Dianor Resources Inc.
TSX VENTURE : DOR

Dianor Resources Inc.

March 02, 2009 08:30 ET

Bulk Sampling Plan Filing and Final Drilling Results Confirm High Diamond Grades in Conglomerate

VAL-D'OR, CANADA--(Marketwire - March 2, 2009) - THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Dianor Resources Inc. (TSX Venture Exchange:DOR) is pleased to announce the completion of investigations and studies required for filing two advanced exploration plans of the Leadbetter Diamond Project near Wawa, Ontario. In addition, final diamond results from the Leadbetter NQ drilling programme received from SGS Lakefield indicate that the main Archean conglomerate unit (S1C) in individual drill holes returned diamond grades of up to 90 carats per hundred tonnes (cpht) for commercial sized diamonds.

On the Leadbetter Diamond Project the Dianor team and its consultants in the environmental, mining engineering and mineral processing fields have completed their investigations and studies required for the two advanced exploration/rehabilitation/closure plans prior to a formal submittal to the Director Mineral Development and Lands, Ontario Ministry of Northern Development and Mines, (press release November 28th 2008). Dianor's target date for submitting these certified plans is the 25th of March 2009. Approval of these plans is an Ontario regulatory requirement, before advanced exploration projects are permitted to start. The bulk sampling programme is designed to excavate up to 50,000 tonnes of diamond bearing conglomerate from two underground ramps located in the Northern and Central Sectors; to extract the diamonds by on-site DMS processing in order to accumulate parcels of diamonds between 12,000 to 20,000 carats from the Archean conglomerate to determine diamond grade and pricing that can be used to appraise the feasibility of the project (press release August 21st 2008).

All outstanding diamond results for the caustically fused quality control samples (QA/QC) have been received from SGS Lakefield. Of the 101 NQ drill holes drilled on the Leadbetter property, split NQ cores from 24 drill holes were caustically fused to recover diamonds. The results tabulated below are for 8 of the 24 holes for which all of the data has been received and compiled.



TABLE I: DIAMOND GRADE FOR NQ DRILL HOLES - LEADBETTER PROJECT

-------------------------------------------------------------------------
Greater Greater Greater Greater
Than Than Than Than
425 425 850 850
Drill Hole Rock Intercept microns microns microns microns
Number Unit From To (m) Stones Grade Stones Grade
(cpht) (cpht)
-------------------------------------------------------------------------
Chab.05-08 S1C 0.30 27.00 26.70 14 51 2 18
Chab.05-09 S1C 3.00 57.10 54.10 35 103 4 62
Chab.05-10 S1C 0.70 138.00 137.30 84 80 8 38
Chab.05-11 S1CV 30.80 44.96 14.16 11 88 2 58
Chab.05-11 S1C 77.54 241.90 164.36 86 54 5 20
Chab.05-12 S1C 213.37 417.15 203.78 153 127 21 74
Chab 05-13 S1C 376.50 484.00 107.50 71 57 4 11
Chab 05-20 S1C 169.60 237.20 67.60 34 128 6 90
Chab 05-21 S1C 40.30 266.50 226.20 125 76 16 39
-------------------------------------------------------------------------

Note: NQ drill core = 47.6mm diameter.

- Cpht = carats per hundred tonne ; 1000 microns = 1
millimetre

- greater than 850 microns = greater than 0.85mm = commercial sized
diamonds;

- S1C = Main Leadbetter Conglomerate unit; S1CV = Lower Leadbetter
Conglomerate unit


The overall diamond grade for the drill intersected conglomerate units in the above 8 drill holes is 44 cpht. This is some 30% to 40% higher than that obtained from mini-bulk sampling where results from 6 tonne conglomerate rock samples processed at SGS Lakefield returned an average diamond grade for all conglomerate samples of 26 cpht. Diamond results for larger mini-bulk samples (70 tonnes) processed by Kennecott Canada Explorations Inc. returned an overall average diamond grade of 30 cpht.(43-101 compliant report "Preliminary Tonnage Estimate for the Diamondiferous Conglomerates of the Leadbetter Diamond Project" dated August 29th 2007 and prepared for Dianor Resources Inc. by Verley, D'Amours and Martel.). The mini-bulk samples represent approximately one metre slices through the conglomerate body while the drill cores (continuous samples) are truly representative of the full intersected conglomerate body. Compilation of the remaining diamond data for the drill holes will assist in clarifying the overall prospective diamond grade for the conglomerate body.

Dianor would also like to clarify certain disclosure in its press release of December 4, 2008 relating to the number of common shares issued to the optionors of the Leadbetter Property and Leadbetter Extension Property in 2008, namely that the total number of common shares issued on January 15, 2008 was 1,652,060 and not 1,239,045, as previously disclosed.

Dianor is an innovative exploration company focused on advancing diamond exploration properties in Canada. The Leadbetter Diamond Project is its most advanced project and is located 12 kilometres north east of Wawa in Northern Ontario. Substantial exploration work has been conducted on the property since 2005 and the Company is in the process of permitting a 50,000 tonne bulk sampling programme. In addition to diamonds, it contains gold, sapphires and rubies (press release January 18th 2007). New diamond discoveries including rare purple diamonds, by the Company in rocks of similar type, age (Archean) and geological settings (press release March 3rd, April 10th,& May 13th 2008) in Quebec have added further diamond properties to 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.3

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

You can also visit our Web Site: www.dianor.com

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.

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Contact Information

  • Dianor Resources Inc
    Mr. John Ryder, P.Geo.
    President
    819-825-7090
    819-825-7545 (FAX)
    info@dianor.com
    or
    Dianor Resources Inc
    Mr. Daniel Duval
    Chairman of the Board
    819-825-7090
    819-825-7545 (FAX)
    info@dianor.com
    or
    S.D.N.L. Financial Communication
    Mr. Sylvain Laberge
    Investor Relations
    514-380-5610
    slaberge@sdnlfinancial.com