Big Red Diamond Corporation
TSX VENTURE : DIA

Big Red Diamond Corporation

March 02, 2009 08:57 ET

Big Red Diamond Corporation: The completion of a 43-101 for its Bristol Project

MONTREAL, QUEBEC--(Marketwire - March 2, 2009) - Big Red Diamond Corporation ("BRDC") (TSX VENTURE:DIA) is pleased to announce that the NI 43-101 report, prepared by G.A. Harron & Associates Inc ("G.A. Harron P.Eng."), for the Bristol project is now available on SEDAR and on our website (www.bigreddiamond.com). The wholly-owned property is located approximately 550 km northwest of Toronto, Ontario. The Project consists of two claim blocks. The larger block consists of 11 un-surveyed contiguous claims containing 65 claim units covering approximately 1,040 ha, within Bristol and Godfrey townships. The smaller block consists of 2 unsurveyed contiguous claims containing 8 claim units covering approximately 128 ha in Carscallen Township. Both properties are located within the Porcupine Mining Division approximately 17 km west of the Town of Timmins.

The presently producing Kidd Creek Mine is located approximately 30 km northeast and the past producing Kamkotia Mine and Genex Mine are approximately 13 and 3 km respectively north of the Bristol Project. Lake Shore Gold Corp is developing the Holmer gold deposit in southwestern Bristol Township, approximately 6 km south of the Bristol Project. Vehicle access to the project can be achieved by following Highway 101 west from Timmins and turning north onto the Malette Lumber Access Road that departs the highway on the boundary between Bristol and Ogden townships This all weather road follows the Bristol Township / Godfrey Township boundary and bisects the BRDC claims, approximately 15-17 km west of Timmins. Carscallen Township claims are also accessible from this road.

Both mining claim groups are underlain predominately by rhyolite and other felsic fragmental rocks of the Upper Blake River assemblage. This assemblage is the host of world-class base metal massive sulphide and gold-rich massive sulphide deposits in other areas of the Abitibi Greenstone Belt. This project offers the opportunity to explore for similar deposits. There is a depleted base metal massive sulphide deposit approximately 3 kilometers to the north and a developing gold mine approximately 6 kilometres south of the BRDC property.

Based on the potential to discover both base metal massive sulphide and gold deposits in the project area, the proposed phased exploration programs are warranted.

Proposed exploration programs for both claim blocks include grid establishment, ground magnetic survey, and deep penetrating electromagnetic loop survey to search for conductive zones at depth. An induced polarization survey is also recommended to help focus on exploring the gold potential of the property.

Contingent upon the results of the Phase I program a Phase II exploration program, comprised of 2,000 m of diamond drilling is proposed to test geophysical features interpreted to be associated with economic mineralization.

This press release has been prepared by management of Big Red Diamond Corporation ("BRDC") and has been approved for dissemination by Clinton Barr P. Geo, Director of BRDC and a Qualified Person as such term as defined under National Instrument 43-101, who has reviewed and verified the technical information contained in this press release and has approved the contents of this press release.

Shares issued and outstanding : 55, 505,170

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release

Contact Information

  • Michael Neary
    Director
    416-277-9700
    416-493-0070
    or
    Martin Nicoletti
    Chief Financial Officer
    514-907-9016, Ext. 160
    514-907-9017 (FAX)
    www.bigreddiamond.com