TORONTO, ONTARIO -- (Marketwire) -- 02/01/13 -- Debut Diamonds Inc. (CNSX: DDI) (the "Company" or "Debut") announces its Phase 1 diamond drill program has commenced on its Timmins South Property, located 50 km south of Timmins, Ontario.
In December 2012, a total of 20 kilometres of IP surveying was completed by Exsics Exploration Ltd. Several high priority IP anomalies over a strike length of approximately 1.5 kilometres were identified, with some of the anomalies being associated with anomalous surface gold samples that were collected during the 2012 work program.
A minimum of 800 meters of diamond drilling has been allocated to testing several chargeability anomalies suggestive of sulphide mineralization.
The company has implemented a quality assurance and quality control program to ensure that the sampling and analysis of all samples is conducted in accordance with the best possible practices.
The Timmins South Project is managed by Joerg Kleinboeck, P.Geo, a Qualified Person as defined by National Instrument 43-101, and has approved the technical contents of this press release.
The Company's Wawa Joint Venture with Cliffs Chromite Far North Inc. ("Cliffs") has been terminated, effective December 31, 2012. Cliffs was Operator of the project and Debut has decided not to pursue the presently available licenses on its own.
The Company also announces the resignation of Mr. Christopher Meraw as President. The Board of Directors wishes to thank Mr. Meraw for his dedicated service.
About Debut Diamonds
Debut has joint venture and wholly owned exploration properties, which include the previously discovered MacFadyen Kimberlites and the Victor West, Uniform Surround and Pele claim blocks, contiguous to De Beers' Victor Mine west of James Bay Ontario. The Nakina Project, DIAGNOS Initiative, Kyle Kimberlites and Canada Chrome Soil Sampling joint venture are also located in the James Bay lowlands. The Company's Timmins South Gold project is located south of Timmins, Ontario.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The foregoing information contains forward-looking statements relating to the future performance of Debut Diamonds Inc. Forward-looking statements, specifically those concerning future performance, are subject to many risks and uncertainties, and actual results may differ materially from Debut Diamonds Inc. plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Debut Diamonds with the CNSX Exchange and securities regulators. Debut Diamonds does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Shares issued and outstanding: 54,790,934
Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
Debut Diamonds Inc.
VP Corporate Communications
Most Popular Stories
- PBS Series Examines America's Demographic Shift
- Tim Cook Has Proved That Apple is His Baby
- Royals Beat A's in 12-inning Wild Card Thriller
- Construction Spending Down Again for August
- Texas Sees Gains in Hispanic College Enrollment
- Americans Bet Big on Gambling Industry
- California's Ban on Plastic Bags: What Now?
- Petri Likely Broke House Ethics Rules
- Exxon Gives Nod to Fracking Risks
- Morgan: 'Can't Believe' Wal-Mart Blaming Him