Talmora Diamond Inc.

CNSX : TAI


September 27, 2013 17:00 ET

Talmora Recognises Diamond-Inclusion Type Ilmenites on Its Horton River Property

TORONTO, ONTARIO--(Marketwired - Sept. 27, 2013) - Talmora Diamond Inc. (CNSX:TAI) is pleased to release further results of kimberlite indicator mineral (KIM) analyses received from De Beers Analytical Services, Johannesburg, South Africa.

As reported on September 16, the majority of the KIMs recovered from samples collected in 2012 are spinels with a significant number of picro-ilmenites and garnets. One of nine pyrope garnets has a G-10 composition and an eclogitic garnet lies within the diamond inclusion field of the TiO2 vs Na2O diagram. Prompted by a timely (September 18) Pangolin Diamonds Corp. press release, announcing discovery of manganese-rich diamond-inclusion type ilmenites in Botswana that are known to be associated with kimberlites and diamonds from Guanaimo, Venezuela and Juina, Brazil, 5 similar Mn-ilmenites were found among the current analyses of grains from Talmora's Horton River area in the Northwest Territories.

There is evidence of lateritic weathering in the Horton River area about 55 million years ago that destroyed silicate KIMs such as garnet and chrome diopside and appears to destroy G-10 garnet preferentially. Dr. Felix V. Kaminsky and associates, who are responsible for much of the research done on Mn-ilmenites, stress the importance of this new kimberlite/diamond indicator mineral because it survives weathering in tropical environments.

A review of non-picroilmenites found in earlier samples from the Horton River area identified 47 grains from glacial till that have 0.4 weight percent MnO or more, the range of compositions found in the Guanaimo and Juina kimberlites. A significant surprise was finding an additional 17 Mn-ilmenites in cuttings from Packsack drill holes that penetrated through the glacial till into clay that is believed to be weathered kimberlite. The compositions of 7 of these Mn-ilmenites are similar to those found as inclusions in diamonds and all lie on a straight line when TiO2 is plotted against FeO suggesting a single population. Hole THD-3 contained 2 Mn-ilmenites (including 1 with diamond inclusion composition), hole THD-4 contained 12 Mn-ilmenites (including 6 with diamond inclusion composition), 14 spinels and 1 picro-ilmenite and THD-5 contained 3 Mn-ilmenites and 1 picro-ilmenite.

After dissemination of the news in this press release, consideration will be given to reopening the small private placement financing that has been interrupted by receipt of significant sample results. Talmora urgently needs to drill some of its targets to recover fresh kimberlite for microdiamond analysis. A major financing for a drill program must still be completed and its timing will depend on the global financial situation.

Project Summary

Talmora holds 211 mineral claims (68,784 acres) straddling the 68th parallel on the east side of the Lena West diamond area of the Northwest Territories. Most of the claims are in the Inuvialuit Settlement Region with the remainder in the Sahtu Settlemment Region.

Over $75 million has been spent in the Lena West area by other companies with the recovery of numerous kimberlite indicator minerals (KIMs) and an unprecedented 18 diamonds in field samples. No kimberlites have been found except for the Darnley Bay and the Dharma kimberlites on a well-defined favourable structure that includes the Talmora property.

Sampling on the Talmora property shows a strong correlation between KIMs in till samples and magnetic anomalies with characteristics of kimberlite pipes. The majority of Lena West KIMs (those west of Talmora) are very similar to those from the Talmora property but differ from those of the Darnley Bay and Dharma properties. There is every reason to believe that the Talmora property may be the source of the abundant KIMs and diamonds of Lena West.

The 2012 field program included the use of a small Packsack drill which penetrated the glacial till in 3 holes and ended in clay that has characteristics of weathered kimberlite and all three holes contain anomalous KIMs derived from a nearby source. The Talmora property must now be tested with a proper drill in order to obtain fresh kimberlite for microdiamond analysis.

The technical information contained in this release was compiled by Alan W. Davies, P.Eng., P.G., who is the Vice-President of Exploration for Talmora. Alan W. Davies is a qualified person as defined by National Instrument 43-101.

References:

Kaminsky, F.V., Zakharchenko, O.D., Griffin, W.L., Channer, D.M.D., and Khachatryan-Blinova, G.K. (2000) Diamond from the Guanaimo area, Venezuela. The Canadian Mineralogist, v. 38, pp. 1347-1370.

Kaminsky, F.V., Zakharchenko, O.D., Davies, R., Griffin, W.L., Khachatryan-Blinova, G.K., and Shiryaev, A.A. (2001) Superdeep diamonds from the Juina area, Mato Grosso State, Brazil. Contributions to Mineralogy and Petrology, v. 140 (6), pp. 734-753.

Kaminsky, F.V. and Belousova, E.A. (2009) Manganoan ilmenite as kimberlite/diamond indicator mineral. Geologia I Geofizika (Russian Geology and Geophysics), v. 50 (12), pp. 1212-1220.

Pangolin Diamonds Corp. (September 18, 2013) Pangolin discovers volcanic intrusion with diamond-inclusion type ilmenites at its Mmadinare project, Botswana. Press Release.

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Contact Information

  • Talmora Diamond Inc.
    Raymond Davies
    President & CEO
    416-491-6771