NORDIC DIAMONDS LIMITED
(TSX Venture Exchange Symbol: NDL)
GOLD PROPERTIES IN MALI
Since our last update on Nordic in Jan 2007, the Company has acquired two options on properties in Mali.
Mali is the third largest gold producer in Africa, with 2007 production estimated to be 65.1 tonnes of gold, according to figures from the Ministry of Mines.
The Kafa Formation hosts some of the largest mines in Africa (such as Sadiola, Yatela, Loulo and Yalea), some of which have only recently been discovered in the last 15 to 20 years.
Two areas of Proterozoic Birimian volcanic and sedimentary rocks are exposed along the western edges of Mali: the Keneiba and Kayes.
The Kayes window exposes similar age Birimian volcano-sedimentary rocks as the Kenieba window, but is lesser explored. Nordic's claims lie in the middle portion of the oval shaped Kayes window.
The two concessions, Boutounguissi and Aourou, are located in Western Mali and cover 4,273 and 20,101 hectares respectively. Anglo has claims to the northern boundary and Sadiolo (an Anglo/IAMgold mine which produced 500,000 ounces in 2006 and which has a 14 million oz. Au resource) is 120 km to the south.
Nordic has the right to earn a 70% interest in the project.
WORK PLANS
Gold mineralisation in the area is found either as mesothermal gold veins or stratabound auriferous sediments.
Four targets have been identified on the claims, with soil geochemical values yielding up to 875 pbb (samples just outside the claim boundary ran up to 3450 pbb). Two anomalies identified measure 800 m x 800m and 660 x 600 m.
The Company intends to carry out 9,000 meters of drilling in Phase 1 and 6,400 meters in Phase 2 for a total budget for $ 500,000.
OTHER PROPERTIES
The Company's other priority properties are:
BRSC-WM (Diamonds): Located 7 km from Tahera's Jerico mine, the Company will initiate a program of ground geophysics over high priority area and sampling, to be followed by drilling. An exploration budget of $ 750,000 is anticipated.
Nyborg VMS Project (Gold/Zinc/Copper): A work program of ground geophysics and drilling is to be completed with an exploration budget of $ 650,000 on the Company's 7, 740 hectare project in Sweden.
Storsjo (Uranium): With a hole of 2.02% over 1.55 m, the Company intends to spend $ 200,000 on further exploration on its 4,800 hectare claims in Sweden.
The Company is currently arranging a $ 3 million financing to meet its future work requirements.
For further information, please visit www.NordicDiamonds.com.
CANGOLD LIMITED
(TSX Venture Exchange Symbol: CLD)
STRATEGIC FOCUS
Cangold Ltd. is a company that had focused on gold and silver exploration in Canada but is expanding its search for properties in Mexico.
The CEO of Cangold is also the CEO of Great Panther Resources, a TSX listed company (symbol: GPR), which has two operating silver mines in Mexico and an additional property with a resource of 22 million ounces of silver equivalent.
To leverage off of the expertise of the operating team in Mexico, Cangold's Board of Directors has decided to focus on gold projects in Mexico. This avoids any conflict of interest with Great Panther as it is focused on silver but allows Cangold to benefit from the Great Panther's relationships and operational knowledge in that country.
THE COMPANY
The Company is registered as a British Columbia reporting issuer and its shares trade on the TSX Venture Exchange, under the symbol CLD.
The Company's core asset is a 51% interest in the Thorn property. This is a property covering 143.5 sq. km, 130 km southeast of Atlin in British Columbia.
While the property has shown merit, no significant work has been done since 2005 as the focus has shifted to Mexico.
KEY PERSONNEL
Robert Archer (P.Geo) is the CEO of Cangold. He has more than 26 years in the mining industry, including 15 years of mineral exploration with Placer Dome, Newmont, Rio Algom and Noranda and 11 years at the senior management level of junior exploration companies. Mr. Archer has participated in or supervised four positive feasibility studies, including one at Placer Dome's 15 million ounce (gold) Dome Mine. Mr. Archer has an Honours B.Sc. degree in geology from Laurentian University in Ontario.
Adrian Bray (P.Geo) is the Exploration Manager. With 21 years experience throughout the Americas and China as a professional geologist, Adrian speaks four languages including Spanish. He has set up QA/QC programs for a number of mining companies. He is currently evaluating potential projects in Mexico.
Robert F. Brown (P.Eng.) is the Vice President Exploration for Cangold and a Professional Engineer with a degree in Engineering Geology from Queen's University. His 28-years of experience in the mining industry includes 15-years with Lac Minerals in Canada, culminating in the position of Exploration Manager. For more than 13 years, he held senior management positions in the junior sector, working on projects throughout the Americas, Eastern Europe and Indonesia, primarily in gold and silver exploration.
Kareen McKinnon is Vice President, Corporate Development. Ms. McKinnon has a background in investment banking (with Nesbitt Burns) and has worked for a number of junior resource companies, including North American Gold and Robert Friedland's Diamond Fields Resources. Ms. McKinnon was most recently the Vice President, Corporate Development of White Knight Resources and Mansfield Minerals where she was responsible for raising the profile of the companies in the investment community, and was part of the team that facilitated the takeover of White Knight by Robert McEwen's US Gold.
For further information, visit www.Cangold.ca.
