Delrand Resources Limited

TSX : DRN
JSE : DRN


Delrand Resources Limited

December 09, 2013 08:00 ET

Delrand Updates DRC Diamond Exploration Activity

- Delrand has identified and targeted a prospective area for ground geophysical survey during December 2013 and January 2014.

- The remaining laboratory analysis and ground magnetic survey, which are necessary before commencing a drilling programme, will be completed in early 2014.

TORONTO, ONTARIO--(Marketwired - Dec. 9, 2013) - Delrand Resources Limited ("Delrand" or the "Company") (TSX:DRN)(JSE:DRN) provides an update on its diamond exploration activities in the Democratic Republic of the Congo (the "DRC").

Following the positive results from the reconnaissance sampling programme in 2008/2009, the follow up mission in 2011, and the detailed follow up programme in 2012, Delrand's field geologists returned to a promising exploration licence area in the Bomili project in August 2013. Over the area of interest they collected several check samples where most of the previous samples had identified the presence of abundant kimberlitic ilmenite. Several of the 30-litres samples collected during those preceding programmes contained up to 25 ilmenite grains. The objective of this programme was to collect some check samples in order to position a ground geophysical survey block which is planned for December 2013 and January 2014.

Since the general area is underlain by mature laterites, which have developed on Lindian sandstones overlying Archaean basement, most kimberlitic garnets, as is the case over the Coexco ground just to the south of Bomili, would have been chemically destroyed in this profile and therefore ilmenite is going to be the main pathfinder for kimberlites in this region. The results of the check samples indicated that half of these were positive in terms of kimberlitic ilmenite. The surface textures of these grains have been described in detail and are characterised by 'sculptured surfaces'. These surfaces are remnant of their original surfaces which indicates that these grains have not travelled far from their primary kimberlite source(s).

The Company will now be taking the following steps before a drilling programme can commence. Firstly, these grains will be submitted to the micro-probe to verify their chemistry in order to classify them in terms of their provenance and interest level. At the same time the Company is mobilising its geophysical team to conduct a ground magnetic survey over an area of 5 kilometres by 5 kilometres that is located over the samples that returned these un-abraded grains. For this the Company will be using its own magnetometers and it is hoped to have this programme completed by early February of 2014.

Commenting on this programme Dr. Mike de Wit, the Company's President, said: "Despite challenging market conditions, Delrand has been able to maintain a focused exploration programme towards its ultimate goal of finding a primary kimberlite source for alluvial diamonds in the DRC. The on-going positive results are encouraging."

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 disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated September 27, 2013 filed in SEDAR at www.sedar.com. 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:
    Tom Sipos
    (416) 366-2221 or 1-800-714-7938

    In Johannesburg and the DRC:
    Brian P. Scallan
    Vice President, Finance
    +27 82 902 6273 or +243 991772978