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TSX-V: DOS APRIL 15, 2010
DIOS INCREASES ITS POSITION NEAR
THE RENARD DIAMOND PROJECT
MONTREAL, QUEBEC, CANADA – Following very encouraging research results obtained by DIOS EXPLORATION over the last few years, DIOS is pleased to announce that it has largely increased its land holdings in the vicinities of Stornoway-SOQUEM RENARD diamond project, Otish region, Quebec. A major drilling campaign is planned this year by DIOS. DIOS applied for about 350 additional claims (cdc) covering 180 square kilometres after extensive kimberlite targeting compilation work. Four main claim blocks were acquired, three being located 10 to 20 km away from the Renard-Lynx cluster. The 33 CARATS diamond project currently comprises 920 claims (410 sq. kilometres) and DIOS delineated 96 priority kimberlite targets for further testing.
Targeting was based on magnetic/electromagnetic data analysis, target location related to a known kimberlite indicator mineral train, quality of the chemistry of associated indicators,the presence of favourable structures and its proximity to the Renards-Lynx diamond-bearing kimberlite cluster.
The most recent (22th march, 2010) preliminary assessment of the Renard Diamond Project was updated to 42.6 MT @ 70 cpht (for 30 millions carats) for a 25 years mine life. Its Pre-tax Net Present Value (NPV) is now estimated at C$885 million. The total capital cost of the Renard project is estimated at C$511 million.
RENARD seems to be the most promising and advanced diamond development project in Quebec. DIOS has the largest diamond potential and kimberlite target land position in the vicinities and still remains the most active grass roots diamond explorer in Québec.
The new CW block (80 cdc for 41 sq. kilometers) hosts 8 kimberlite geophysical targets. Previous down-ice tills fences yielded anomalous indicator counts (up to 24 indicator grains) that included ilmenite, olivine, pyropes, chromite and chromium diopsides.
The new CN block (185 cdc for 95 sq. km) hosts 35 kimberlite geophysical targets. It is also located about 4-5 kilometers up-ice of a north-norteast ilmenite (minor chromite, chromium diopside and fosterite-olivine) train. Ilmenite counts varies from 10 to 1,406 ilmenite grains per sample. On the CN block itself, several till fences yielded low counts (1-3) of indicator minerals such as chromite, chromium diopside, ilmenite and fosterite-olivine.
The new CE block (86 cdc for 44 sq. kilometers) hosts 19 kimberlite geophysical targets and is located about 5 kilometers northeast (up-ice) of Stornoway North Anomaly that included kimberlite float boulder and diamond in till. On the CE block, several till fences yielded high counts (10-587) of fosterite-olivine as well as other minor indicator minerals such as chromite, chromium diopside and ilmenite. Further west, the 33 Carats W block (40 new cdc for a total of 175 cdc totalling 89 sq. kilometers) hosts 12 kimberlite geophysical targets. Some of the targets are located up-ice of favourable indicators such as G10 garnets, chromium enstatites, ilmenites, chromites, omphacites, fosterites-olivines. Elsewhere, another five first-priority targets are located on DIOS original 33 CARATS project.
This press release was prepared by M.J. Girard, M.Sc., P.Geo, and a Qualified Person pursuant to National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Marie-José Girard, President & CEO
Tél. : (514) 510-7962 ou (514) 483-5149
Fax : (514) 510-7964
Website : www.diosexplo.com