BHP Diamonds Inc./Dia Met Minerals Ltd. name new diamond mine.KELOWNA, BRITISH COLUMBIA--(BUSINESS WIRE)--Oct. 8, 1997--Dia Met Minerals Ltd(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). DMM.A., AMEX AMEX See: American Stock Exchange DMM.) BHP Diamonds Inc. and Dia Met Minerals Ltd. are pleased to announce that the NWT Diamonds Project has a new name: the Ekati Diamond Mine The Ekati Diamond Mine is Canada's first diamond mine. It is located near Lac de Gras at, km ( mi) north-east of Yellowknife, Northwest Territories, and about km ( mi) south of the Arctic circle. Ekati is a joint venture between BHP Billiton Diamonds Inc. . "We have moved past the project stage, and it is important that our mine has a name which reflects both its location and the traditional use of the area," said James R. Rothwell, President of BHP Diamonds Inc. "After careful consideration of the matter, which included consultation with aboriginal organizations, the joint venture partners determined that the Ekati Diamond Mine would be an appropriate name for our new mine," he said. Ekati, which translates as "fat lake," is the traditional name for the Lac de Gras Lac de Gras is a lake approximately 300 km north of Yellowknife, Northwest Territories, Canada. Lac de Gras was the centre of the Canadian diamond rush of the 1990s. There are two working diamond mines in the area, Ekati Diamond Mine, and Diavik Diamond Mine. area where the diamond mine is situated. The name refers to the white quartz rock which is found in abundance around Lac de Gras. Both Dogrib and Dene dene n. Chiefly British A sandy tract or dune by the seashore. [Possibly East Frisian düne, a sand dune; akin to dune. elders talk about the veins that run through the white rock that make it look like caribou fat. Caribou fat is seen as a symbol of great value by local aboriginal people in northern Canada. BHP Diamonds (51 per cent), Dia Met Minerals (29 per cent), and two geologists, Charles E. Fipke (10 per cent) and Stewart Blusson (10 per cent), are developing Canada's first diamond mine in the Lac de Gras area, about 300 km north east of Yellowknife in the Northwest Territories. As of September 30, 1997, the partners had spent approximately $505 million Cdn on the project, including exploration. The Ekati Diamond Mine is expected to be completed on time to go into production in October, 1998. -0- James R. Rothwell, President BHP Diamonds Inc. James E. Eccott, President Dia Met Minerals Ltd. The American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. have neither approved nor disapproved the information contained in this release. CONTACT: Dia Met Minerals Ltd. Gerald Prosalendis, 250/861-8660 250/861-3649 (FAX) geraldp@direct.ca James E. Eccott, 250/861-8660 250/861-3649 (FAX) |
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