DIADEM acquires interest in California diamond prospect.SCARBOROUGH, Ontario--(BUSINESS WIRE)--Nov. 6, 1995--DIADEM RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (ME: DIR) DIADEM diadem, in ancient times, the fillet of silk, wool, or linen tied about the head of a king, queen, or priest as a distinguishing mark. Later, it was a band of gold, which gave rise to the crown. In heraldry, the diadem is one of the arched bars that support the crown. RESOURCES LTD. is pleased to announce the completion of negotiations with The Silverstone Prospecting Syndicate for the acquisition of an interest in the Leek leek: see onion. leek Hardy, vigorous, biennial plant (Allium porrum) of the lily family, native to the eastern Mediterranean and the Middle East. It has a mild, sweet, onionlike flavour. Springs property in El Dorado County, California El Dorado County is a county located in the Gold Country of the U.S. state of California, in the Sierra Nevada. Its 2004 population was estimated to be 172,889, its 2000 population was 156,299. The county seat is Placerville. . Diadem has an option to acquire up to a 55 percent interest in the Leek Springs property through a series of stages including four payments totalling up to US $350,000 cash, a total expenditure of up to US $5,000,000 on the property over a three-year period; and the issuance of up to 750,000 common shares in four stages. The acquisition is subject to the approval of The Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg and all required regulatory bodies. This property covers 12 square miles and has geophysical and geological indications of ultrabasic ul·tra·ba·sic adj. Containing magnesium and iron and only a very small amount of silica. Used of igneous rock. ultrabasic Containing magnesium and iron and only a very small amount of silica. intrusive bodies. Previous exploration work conducted by The Silverstone Prospecting Syndicate consisted of the sampling of river sediments and found diamond indicator minerals. These were followed upstream and identified the source of these minerals at Leek Springs. Subsequent magnetic surveys indicated the presence of intrusives which are possibly kimberlites or lamproites, according to Diadem's consulting geologist. In view of the history of diamonds being recovered with the gold in the rivers downstream from Leek Springs during the 1849 gold rush. Silverstone concluded this to be the main target for the source of diamonds and Diadem has optioned the property. Diadem has constructed a drill to commence drilling on November 8, 1995. Diadem continues to hold an 8 percent interest in The Silverstone Prospecting Syndicate. CONTACT: A. C. A. Howe, President Phone: 416-368-7041 or George Silverman, Director Phone: 416-633-7982 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion