Delrand Resources Limited
TSX : DRN
JSE : DRN

Delrand Resources Limited

May 30, 2013 07:00 ET

Delrand Resources Identifies Numerous High-Interest Diamond Targets for Follow-Up Work

TORONTO, ONTARIO--(Marketwired - May 30, 2013) - Delrand Resources Limited (TSX:DRN)(JSE:DRN) -

  • Delrand has identified numerous high-interest targets for further follow-up work subsequent to a review of a large diamond exploration database, as part of an agreement with Rio Tinto, covering areas in southern DRC well in excess of 100,000km².

Delrand Resources Limited ("Delrand" or the "Company") reports progress on its diamond exploration activities in southern Democratic Republic of the Congo (the "DRC").

Exploration work continues in the Kasai region of the southern DRC, where Delrand has signed an agreement with Rio Tinto to interpret a large diamond exploration dataset that covers areas well in excess of 100,000km² (the "Agreement Areas") which were explored between 2004 and 2008 by a number of companies using modern exploration techniques. The work has so far identified numerous permits with samples that contain lherzolitic garnets formed under minimum pressures of 53.4 kilobars and hence well within the diamond stability field. These garnets, which are also associated with abundant kimberlitic ilmenite, are therefore likely to be derived from kimberlites that are diamond-bearing.

This data in conjunction with Delrand's own large database, which it has built up since 2004 from its own program of stream and soil sampling and airborne and ground geophysical surveys, provides Delrand with the largest exploration database for diamonds over one of the most prospective and least explored areas in the world - the Kasai Craton, producer of most of the DRC's historical production of over 1.2 billion carats. Through this arrangement, the Company will earn into any discoveries that result from this work over the Agreement Areas.

Commenting on recent exploration activities Dr. Mike de Wit, the Company's President, said: "Delrand has a focused exploration programme assisted by its agreement with Rio Tinto. Delrand has itself amassed and obtained access to a considerable amount of exploration data. The Company is now processing and further exploring arguably one of the most comprehensive DRC diamond exploration data bases that have ever been assembled."

Qualified Person

Dr. Mike de Wit, President of the Company and a "qualified person" (as such term is defined in National Instrument 43-101), has reviewed and approved the technical information in this press release.

Delrand Resources Limited is an African-focused mineral explorer with diamond exploration projects in the Democratic Republic of the Congo. The Company also has an iron ore exploration project and other mineral projects are under consideration. Led by an experienced board and management team with a successful track record of exploration and mine development in Africa, the Company works in a systematic and responsible manner to discover, assess and develop mineral resources for the benefit of its shareholders and local stakeholders.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to exploration results, potential mineralization and plans and objectives with respect to mineral exploration) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with expectations, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, changes in commodity markets, foreign currency fluctuations, political developments in the DRC, changes to regulations affecting exploration or development activities, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting geological data and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

For further information, please visit our website, www.delrand.com.

Contact Information

  • In Toronto: Delrand Resources Limited
    Tom Sipos
    (416) 366-2221 or 1-800-714-7938

    In Johannesburg and the DRC: Delrand Resources Limited
    Brian P. Scallan
    Vice President, Finance
    +27 82 902 6273 or +243 991772978
    www.delrand.com