Diamond Fields partner drills 15.5% zirconium at Beravina Project, Madagascar

Diamond Fields Beravina Zircon Project in Madagascar

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Diamond Fields Resources Inc. [DFR-TSXV; DFIFF-OTC] announced results of the drilling program undertaken by TMH Acquisition Co., a special purpose company established by Denham Mining Fund LP, on the Diamond Fields Beravina Zircon Project in Madagascar.

A co-operation agreement announced by DFR on May 16, 2019, and amended June 26, 2020.

Between September, 2019 and March, 2020, TMH completed an exploration drilling, sampling and assaying program on the project. A total of 13 diamond core drill holes (906.16 metres) were completed before the program was curtailed due to the onset of the rainy season in Madagascar.

The drill program was designed to confirm geological and grade continuity of the current deposit and to test for potential strike and depth extensions to the mineralized system. The following points are highlighted from the results:

Infill drilling confirmed geological continuity on the north, south and west of the deposit and returned a weighted average grade of 15.5% ZrO2 which is consistent with the previous NI 43-101 Inferred Resource grade estimate of 15.3%.

Drilling into zircon-quartz pegmatite in the SW portion of the deposit stopped in grade at a vertical depth of 100 metres (PE12 – 43 metres averaging 16.2% ZrO2) due to rig limitations. This area previously yielded 36 metres averaging 18.3% ZrO2 from historical drill hole S11 and was stopped in mineralization at a similar depth of 104.2 metres. This portion of the deposit remains open at depth and further drilling is warranted.

Drilling within the eastern and potential northern depth extensions to the deposit did not intersect mineralization or only encountered thin, low grade intercepts of a brecciated nature. Further work is not warranted in these areas.

Under the Amended Agreement with TMH, Diamond Fields will undertake further exploration work starting with a high-resolution magnetic and photogrammetry drone survey, the development of digital elevation models and limited surface prospecting.

The magnetic drone survey is designed to identify the magnetite bearing marker horizon which forms an outer envelope to the Beravina zircon-quartz pegmatite deposit.

The purpose of the survey will be to define potential depth extensions to the current deposit and outline additional new deposits within the 625-hectare exploration license area.

If this further exploration work is successful, the company will then engage in a drilling campaign to be completed by November 30, 2020 under the terms of the Amended Agreement with TMH.

Sybrand van der Spuy, CEO of Diamond Fields, said: “The drilling results reinforce Beravina’s potential, confirming both the high-grade nature of the deposit and its potential for expansion. DFR will now be responsible for the next phase of exploration targeting potential extensions to the depth of the existing deposit as well as the identification of additional deposits which may exist within the Beravina license area.”

Zirconium is used in nuclear reactor, steel alloys, colored glazes, bricks, furnace linings, ceramics, abrasives, lamp filaments, artificial gemstones, microwave ovens, television screens, treatment for poison ivy and other products.

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