| ||Thu Apr 15, 2004|
Diamond Fields Announces Acquisition of Nickel-Copper Project in Norway
| ||Vancouver, April 15, 2004---Diamond Fields International Ltd. (DFI: TSX) is pleased to announce the acquisition of the OGNA Nickel-Copper project in southwestern Norway consisting of the Bjorndalsnipa (Ni, Cu) and Gulldragsvatn (Ni, Cu, Ti) properties. DFI plans a drilling exploration program on promising geophysical targets in pervasively altered and mineralized intrusive rocks of the Rogaland Intrusive Massifs, commencing in mid May 2004. The properties are subject to a 1% net smelter royalty.|
The OGNA Nickel-Copper project covers geophysical anomalies located in an intrusive complex comprising anorthosites, norites and related rocks, collectively called the Rogaland Intrusive Masses. The oldest massif of the complex, the Ogna -- Egersund massif (1000 -- 1300 m.y.) hosts several nickel-copper occurrences. The area's largest known nickel occurrence, Homse, is interpreted to be a xenolith of massive sulphide torn off a larger body at depth. Homse massive sulphides are reported to contain 1.06% Ni and 1.20% Cu (Sverdup, 1972).
DFI will concentrate its drilling on a geophysical anomaly 800m to the east of Homse called Bjorndalsnipa where drilling in 1974, although misdirected parallel to the dip of the targeted geophysical anomalies, penetrated pervasive nickel-copper mineralization. The DFI drill program is targeting geophysical anomalies which may represent the massive sulphide body from which the Homse xenolith has been torn.
The second area of interest, Gulldragsvatn (approximately 4.5 km WNW of Bjorndalsnipa), represents a potentially major accumulation of nickel, copper and titanium enriched sulphides. The targeted geophysical anomaly associated with this trend extends for 800m along strike and its top occurs approximately 50m down dip. The anomaly is encased in a 200m wide zone of goethite alteration (after sulfides) that extends for more than 1800m along strike. Drilling will identify the mineralization that is the source of the geophysical anomaly.
Mr. Randal Cullen, MSc MBA, P.Geol, Chief Geologist for Diamond Fields International, is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Diamond Fields.
Diamond Fields International Ltd. is an internationally active exploration and mining company pursuing diamond and nickel opportunities worldwide. The Company's corporate strategy is to maximize cash flow from its Namibian marine diamond concessions and systematically explore and develop its international diamond and nickel projects. In addition, the Company continues to explore opportunities to acquire new economic mineral projects worldwide.
DIAMOND FIELDS INTERNATIONAL LTD.
"Gregg J. Sedun"
Gregg J. Sedun,
President, Chief Executive Officer and Director
For further information contact: Investor Relations (1-888-682-2113)
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Diamond Fields' periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation to update any forwardlooking statement. All dollar amounts are reported in U.S currency unless otherwise indicated
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