Big Red Diamond Corporation
TSX VENTURE : DIA

Big Red Diamond Corporation

September 09, 2010 15:43 ET

Joint Venture Partner Arctic Star Retains Consulting Firm to Evaluate J6L1 Rare Earth Metal Project

MONTREAL, QUEBEC--(Marketwire - Sept. 9, 2010) - Big Red Diamond Corp ("Big Red") (TSX VENTURE:DIA) is pleased to announce that Arctic Star Diamond Corp ("Arctic Star"), which entered into an option agreement on August 31, 2010 to acquire a 50% joint venture interest in our J6L1 Rare Earth Elements, has retained the services of Dahrouge Geological Consulting Ltd. ("Dahrouge Consulting") of Edmonton, Alberta, to review the data that was provided in relation to the 4,715 hectare J6L1 Rare Earth Elements (REEs) project located 52 kilometres northwest of Sept-Iles, Quebec.

The J6L1 property surrounds a showing discovered by Soquem in 1976. Historic trenching assays by Soquem revealed 1.08 percent yttrium (Y), 0.455 percent lanthanum (La), 2.63 percent niobium (Nb2O5), 0.21 percent tantalum (Ta2O5) and 7.62 percent zirconium (Zr). The property's 200 metre proximity from Soquem's main showing indicates a strong potential for a discovery of rare earth elements. This historic data is also available in the review. 

Recent data also available includes a 648 line kilometer airborne survey on the 86 claim property, which was commissioned by Big Red in September, 2009. The airborne survey was carried out by GeoData Solutions GDS Inc. using a high-sensitivity magnetometer to map geology and structure, and using a spectrometer to map radioactive minerals. An independent interpretation of the airborne survey was subsequently compiled by geological consultant Dr. Danielle Giovenazzo, PhD, PGeo.

This report showed several anomalous areas outlined within the survey. The high-resolution spectrometric and magnetometer survey showed the presence of a circular feature, measuring five by five kilometres, with a highly magnetic centre and annular fault, or ring dikes, marking the outer periphery of this complex. Another circular feature was partially covered and is located in the eastern portion of this survey. These circular magnetic patterns are similar to those associated with other REE properties, such as Quest Rare Minerals Ltd.'s Misery Lake project.

Dahrouge Geological was chosen based on their extensive experience with Rare Earths (REEs), and their recent work with Commerce Resources Corp.'s Quebec-based Eldor Rare Earth project where they recently announced results confirming the potential for a significant new REE discovery. Big Red is extremely pleased that Arctic Star has retained the services of an experienced and professional geological consulting firm to aggressively move forward towards this joint venture partnership. 

According to Arctic Star, Mr. John Buckle, P.Geo, a long standing director of Arctic Star Diamond Corp., who consulted Quest Rare Minerals (formerly Quest Uranium) on their REE properties, will be a valuable asset in the progress of the J6L1 Rare Earth's project as a qualified person under National Instrument 43-101.

A program will be announced on the J6L1 Rare Earth (REEs) project following the completion of a compilation review. 

About Big Red Diamond Corporation

Big Red Diamond Corporation is a junior exploration company with exploration projects in the Attawapiskat diamond exploration project located in the Ontario James Bay Lowlands, surrounding De Beers' Victor diamond deposit, near Sept-Iles, Quebec for Rare Earth Elements and in the West Timmins Gold camp.

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