Diamondex begins 2,000-metre drill program in Ontario

2009-03-11 16:38 ET - News Release

Mr. Randy Turner reports

DIAMONDEX STARTS 2,000 METRE DRILLING PROGRAM ON JAMES BAY PROPERTY

Diamondex Resources Ltd. has commenced drilling on its nickel property in the James Bay area of Northern Ontario.

The 2,000-metre program will focus on priority geophysical anomalies in Area 1, a subset of the three roughly contiguous claim blocks of the 414,000-acre property. Cyr Drilling Ontario Inc. has been contracted to provide the diamond drilling expertise that will see up to 10 priority targets tested before the middle of April.

During 2008 approximately 13,000 line kilometres of versatile time-domain electromagnetic (VTEM) surveys were flown over the James Bay property. To date, 78 strong conductors with minimum conductance values greater than 100 siemens have been identified over the breadth of the property. The resulting targets, up to 10 of which will be tested during the current program, are interpreted to be underlain by similar volcano-sedimentary stratigraphy to that which hosts Noront's Double Eagle nickel deposit and Spider-KWG's McFauld's Lake volcanogenic massive sulphide deposits.

The company owns 90 per cent of the James Bay property and Canada Nickel Corp. retains an undivided 10-per-cent interest.

The company is one of the largest propertyholders in the area, and has established a leading position in what could be one of Canada's last unexplored volcanic belts with demonstrated economic potential.

David Clarke, PGeol, MSc, senior vice-president of exploration for Diamondex Resources, is a qualified person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Diamondex Resources.

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