Diamond Fields International Ltd. (TSX:DFI) is pleased to announce that it has been awarded an exclusive prospecting permit for Sea Area 14(b) approximately 220 km north of Cape Town off the west coast of South Africa.
The permit area covers approximately 3813 hectares (38.13 sq km) with water depths varying between approximately 20 and 90 metres, which is an ideal water depth in which to operate DFI’s planned vessels.
Chief Geologist Randal Cullen stated: “We are very excited to acquire additional prospective sea areas offshore South Africa. Area 14b is largely unexplored to date but we believe it is importantly situated in proximity to offshore extensions of the Oliphants River course. The ancient Oliphants and Orange River drainage systems were the two major conduits transporting diamondiferous debris from eroded kimberlite pipes in southern Africa’s hinterland to the coast. Redistribution of these diamonds, largely by wave and wind action, has led to the extensive land based and marine diamond deposits found along the South African and Namibian west coastlines.”
The prospecting permit (permit No.6/2002) is effective July 7, 2002 for a period of three years and was granted to DFI’s wholly owned subsidiary, Diamond Fields (South Africa) (Pty) Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF
DIAMOND FIELDS INTERNATIONAL LTD.
Francis J. Waldron
Chairman and Chief Executive Officer
For further information contact Earl Young (1-214-219-1439)