THE DIAMOND PAGE — Verkhotina drilling returns diamonds

Initial processing of the discovery hole from Pipe 441 at the Verkhotina project in northwestern Russia is returning diamonds for Archangel Diamond (VSE).

The hole intersected kimberlite from a depth of 67-105 metres before being shut down due to down-hole problems. The initial processing of a 10.03-kg kimberlite sample, taken from an interval of crater facies between 73.5 to 80 metres, yielded 8 macrodiamonds and 34 micros.

One of the macros measures greater than 1 mm in size in at least one dimension. Results are pending for the remaining 60 kg of core.

Archangel holds a 40% interest in the joint venture and is responsible for funding the project through to feasibility.

The state entity Arkhangelskgeologia holds a half interest, with a private firm holding the remaining 10%.

The Verkhotina project encompasses 400 sq. km and hosts seven known diamondiferous pipes and roughly 90 untested anomalies.

In a related matter, Archangel is not proceeding with the proposed acquisition of Australian-based Ellendale Resources.

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