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TORONTO, ONTARIO–(Marketwire – Aug. 8, 2012) – Debut Diamonds Inc. (“Debut”) (CNSX:DDI) will be mobilizing an exploration team to begin phase one of a drill program at its Nakina Project located in the James Bay Lowlands, north of Nakina Ontario. The Nakina Project covers a total of 85 mining claims (consisting of 436 total claim units) where Debut holds a 100% interest in 57 of the claims and has an option to earn a 70% interest in the additional 28 claims. Debut is operator of the project.
To date, none of the exploration targets at Nakina have been drill tested and the upcoming program is designed to test distinct magnetic features that are interpreted to be potential kimberlite pipes as determined by analysis of airborne magnetic data generated in 2010 by the Ontario Geological Survey.
Debut will be drill testing 20 of its high priority targets with a hollow stem auger capable of coring bedrock once it is reached, therefore enabling the identification of kimberlite. This will be followed immediately by a program utilizing a diamond drill to reach deeper targets. The first phase of drilling at Nakina represents an initial expenditure of $750,000 for the exploration of select targets that are located within the traditional lands of Aroland First Nation. Each target was surveyed for the existence of any archeological or cultural values and permission to proceed with early exploration has been approved. All required agreements and permits are either in place, or expected shortly. Mobilization of the crew is scheduled for mid August.
“Reaching an agreement with Aroland First Nation, to move on select targets at Nakina, represents a solid step forward as we prepare to begin exploration work on this exciting project. We look forward to developing a constructive long term relationship with the community and will also be sourcing certain goods and services from Aroland, while providing training and employment opportunities throughout the duration of the project” said Chris Meraw, President of Debut Diamonds.
About Debut Diamonds
Debut has joint venture and wholly owned properties which include the previously discovered MacFadyen Kimberlites and the Pele, Victor West, and Uniform Surround claim blocks adjoining the De Beers’ Victor Mine. Also located in northern Ontario are the Nakina Project, Wawa Project and Canada Chrome Soil Sampling joint venture. The Kyle Kimberlites and Diagnos Initiative are within and adjacent to the Ring of Fire.
Forward-Looking Statement
Certain of the statements made and information contained herein is considered “forward-looking information” within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in Debut Diamonds periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. Debut Diamonds does not assume the obligation to update any forward-looking statement.
For further information please visit the company’s website at www.DebutDiamonds.com.
Shares issued and outstanding: 53,390,934
Debut Diamonds Inc.
Bruce Hodgman
VP Corporate Communications
(416) 642-3575
[email protected]
www.DebutDiamonds.com
