NEW YORK, NEW YORK--(Marketwire - March 4, 2010) - Diamond Discoveries International Corp. (PINK SHEETS:DMDD), a U.S. company focusing on chromium, platinum group elements (PGE) and gold exploration on it's 100% owned Caribou Property in Thetford Mines, Quebec, Canada is pleased to provide an update on it's exploration plans and the staking rush currently taking place in the Thetford Mines area.
The Company plans to continue on it's exploration program that it commenced in 2008 that resulted in high chromium values in multiple areas. Six (6) samples from the American Chrome Junior Showing returned composite assays of 10.72% Cr203 over 5 meters and .4g/t PGE (platinum,palladium and rhodium). This composite included a 1 meter grading of 21.47% of Cr203 and .5g/t PGE. In addition channel sampling (1 meter wide) on the new Bil Showing of which five (5) samples returned up to 9.8% Cr203 over 1 meter with traces of PGE.
Plans for 2010 include additional surface sampling and phase one drilling of 3-5 targets totaling 1-2,000 meters. In addition to chromium the Company also has gold discovery potential on its Caribou Property, one grab sample returned grade of 12,3 g/t Gold and 60 g/t Silver and 2,9% Copper on the northeast part of the property (GM 22358 Assessment Report from MRNF).
The Thetford Mines area is presently enjoying a major staking rush rumored to be the result of gold discoveries in sedimentary formations together with felsic volcanic and/or intrusive complexes. Nevado Venture Capital Inc. (TSX VENTURE:VDO) and Niogold Mining Corporation (TSX VENTURE:NOX) have recently announced significant acquisitions of mineral claims in the area. In addition recent government filings indicate that Bowmore Exploration Limited (TSX VENTURE:BOW) have acquired at least 200 permits.
Thetford Mines and the Southern Quebec Appalachian Belt have a century long history of mining and are known for its numerous chromite, asbestos and copper deposits. The region was the site of Canada's first placer gold rush on the 1850's, decades before the Klondike in the Yukon.
"Sedimentary formations in Quebec have been overlooked in the past for their gold potential but are now strong contributors to major new gold deposits in the Province such as Canadian Malartic (Osisko Mining) and Eleonore (Goldcorp)," said Antonio Sciacca CEO of DMDD, "In addition to chromium, which is our primary focus, we intend to also take part in this new Appalachian gold play."
The Company is also pleased to provide its new website www.quebecdiscoveries.com which reflects the Company's focus and commitment to Thetford Mines, Quebec.
The technical content of this press release has been reviewed and approved by Bertrand Brassard, P.Geo., a Qualified Person under the quidelines of National Instrument 43-101.
About Diamond Discoveries International Corp.
Diamond Discoveries International Corp. is a U.S. exploration company with executive offices in New York, NY and Toronto, Ontario. Since inception it has been focused on diamonds,chromium, PGE (platinum, palladium and rhodium) and gold. In June of 2008 the company received a NI 43-101 technical report on its Caribou Property, Thetford Mines, Quebec.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involves risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in company filings with U.S. securities regulatory authorities.