Diadem Resources Ltd. - Diamond Drilling Commenced at Belitung Island, Indonesia Diadem Resources Ltd. - Diamond Drilling Commenced at Belitung Island, Indonesia.TORONTO--(BUSINESS WIRE)--July 16, 1996--DIADEM RESOURCES(ME: DIR 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 LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . is pleased to announce that on July 5th diamond drilling commenced at Belitung Island, Indonesia to confirm the tonnage and grade potential of the zinc-lead-silver deposit. Diadem holds 30 percent of this property in joint venture with Bresea Resources Ltd. (BSR BSR Business for Social Responsibility BSR Baltic Sea Region BSR British Society for Rheumatology BSR Bootstrap Router (networking) BSR Bonsoir (French) BSR Bottom-Simulating Reflector .ME) (60 percent). Bre-X Minerals Ltd. (BXM BXM Broadband Switch Module (Cisco) .TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ) is the joint venture operator. It is anticipated that Bre-X will present an up-to-date report on Belitung Island next week. Work has also commenced in Kalimantan on Diadem's (30 percent) three joint venture properties with Bresea (30 percent) and Tandem Resources Ltd. (TDM (Time Division Multiplexing) A technology that transmits multiple signals simultaneously over a single transmission path. Each lower-speed signal is time sliced into one high-speed transmission. .ME) (25 percent). Bre-X is also the operator of these three joint ventures and will be presenting an up-to-date report shortly. At Pekan River, in the Quebec/Labrador area, mobilization is underway to resume drilling of Diadem's (90 percent) copper-nickel deposit. Also, seven kilometres south of the Pekan River property, at the newly acquired Sarah Lake property (formerly known as the Lac Edgar property), assays and other data from an initial reconnaissance survey have been received. The Sarah Lake property was acquired to obtain exploration rights to a large differentiated mafic and ultramafic sill known to carry widespread copper-nickel-precious metal mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . The objective of the Diadem exploration is the location of enriched areas at the base of the sill, similar to the Diadem project at Pekan River. Thirteen random sites were sampled from one square kilometer of the five-square-kilometer intrusive. All sites showed copper mineralization ranging from 0.10 percent to 0.75 percent and nickel mineralization ranging from 0.01 percent to 0.06 percent. Five of the sites averaged from 0.45 percent to 0.50 percent copper. The area average is 0.50 percent copper. Cobalt is present in minor amounts. These sites were concentrated in the upper part of the sill, where values are expected to be lower than in the basal portion. The gold, palladium and platinum assays have not yet been received. Prior samples of disseminated copper nickel mineralization from the property have shown analyses of 0.50 grams (0.014 ounces) of gold, 0.39 grams (0.011 ounces) of palladium, and 0.43 grams (0.012 ounces) of platinum and 3.5 grams (0.10 ounces) of silver per tonne. The next stage of the Diadem activity on this project will be detailed mapping to determine geological structure, in order to design a drilling program. Diadem also wishes to report that 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 has selected to list call and put options on the common shares of Diadem Resources Ltd. Trading commenced on July 11, 1996. Diadem is pleased that this new investment strategy is available to the Company's investors. -0- The Company's news releases are now available through Canadian Corporate News' Internet Home Page: http://www.cdn-news.com CONTACT: Diadem Resources Ltd. George Silverman, 416/633-7982 416/633-5534 (Fax) or Diadem Resources Ltd. Lina Noble, 416/284-9392 416/286-0795 (Fax) INTERNET: http://www.diademresources.com E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : info@diademresources.com |
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