Dianor Resources Inc.
TSX VENTURE : DOR

Dianor Resources Inc.

September 03, 2009 13:52 ET

Dianor Announces Results of Annual Meeting and Updates Shareholders on Ontario and Quebec Diamond Projects

VAL-D'OR, CANADA--(Marketwire - Sept. 3, 2009) - Dianor Resources Inc. (TSX VENTURE:DOR) announces that at the annual general meeting held on August 26, 2009, Dianor's shareholders re‑elected John Ryder, Daniel Duval, Nicholas Houghton, Pierre Paquet, Octavio Soares, Neil Wiener and Werner Zapfe to the Board of Directors. Mr. Ryder is the President and Chief Executive Officer of Dianor and Mr. Duval is the Chairman of the Board and Chief Financial Officer. The shareholders also re‑appointed Samson Bélair/Deloitte & Touche LLP, Chartered Accountants, as auditors of the company.

The Honourable Lawrence C. Kozak, Q.C. did not stand for re-election as a director of Dianor at the annual general meeting. The Board of Directors wishes to thank Mr. Kozak for his valued service to the Company. Mr. Kozak was a director of Dianor from 2007.

PROJECT UPDATES – ONTARIO AND QUEBEC:

LEADBETTER DIAMOND PROJECT:

On-site work consisting of additional environmental data collection as specified in the approved (May 2009) advanced exploration/rehabilitation/closure plans for the extraction and processing of 50,000 tonne of Archean diamond bearing conglomerate from two underground ramps on the Leadbetter Diamond Project located 12 kilometres north east of Wawa in Northern Ontario continues. Planning for a more detailed evaluation of the diamond, ruby, sapphire and gold potential of the unconsolidated "alluvial" material has commenced.

An updated 43-101 report on the Leadbetter Diamond Project is nearing finalization and will incorporate diamond results from the caustically fused core samples from 24 drill holes; indicator mineral data; rubies and sapphire data; gold data; geochemical results of drill cores and surface rock samples plus drilling and ground penetrating radar studies of the unconsolidated "alluvial" sediments. The report is expected to be completed and available on SEDAR by the end of the month.

EKOMIAK V DIAMOND PROJECT:

Phase I field exploration on the Ekomiak V Joint Venture (Metalex Ventures and Wemex) diamond project located 75 kms south of Radisson in James Bay, Quebec was completed September 1st 2009. A total of 12 diamond drill holes totaling 1,239 metres of NQ core were drilled across the outcropping conglomerates to assist in the mapping; structural setting; geology and sub-surface distribution of the diamond bearing conglomerates. Conglomerate was intersected in 11 of the holes and the drill core is in transit to Rouyn-Noranda for detailed logging. Detailed geological mapping, prospecting and rock chip sampling was conducted over a 2 sq. kms area of the property. Detailed mapping outlined an area of outcropping conglomerate 100 metres wide by 500 metres long and 135 rock samples were taken for whole- rock and geochemical analyses to assist in determining future mini-bulk sampling locations.

Jaw and High Pressure Roll crushing of a six tonne sample of diamond bearing conglomerate taken from the location where 94 purple diamonds were recovered from a 26.90 kg surface rock sample (press release August 7th 2008) was completed at UBC, Vancouver. Mineral Services Ltd. completed a preliminary testing on a small portion of the crushed material and has developed a flow sheet for DMS treating of this material to recover diamonds by their DMS mini-plant in Vancouver. DMS work on the crushed 6 tonne sample commenced on September 1st and diamond results are expected within the next two months.

PEM DIAMOND PROJECT:

The first phase of field exploration on Dianor's 100% PEM property adjacent to the Ekomiak V Joint Venture property was also completed on September 2nd 2009. Detailed geological mapping and rock sampling was conducted over the large area of diamond bearing conglomerates centered on the area where 1,286 diamonds were recovered from a single 34.75 kg conglomerate sample(press release May13th 2008). Approximately 800 rock samples were collected for gold, whole-rock and geochemical analyses to assist in determining future mini-bulk sampling locations.

Areas having the potential for gold and base metal mineralization on the PEM were also visited, investigated and sampled. A total of 25 grab samples of rock ( iron formation, rusty outcrops etc) were collected including confirmation samples from two locations where gold values of 13.2 and 6.48 grams per tonne (gpt) Au were reported by a prospector.
Phase II exploration programme will commence upon compilation of the data and results from the current programme conducted on both properties.

Mr. John Ryder, P.Geo is the Qualified Person responsible for the technical contents of this press release.

About Dianor

Dianor is an innovative exploration company focused on advancing diamond exploration properties in the Superior Craton of Canada. The Leadbetter Diamond Project is its most advanced project and is geographically well situated and easily accessible, some 12 kilometres north east of Wawa in Northern Ontario. Substantial exploration work has been conducted on the project since 2005 and in May 2009 the Company received government approval to proceed with a 50,000 tonne bulk sampling programme of the 2.697 Ma old Archean Conglomerate. A preliminary tonnage estimate for this conglomerate is in the range of 549 million to 583 million tonnes (press release July 24th 2007). In addition to diamonds, the conglomerate contains gold, sapphires and rubies (press release January 18th 2007). In 2008 additional diamond discoveries including rare purple diamonds were made by the Company in rocks of similar type, age (Archean) and geological settings (press release March 3rd, April 10th,& May 13th 2008) in Quebec. The Quebec diamond properties have increased our portfolio of low cost, accessible exploration targets. These diamond discoveries (Ontario and Quebec) are both unique and amongst the oldest diamond bearing occurrences in the world.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This news release is not for distribution to United States newswire services or for dissemination in the United States.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

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Contact Information

  • Dianor Resources Inc.
    Mr. John Ryder, P.Geo.
    President
    819-825-7090
    Fax: 819-825-7545
    info@dianor.com

    or

    Dianor Resources Inc.
    Mr. Daniel Duval
    Chairman of the Board
    819-825-7090
    Fax: 819-825-7545
    info@dianor.com

    or

    S.D.N.L. Financial Communication
    Mr. Sylvain Laberge,
    Investor Relations
    514-380-5610
    slaberge@sdnlfinancial.com