RED SEA – Diamond Fields International of Vancouver has released what it believes to be the first ever 43-101-compliant resource estimate for a SedEx (sedimentary exhalative) deposit located on the seafloor. ACA Howe prepared a report that identified inferred resources at the Atlantis 2 Deeps project as being 604 million tonnes grading 2.03% Zn, 0.46% Cu and 41.14 g/t Ag. Historic, non-43-101-compliant resource estimates included amounts for manganese, lead, cobalt, cadmium and gold.
Diamond Fields has been granted a mining licence for the project and embarked on the feasibility study
Visit www.DiamondFields.com to view maps and photos.
(Editor’s note: Another Canadian company, Nautilus Minerals of Toronto, is exploring its Solwara 1 project on the bed of the Bismarck Sea off the coast of Papua New Guinea. In 2008, Nautilus reported an indicated resource of 870,000 tonnes grading 6.8% Cu, 4.8 g/t Au, 23 g/t Ag and 0.4% Zn plus inferred material. An underwater mining lease was granted to the company earlier this year. See www.NautilusMinerals.com.)