel Diamond Corporation Bill Trenaman, 604/687-4452 or Skyline Capital Corp. Investor Relations, 416/601-9278 |
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