TORONTO, June 19, 2019 (GLOBE NEWSWIRE) -- Talmora Diamond Inc. (CSE: TAI) (“Talmora” or the “Company”), is pleased to provide an exploration update.
The Company’s partner, Olivut Resources Ltd. has successfully completed the field portion of the helimag geophysical program on the Company’s Seahorse Project, a part of its Horton property located in Canada’s Northwest Territories. The survey work was conducted over multiple anomalies previously identified from regional geophysics. Preliminary results have confirmed targets and provided detail that will aid drill planning. Further geophysical evaluations are ongoing to prioritize additional targets for drilling. A reverse circulation drill program is planned for the summer months when the crew can benefit from longer days. Specific timing is contingent on weather conditions as the project must be supplied by small aircraft and helicopter. Olivut is the Operator of the Seahorse Project in which it can earn a 50% interest pursuant to the terms of the previously announced option agreement. Talmora retains 100% interest in the remainder of its Horton property.
The Company considers the Project to have the potential to host economic diamondiferous kimberlite bodies of significant size based on a combination of: favourable diamond stability indicator minerals found regionally and locally, including 18 macro diamonds found in regional samples to the west and northwest; specific geophysical targets; regional and local faults that would favour kimberlite emplacement; occurrence of diamondiferous kimberlites to the north and southeast, as well as other geochemical data in the area.
At the Annual General Meeting held today, 59.51% of the Company’s votes were cast in person or by proxy and approved the Financial Statements for the year ended December 31, 2018, elected Raymond Davies, Richard M. Hogarth, Joan E. Fiset and Toby A. Strauss as Directors of the Company and re-appointed the Company’s Auditor, McGovern, Hurley, Cunningham, Chartered Accountants, for the ensuing year.
The scientific and technical portions of this news release were compiled, reviewed and approved by Alan W. Davies, P.Eng., P.G., who is the Vice-President of Exploration for Talmora Diamond Inc., a "qualified person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information please contact:
Raymond Davies, President & CEO
Talmora Diamond Inc. Email: rayal.davies@sympatico.ca Telephone 416-491-6771
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.