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Diamond Discoveries Starts Summer/Fall Exploration Program On Its Caribou Property, Thetford Mines, Quebec, Canada

Stocks in this article: DMDD

  • DMDD prepares detailed surface sampling program, followed by 2,000 meter drill campaign on its Caribou Property for Chrome, PGE and Gold potential

NEW YORK, Aug. 24, 2011 /PRNewswire/ - Diamond Discoveries International Corp. (OTCQB: DMDD), a U.S company focusing on chromium, platinum group elements (PGE) and gold exploration on it's 100% owned Caribou Property in Thetford Mines, Quebec is pleased to announce that it has resumed its exploration program commenced in 2008 that resulted in high chromium values in multiple areas.

The Caribou Property is located approximately 200 kilometers northeast of Montreal, Quebec and at 5 kilometers south of the City of Thetford Mines, Quebec. The property consists of 140 mining claims totalling 6,000 hectares.

The property is located within the Southern Québec Ophiolite Belt which is characterized by several exploration and exploitation programs that were completed on the property and in the area from 1835 until today. Several types of mineralization are present and are well described in the NI 43-101 Technical Report on the Caribou Property prepared by A. Geologica Group-Conseil Inc.(2008). An updated NI 43-101 is expected within the next 4-6 weeks.

More than eleven (11) known chromite occurrences are recognized and defined on the Caribou Property (Montréal Mine, Caribou Mine, American Chrome Deposit, American Chrome Jr., Finneth, César, Dumais, Vaillancourt, Gagné, Greenshields and Lambly-Nadeau/ Victoria Mines). The results of the past and recent work are very interesting and significant for the Company since they not only confirm the presence of chromite on the Caribou Property, but also seem to show that most of the occurrences have PGE mineralization content.

As presented in our past press release, Six (6) samples from the American Chrome Junior returned high chromium values with composite assays of 10.72% Cr2O3 over 5 metres and .4 g/t PGE (Platinum, Palladium and Rhodium). This composite include 1 metre grading 21.47% of Cr2O3 and .5 g/t PGE.

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