Just a Drop in the Bucket!for Insider selling could be just to make a trade at a dime afterall 20000 shares is "spare change" for the Hughes
Below is the recent news from WAWA by Dianor
Val-d’Or, Canada – 23rd April 2007 – Dianor Resources Inc. (DOR: TSX Venture Exchange) is
pleased to inform its shareholders that it has received the preliminary tonnage estimate for the diamond
bearing Leadbetter Conglomerate on its Leadbetter Diamond Property located 12kms north east of the
town of Wawa, Ontario. A geological estimate of 566 million tonnes has been independently calculated
for the three units (S1C, S1CO and S1CV) comprising the diamond bearing Leadbetter Conglomerate.
The Company has been informed by Kennecott Canada that a second large diamond, a 1.0105 carat
diamond, was recovered during picking of one of the DMS concentrates from sample MBP 101
recently processed at their DMS facility in Thunder Bay, Ontario (press releases March 21st and April
18th 2007).
The 1.01 carat stone is described as medium brown in colour, intact with octahedral features. It is
approximately 4.8mm in its longest dimension and sits on a 3.35mm square mesh sieve. A photo of
the diamond will be available on Dianor’s web site later today (www.dianor.com).
A three dimensional (3D) model of the Leadbetter diamond bearing conglomerate was constructed by
Christian d’Amours P.Geo, President of Géopointcom, a consulting firm based in Val-d’Or, Québec
that specializes in 3D geological modeling and ore reserve calculations. All available geotechnical data
up to December 31, 2006 was used in the (3D) model and preliminary tonnage estimate including drill
hole data from the Phase I and Phase II drilling programs conducted on the Leadbetter Diamond
Property since April 2005. The number of drill holes used to construct the 3D model of the Leadbetter
Conglomerate was 122 representing 36,226m of drill core (see table below). The diamond drill core
was logged by Dianor personnel and consultants on site at the Leadbetter project facilities and specific
gravity/ density measurements was based on 850 analyses conducted on NQ drill cores at SGS
Lakefield and SRC laboratories in Ontario and Saskatchewan.
The preliminary tonnage estimate is not a mineral resource as there is insufficient data including
diamond assays from the drilling (microdiamond sampling of drill cores) available at this time to
calculate a mineral resource on the Leadbetter Conglomerate. Samples continue to be processed at a
number of commercial laboratories using caustic fusion, attrition milling and dense media separation
Lithological Density Tonnes Maximum
Conglomerate
Number of
Intersecting
Total Metres
Drilled
Code (g/cm3) Width Drillholes (for 3D Model)
S1C 2.82 366,375,000 185.60 m 87
S1CO 2.80 100,510,000 107.37 m 31
S1CV 2.82 99,115,000 173.79 m 39
TOTAL 566,000,000 122 36,226
(DMS) methods of diamond extraction. The geological model will continue to be updated as diamond
results become available. Based on the results of the exploration work conducted on the Leadbetter
Diamond property, the conglomerate units are still open at depth to the north while the eastern and
north eastern portions are faulted. However, the faulted eastern extension of the conglomerates is
currently being explored on the Mori/Metalex/Dianor property approximately 2.5 kms to the NE.
Geological logging and mapping of the outcrops has differentiated the diamond bearing “Leadbetter
Conglomerate” into three distinct geological units*:
1) The S1C unit is a poorly sorted polymictic conglomerate unit without stratification and is
considered the classic type “Leadbetter Conglomerate” sandwiched between the older S1CV
and the younger S1CO unit.
2) The S1CV unit is also a polymictic conglomerate that displays primary sedimentary features
like graded bedding and is locally intercalated with mafic volcanics. The clast component of the
S1CV and S1C are similar.
3) The younger S1CO unit contains a higher percentage of rhyolitic boulders and cobbles that are
rounded and angular in nature which distinguishes it from the older S1CV and S1C units.
*Detailed lithological descriptions will be provided in a NI43-101 technical report to be filed shortly.
To date 66 mini-bulk samples of conglomerate, approximately 5-6 tonnes each, and taken from
different parts and from different units along the 1.7 km strike length of sporadically outcropping
diamond bearing conglomerate have yielded a grade of 25.71 carats per hundred tonnes (cpht) (see
Dianor’s website posting dated January 2007).
The recent recovery of diamonds greater than one carat (press releases April 18th and April 23rd 2007)
is significant in that the 1.01 carat stone was recovered from sample MBP 101 which also contained a
0.667 carat octahedron diamond and belongs to the S1CV unit. The largest diamond recovered to date,
a 1.52 carat stone from sample MBP 136 in the S1C unit. In addition a 0.614 and a 0.576 carat diamond
were recovered from MBP 192 and MBP184 respectively in the S1CO unit. These preliminary results
appear to be indicative that larger sized diamonds are present in all three units.
This preliminary tonnage estimate and geological model will assist the Company in its goal to
accumulate a diamond parcel in the 2,000-3,000 carat range which would then be sent for evaluation.
Once a dollar per carat value is determined only then can the potential economics of the large formation
of diamond bearing conglomerate or portions of it be determined. With this in mind, the company is
currently awaiting the results from the four 60 tonne surface samples (press releases January 18th and
March 21st, 2007). The results from these samples will help identify the location of a planned 10,000
tonne bulk sample.
The size of conglomerate samples collected to date for diamond content, from split drill core to the 6
tonne and 60 tonne surface samples, even the planned 1,000 tonne samples, appear miniscule when
trying to accurately determine the diamond grade of such a large body of diamond bearing
conglomerate. The 566,000,000 tonne calculation clearly demonstrates the necessity to take large bulk
samples in the order of 10,000+ tonnes from the property.
Dianor is an innovative exploration company focused on advancing diamond exploration properties in
Canada. The Leadbetter Diamond Project is its most advanced project and is located 12 kilometres
north east of Wawa in Northern Ontario. It is a unique diamond deposit that in addition to diamonds it contains gold, sapphires and rubies (press release January 18th 2007). It is also the oldest in the
world being dated at 2.697 billion years old (press release April 4th 2007).
John Ryder, P.Geo is the Qualified Person responsible for the technical contents of this press release.
Still targeting the 15-20 cent range over the next 4 months
On Target Everytime with a Bullseye!