Big Red Diamond Corporation Acquires 20% Working Interest in Dumont Properties.MONTREAL -- Big Red Diamond Corporation ("BRDC BRDC British Racing Drivers' Club (UK) BRDC British Racing Drivers' Club BRDC Bovine Respiratory Disease Complex BRDC Biotechnology Research and Development Corporation (Peoria, Illinois) ") is pleased to report that it has now paid approximately $910,000 to Kelex Development, completing the terms of the agreement signed by Kelex and Big Red on Sept 24, 2004 relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Dumont properties of the Attawapiskat region. As a consequence, Big Red has now been assigned a 20% working interest in the Dumont Properties, which now become part of and are subject to the terms of the existing December 2002 Big Red/Kel-Ex Joint Venture agreement. Since signing the Dumont property agreement on September 24, 2004, work has resumed on all of the Big Red/Kel-Ex joint venture properties, including the Dumont Nickel Properties. Over the course of the Joint-Venture between Big Red and Kel-Ex more than $12.5 million has been invested in the Attawapiskat/Dumont claims. As previously reported in a Metalex press release dated September 24, 2004, more than forty power auger auger (ô`gər): see drill. auger Tool (or bit) used with a carpenter's brace for drilling holes, usually in wood. It looks like a corkscrew and produces extremely clean holes, almost regardless of how large the bit is. holes, from the planned 221 auger and 19 core target sites, have already been completed on the aforementioned claims and three diamonds have been found. One of the auger holes contained a field-identified piece of kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. sent to C.F. Mineral Research Ltd. for confirmation. Exceedingly abundant kimberlite indicator minerals have also been found, containing compositions indicative of diamond formation. Of the diamond indicator minerals found so far, numerous peridotitic G10 garnets Garnets may have the following meanings
Two auger and one small bore diamond drills are currently being used for the 221 initially planned sampling sites, and fifteen of the 19 initially planned core holes are to be drilled in the vicinity of an auger intersection of field identified diamond bearing kimberlite. Several of the other drill targets are located concurrent to geophysical anomalies. It is presently thought that the source of the 18 glacial trains are derived from as yet undiscovered diamond-bearing kimberlites situated in both Dumont Nickel and Attawapiskat claims of the Kelex/Big Red joint claims. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for adequacy or accuracy of this release. Big Red Diamond Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DIA) |
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