Drilling Report
SouthernEra Diamonds Reports Discovery of New Diamondiferous Kimberlite
and Microdiamond Results from its Lac de Gras Project, Northwest
Territories, Canada
Shares Issued and Outstanding: 86,633,701
TSX: SDM
AIM: SRE
TORONTO, Feb. 24 /CNW/ - SouthernEra Diamonds Inc. (SDM: TSX, SRE: AIM)
today reported the discovery of a new diamondiferous kimberlite and
microdiamond results from the Company's 60 percent owned Lac de Gras X Claim
Diamond Project in Canada's Northwest Territories, located 25 kilometers west
of the Diavik Diamond Mine.
During 2004 at the Lac de Gras X Claims Project, a 824.7 meter diamond
drilling program was completed to test selected high interest airborne targets
and to re-test the known kimberlite pipe, EG02. The drilling program resulted
in the discovery of a new diamondiferous kimberlite pipe, EG-01B. In drill
hole LDG04-05, an -90 degree hole, kimberlite was intersected from
23.40 meters to 74.70 meters. The previously known pipe, EG02, was re-drilled
and intersected kimberlite from 14.30 meters to 87.30 meters in drill hole
LDG04-09, an -90 degree hole. Representative kimberlite samples from both
pipes were sent for micro-diamond processing to the Saskatchewan Research
Council Laboratory in Saskatoon. The results are presented in Table 1.
Table 1. Square Mesh Sieve diamond results for Pipes EG-01B and EG-02.
-------
-------------------------------------------------------------------------
Sample
Sample Wt. +0.105 +0.150 +0.212 +0.300 +0.425 +0.6
(kg) mm mm mm mm mm mm TOTAL
-------------------------------------------------------------------------
EG-01B 41.6 1 0 0 0 0 0 1
-------------------------------------------------------------------------
EG-02 71.55 5 4 2 2 0 1 14
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To date, six kimberlite pipes have been discovered at the X Claims
Project of which four are diamondiferous. SouthernEra will continue to focus
on locating the kimberlite pipe sources to the unexplained indicator mineral
trains previously defined by sonic and reverse circulation drilling at the Lac
de Gras Project. Ten selected airborne targets will be tested during the
upcoming winter season with ground geophysics followed by drill testing of
positive targets. Based on the overall diamond results no further testing of
pipes EG-01B and EG-02 is warranted at this time.
The Lac de Gras X Claims Project is part of SouthernEra's extensive
Northwest Territories diamond exploration program, which is one of the largest
active programs in the region (see below for link to map). This program is
focused on the Lac de Gras Kimberlite Field, host to Canada's two existing
diamond mines (Diavik and Ekati) as well as the Southern Kimberlite Field,
located approximately 100 kilometers south of the Diavik mine. Within the
highly prospective Lac de Gras region, the Company's program includes:
- Lac de Gras X Claims Project (60 percent SouthernEra);
- Yamba Lake(60 percent);
- Monument Project (22.5 percent);
- Tenby Project (20 percent);
- ATW Project (10 percent);
- Commonwealth Project (10 percent); and
- WO Block Project (4.9 percent).
On the Southern Kimberlite Field, SouthernEra's program includes the Back
Lake Project(60.4 percent) and the Kidme Block Project (60 percent).
Exploration programs on the Lac de Gras, Yamba Lake, Monument, WO Block, Back
Lake and Kidme projects will be conducted from March to mid-May and will be
reported on as results become available.
Mr. Uwe Naeher, Professional Geologist, is the qualified person, under
NI 43-101, responsible for the technical information in this release.
SouthernEra Diamonds is one of Canada's largest fully integrated diamond
companies with extensive diamond exploration in five countries, including
Canada, Australia, Gabon, the Democratic Republic of the Congo and South
Africa. This represents one of the most active global diamond exploration
programs. The Company also operates the Klipspringer Diamond Mine in South
Africa and maintains an 18 percent free-carried interest in the Camafuca
Diamond Project in Angola.
(Link to map: www.southernera.com/operations/map_nwt_claims.html)
Some statements contained in this news release are forward-looking and,
therefore, involve uncertainties or risks that could cause actual results to
differ materially. Such forward-looking statements include comments regarding
exploration work. Actual results could differ materially from those
anticipated. The Company disclaims any obligation to update forward-looking
statements.
For further information: PLEASE CONTACT: SouthernEra Diamonds Inc.,
Howard Bird, Vice President Exploration; or Sharon Allan, Investor Relations,
Telephone: (416) 359-9282, Fax: (416) 359-9141, e-mail:
inbox(at)southernera.com
(SDM.)
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