Voisey drilling shows zone continuity

Drilling at the Voisey Bay nickel-copper-cobalt project in Labrador continues to intersect mineralization, indicating the zone has excellent continuity in both grade and thickness.

To date, Diamond Fields Resources (TSE) has reported results from holes VB-95-1 to VB-95-19.

The best intersections from eight recent holes are 3.65% nickel, 1.85% copper and 0.16% cobalt over 115 metres; 3.1% nickel, 1.66% copper and 0.14% cobalt over 114 metres; and 3.39% nickel, 2.27% copper and 0.15% cobalt over 110 metres. Other intersections ranged between 28 and 101 metres, with similar grades (see table on page 2).

Drilling indicates the massive sulphide zone, in section, is shaped like a wine glass and is more than 110 metres thick at its centre. On surface, the zone is oval and covers an area measuring 450 by 300 metres. The zone is underlain by several thick, disseminated-to-semi-massive zones of sulphide mineralization. Hole VB-95-18 also intersected a deep structure, 18 metres wide with similar grades, which lies outside the known geometry of the Main zone.

The company intends to hire an engineering firm to calculate a reserve and resource figure.

To date, 31 holes have been drilled in order to test the ovoid feature. However, four other holes were drilled to test a similar geophysical target, 250-300 metres to the southeast.

Although assays for these holes are still pending, the company reports that drilling penetrated significant intercepts of disseminated-to-semi-massive mineralization containing pentlandite, chalcopyrite and pyrrhotite within a troctolitic host similar to the oval structure.

Diamond Fields will continue to drill the oval zone and the new zone, to the southeast, as well as other targets. An airborne geophysical survey is covering all of the company’s claim blocks, encompassing 1,800 sq. km. The first phase of the airborne program was conducted around the Main zone. Results indicate the geophysical anomaly coincident with the zone exceeds 2.3 km in length, and less than half of this has been drill-tested. Hole Interval Ni(%) Cu(%) Co(%)

(metres)

VB-12 110* 3.39 2.27 0.15

VB-13 43* 3.18 1.89 0.12

VB-14 114* 3.10 1.66 0.14

VB-15 101* 3.46 1.72 0.14

VB-16 115 3.65 1.85 0.16

VB-17 28 3.43 1.43 0.15

VB-18 38 3.99 1.99 0.18

VB-19 67 3.62 1.75 0.14

* includes both massive sulphide and disseminated mineralization