New Nadina Explorations Limited

New Nadina Explorations Limited

March 29, 2007 12:45 ET

New Nadina Gives Update on Monument Property, Northwest Territories, Canada and Announces New Partner

GREENWOOD, BRITISH COLUMBIA--(CCNMatthews - March 29, 2007) - New Nadina Explorations Limited (the "Company") (TSX VENTURE:NNA) and partners are pleased to report exploration progress at Monument Diamond Project at Lac de Gras, Northwest Territories.

Diamond drilling on the DD17 kimberlite pipe commenced on March 5, 2007. Three HQ diamond drill holes have been completed so far. Two drill holes were completed as of March 21, with 650 kg of kimberlite cored. The fourth drill hole is underway and nearly completed. Each of the completed vertical drill holes cored kimberlite from start to finish. Upon completion of the fourth hole the diamond drill is scheduled to leave the property for another job. The drill core has been transported to Yellowknife for logging and sampling. Details of drill intercepts and the amount of kimberlite sampled will be released upon completion of core logging. Microdiamonds recovered from kimberlite DD17 this sample will be used to estimate a model diamond grade for kimberlite pipeDD17.

Drilling will resume in summer to test new targets. Ground magnetic surveys using a skidoo and "dogsled" are underway to complete the geophysical program cut short by warm weather last spring. About 800 line kilometers of surveying will be completed. Compilation of current data shows weak magnetic anomalies in airborne magnetic data that are associated with new kimberlite indicator dispersal trains returned from recent till sampling results. Ground surveys will improve resolution of these anomalies, and upgrade them to diamond drill targets that will be selected for drill testing in summer 2007.

As well, crews are relocating a camp acquired from Diavik Diamond Mines Inc. to the Monument Property. The new camp will be well suited to larger exploration campaigns, and will provide comfortable, efficient housing to crews for future use.

We are pleased to report that SouthernEra Diamonds Inc. ("SouthernEra") has advised the Monument project partners that Dr. Christopher M. H. Jennings, Chairman of SouthernEra, has acquired SouthernEra's 22.11% interest in the Monument diamond project in an agreement dated 9th March 2007.

Dr. Jennings stated: "I am delighted to have acquired a 22.11% interest in the Monument diamond play in the Lac De Gras kimberlite field where I was one of the original diamond explorers. I look forward to working together with Ellen Clements of New Nadina and Stu Blusson of Archon Minerals to test the known pipes and I believe that the potential to discover another significant diamond deposit in the area remains high."

Jennings joins owners New Nadina Explorations Limited 57.49% and Archon Minerals Ltd. 20.4%. A 1% Royalty is payable to each Kennecott Canada Exploration Inc. and DHK Diamonds Inc. The project operator is New Nadina, and supervision is by Mr. K. R. Kivi, P.Geol., an independent Qualified Person as defined by National Instrument 43-101. Mr. Kivi has reviewed the content of this news release.


Ellen Clements, Director, President & CEO

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

Contact Information

  • New Nadina Explorations Limited
    Ellen Clements
    Director, President & CEO
    (250) 445-2260 or Toll Free: 1-800-856-3966
    (250) 445-2259 (FAX)