Mining Times Newspaper June 2002
Diamond explorer Diamond Rose hopes to replicate the success of fellow explorer Striker Resources’ early results by forming a gold exploration division.
It will take advantage of exciting gold discoveries in the
“In the light of current renewed interest in the gold sector in general and the recent gold discovery by De Beers in the Kimberley region of Western Australia in particular, Diamond Rose has reviewed its own data and tenements for gold potential,” the company’s chairwoman and executive director, Pnina Feldman, said.
The as-yet unnamed gold division, to be a wholly controlled entity of Diamond Rose, will focus on existing gold anomalies within and adjacent to the company’s present tenement holdings in the
The new company hopes to develop a portfolio of high quality Australian gold projects, particularly in known gold producing regions.
It has expressed an interest in the Leonora region, from which more than 35 million ounces of gold resources have been discovered.
“Geologists who have been associated with discoveries in the region and have a thorough knowledge in the area are working with Diamond Rose and have now added projects from that area to the company’s gold portfolio.” Feldman said.
She said it was hoped the new gold division would broaden the base of the company, particularly at a time when gold is again a popular metal.
“The company remains committed to vigorously exploring for commercial deposits of diamonds through the company’s prospective portfolio of diamond exploration projects and also through its participation in the promotion of the IPO of Kimberley Rose Australia.”
The company has reviewed its diamond tenements for gold and found that certain fault structures and associated alteration are part of an epithermal style system, which may host potentially widespread gold mineralisation.
Consultant geologist John Ceplecha reviewed areas in the
As a result of this review, Diamond Rose has applied for an additional four maximum size ELAs.
Acting on the recommendations its consultants, the company has applied for another two exploration licences that straddle the Mt Margaret Mineral Field (Mt Malcolm District) and the North Coolgardie Mineral Field (Menzies District) which is from seven to 23 km west-northwest of Leonora.
