Talmora Diamond Inc. Exploration Update
TALMORA DIAMOND INC.
( CSE – TAI )
6 Willowood Court Tel: 416-491-6771
Toronto, Ontario, M2J 2M3 Fax: 416 499 5187
[email protected] www.talmoradiamond.com
TALMORA DIAMOND INC. EXPLORATION UPDATE
Toronto, January 15, 2020 – Talmora Diamond Inc. (CSE: TAI) (“Talmora” or the Company” ) is pleased to provide an
exploration update.
As previously reported, the field portion of the 2019 drill program on the Seahorse Project located in Canada’s
Northwest Territories (the “Seahorse Project”) ended in late September. Encouraging results from this program
warrant additional work.
Six holes were drilled to test certain regional geophysical targets that had been confirmed and further delineated by a
detailed helimag program that was conducted during April and May 2019. The six holes were drilled to a maximum
depth of 316’ using a reverse circulation, heli portable drill.
Each of the holes intersected varying depths of extremely fine-grained clays that do not appear to be derived from
the dolomite country rock that is exposed proximal to the targets. Down hole drilling conditions were exceptionally
challenging in the holes, as was the recovery of drill sample material, due primarily to the nature of the intersected
clays. Samples were collected from each of the holes and sent for analysis to Saskatchewan Research Council.
Preliminary visual inspection of the down hole material, as well as further microscopic examination of many of the
samples collected, could not specifically identify with certainty the host rock from which the clay material is derived.
However, whole rock and multi-element geoanalytical results have returned complex chemistry that warrants further
work.
Initial results reflect anomalous, elevated levels of numerous heavy and light rare earth elements relative to levels of
the same elements found in till samples obtained in the general region. These levels are generally higher than, or
consistent with, levels of rare earths detected in clays found to occur over certain kimberlites identified in some
locations of the world. Sulphides, including pyrite and sphalerite, as well as other mafic minerals were easily
identified in many downhole samples. None of these findings can be explained by the exposed country dolomitic
rocks.
Additional sample material has recently been sent to Saskatchewan Research Council for heavy mineral analysis. The
Seahorse Project area underwent periods of extreme warming and laterization that destroyed silicate indicator
minerals as evidenced from regional till sampling results. However, some opaque oxide indicator minerals and
diamonds survive this type of weathering. Given the anomalous drill hole geochemical results, this work constitutes
the obvious next cost effective step.
In addition to the drilling program described above, limited regional prospecting was conducted. A large gossan zone
was identified on the property that appears to have a strike length of approximately eight kilometres. Very limited
sampling was conducted due to budget and fuel constraints. Some of these samples returned trace amounts of gold
which may be significant given the limited number of samples collected. The linear gossan zone occurs within the
dolomite country rock and likely represents a sulphide bearing fault zone.
While analyses have been ongoing, a great deal of time has been spent fu rther reviewing the geophysical and
geological information considering these new anomalous results. This region has been subjected to no known
previous detailed exploration work.
The Company considers the Seahorse Project to have the potential to host diamondiferous kimberlite bodies of
significant size and perhaps other mineral deposits, based on a combination of: 2019 program results as described
above; favourable diamond stability indicator minerals found regionally and locally, including 18 macro diamonds
found in regional samples to the west and northwest; specific geophysical targets; regional and local faults that would
favour kimberlite emplacement; occurrence of diamondiferous kimberlites to the north and southeast, as well as
other geochemical data in the area.
Due to its remoteness, the project area must be supplied by small aircraft and helicopter. Olivut is the Operator
pursuant to the terms of the previously announced option agreement with Talmora Diamond Inc. (“Talmora”) to earn
50%. On December 7 , 2019 Olivut informed Talmora that $1,295,256 had been spent on the Seahorse Project to
October 31, 2019. Olivut must decide whether to exercise its option by July 6, 2020. The Company will report further
details once they are available.
Talmora holds 100% interest in ground adjoining the Seahorse Project on which there are anomalous kimberlite
indicator minerals and untested magnetic anomalies.
The scientific and technical portions of this news release were reviewed and approved by Alan W. Davies, P.Eng., who
is the Vice-President of Exploration for Talmora Diamond Inc., a "qualified person" as defined by National Instrument
43-101 Standards of Disclosure for Mineral Projects.
For further information please contact:
Raymond Davies,
President & CEO
Talmora Diamond Inc. Email: [email protected] Telephone 416-491-6771
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained
herein. This News Release includes certain "forward -looking statements" which are not comprised of historical facts. Forward -
looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condition or result to occur. Forward -looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since
forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factor s
involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking information in this news release
includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential
mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resou rces to
reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals,
political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations
in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and
the other risks involved in the mineral exploration and development industry, and those risks set out in the Com pany’s public
documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward -
looking information in this news release are reasonable, undue reliance should not be placed on such information, which onl y
applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames
or at all. The Company disclaims any intention or obligation to update or revise any forward -looking information, whether as a
result of new information, future events or otherwise, other than as required by law.