DUMONT NICKEL INC. (DNI: TSX-Ven)
TORONTO, April 27 /CNW/ - DUMONT NICKEL INC. (DNI:TSX-Ven) is pleased to
announce initial results from its drilling at the Kiewit Project, Utah (see
also press April 5, 2005). 24 reverse circulation (RC) holes have been
completed, of 50-70 planned, focusing on the Kiewit Historic Gold Zone portion
which is exposed throughout a 500x500m area over the southern one quarter of
the Kiewit Gold Zone. Ten of the holes were drilled beneath surface exposures
of the Zone mapped in 2004. The remaining holes tested the Zone away from
exposed portions, and along the north and west flanking faults.
The initial drilling confirmed continuity of the mineralized oxidized
stockwork over 250m of strike and 400m down dip, and successfully defined the
better grading portions. While the stockwork is mineralized with gold
throughout, the better grades appear to be concentrated in its eastern one
third, extending down from surface over long continuously mineralized widths
ranging upward to 55m (180ft). The Zone remains open down-dip, along strike
and for some 150m (492ft) up-dip beyond the area drilled. Results on hand
overall depict a gold bearing volume grading 0.5-3g/t, coinciding with the
thicker mineralized sections, surrounded by a lower grade halo ranging
0.1-0.5g/t. Holes drilled below the exposures of the Zone reported the
following:
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Hole From To Length Au From To Length Au
No. m m m(ft) g/t m m m(ft) g/t
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RC21 0 54.9 54.9(180ft) 1.1 includes 7.6 12.2 4.6 (15ft) 2.6
- - - - - includes 33.5 54.9 21.4 (70ft) 1.5
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RC2 0 67.1 67.1(220ft) 0.9 includes 22.9 67.1 44.2(145ft) 1.2
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RC1 0 45.7 45.7(150ft) 0.6 includes 22.9 41.2 18.3 (60ft) 1.0
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RC3 42.7 51.8 9.1 (30ft) 0.8 - - - - -
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RC5 22.9 30.5 7.6 (25ft) 1.1 hole avge 0 42.7 42.7(140ft) 0.5
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RC22 0 44.2 44.2(145ft) 0.6 includes 0 6.1 6.1 (20ft) 1.1
- - - - - includes 32.0 41.2 9.2 (30ft) 1.2
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RC14 30.5 41.2 10.7 (35ft) 1.0 includes 19.8 42.7 22.9 (75ft) 0.6
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RC9 0 53.4 53.4(175ft) 0.9 includes 0 9.1 9.1 (30ft) 2.1
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RC23 44.2 53.4 9.2 (30ft) 0.5 - - - - -
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RC8 22.9 35.1 12.2 (40ft) 0.4 - - - - -
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(x) RC2 drilled in the opposite direction to test an 80m (250ft) section
partially down-dip between RC1-RC21-RC3. (x)(x)Holes were collared
50-100m apart along four 50m spaced cross sections.(x)(x)(x)
Intercepts represent true widths across the stockwork zone.
Holes ranged 60-150m (200-400ft) in length, were sampled at 5ft
intervals, and were drilled at a -60 degree dip, with the exception of one
hole drilled vertically, and three holes which were drilled in the opposite
direction, to test grade continuity and gold distribution between other holes.
Twelve of the holes were drilled along the northern and western flanking
faults, and intersected subzones of material ranging 1.1-1.9g/t gold, within
8-15m (30-50ft) intervals grading 0.2-0.7g/t gold. The stockwork unit remains
open down dip from these localities.
DUMONT is encouraged by these findings and will continue its work as
planned to focus the balance of drilling over the Kiewit Historic Gold Zone on
more detailed definition of the better grading sections and their extensions.
Drilling will resume over the southern portion of the Zone once Midzone and
Rainbow Hill initial holes in progress on strike have been completed. Several
deep holes are also planned.
Downhole geology and gold grades from the RC drilling are consistent with
those from surface and DUMONT's 2004 core drilling (Press June 1 and July 12,
2004). The RC holes completed indicate good grade continuity down-dip between
holes. The results also reiterate that the Kiewit is a "gold-only" system, and
reinforce conclusions of historical leaching testwork that the material is
amenable to simple cyanidation. A suite of samples has been submitted for bulk
leaching testwork, in advance of full scale metallurgical tests.
Based on mapping and sampling completed last year by Dumont over the
Kiewit Property, the Kiewit Historic Gold Zone is envisaged to be one of
several substantially contiguous oxidized dilation zones, occupied by quartz
stockwork, in a shallow dipping regional structure intermittently exposed
across the Kiewit Property for some 2km. Four similarly sized dilation zones
have been discovered thus far, separated by faults. The Midzone and Rainbow
Hill, located immediately to the north of the Kiewit Historic Gold Zone, are
two of these features and both have reported gold from surface outcrops.
DUMONT's objective is to define a large bulk extractable gold-bearing
volume with analogies to other large low-grade gold deposits from the Great
Basin and elsewhere, and the Company is advancing rapidly toward this end. The
consistency of gold mineralization noted thus far throughout the Zone is
particularly encouraging as is the simple mineralogy of the host stockwork
material.
In addition to drilling, an Environmental Assessment Study Report has
recently been completed to secure an advanced level land use permit for a Plan
Of Operation for the entire Kiewit Project Area, in anticipation of multi
staged ongoing exploration and development work.
DUMONT is a mineral exploration company with operations in Ontario and
Utah. DUMONT is Operator of the Utah Joint Venture which now comprises
approximately 33 contiguous square miles of mineral properties across the
historic Clifton-Gold Hill gold-silver-copper Mining District. DUMONT holds
one of the largest prospective land positions in the Attawapiskat diamond area
in the James Bay Lowlands, Ontario, with a carried interest in the Dumont
Joint Venture previously announced by Metalex Ventures Limited, Arctic Star
Diamond Corp. and others. The Dumont Joint Venture is under the Operatorship
of companies under the direction of Mr. Charles Fipke. All of DUMONT's
properties are under active exploration either directly by DUMONT or via joint
venture.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
The Qualified Person in connection with this press release and in respect
of the Utah projects is ShahDe F. Sabag P.Geo, President and CEO of Dumont who
is responsible for verification and quality assurance of the exploration data
and analytical results set forth in this release. Gold analyses reported
herein were performed by American Assay Laboratories, Sparks, NV, by Fire
Assay of 1AT samples. Check assays were performed by Actlabs Skyline, Tucson,
Az, and by Actlabs, Ancaster, ON. The foregoing analytical facilities are
ISO certified registered laboratories. g/t equals grams per metric tonne.
Approximately 6% of drill intervals sampled and analyzed in duplicate at
multiple labs, and 10% of analyses cross checked. Duplicate samples archived
from all drill intervals.
This news release includes forward looking statements. While these
statements represent DUMONT's best current judgment, they are subject to risks
and uncertainties that could cause actual results to vary, including the risk
factors listed in the MD&A included in DUMONT's Annual Report 2004 available
from its website and from SEDAR.
DNI - TSX Venture
Issued: 76,057,677
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%SEDAR: 00010711E
