NICKEL EXPLORATION – Madagascar laterites attract Diamond Fields

MADAGASCAR - The nickel laterites of Madagascar have drawn another potential nickel producer to the African island. DIAMOND FIELDS INTERNATIONAL of Cape Town, South Africa, is actively exploring the Valozoro nickel deposit, 300 km south of the capital city Antananarivo.

Diamonds Fields is earning a 100% interest in the project. In the mid-1950s a resource of 3.7 million tonnes at 1.75% Ni was calculated. Or looked at another way, there are 65,000 tonnes of contained nickel in the deposit. Diamond Fields says the deposit is up to 17 metres thick.

Current work includes an extensive channel-sampling program with samples being taken at half-metre intervals to determine the grade of the orebody. From this information, an NI43-101-compliant measured resource will be calculated. A mine development plan will follow.

Further news from the Valozoro project will be made available at www.DiamondFields.com.