AMI.L Regulatory News (AMI)

1 Nov 2006 07:00

Sierra Leone Diamond Company Ld01 November 2006 For Immediate Release 1 November 2006 Sierra Leone Diamond Company Limited ("SLDC" or the "Company") Marampa And Tonkili Iron Ore Deposits: Aeromagnetic Interpretation reveals possible extent and generates 11 drill targets for immediate follow-up Sierra Leone Diamond Company Limited (AIM: SLD), the diamond exploration companywith licence interests wholly focused in the country of Sierra Leone, is pleasedto announce that RSG Global, the technical consultants appointed to generate aresource statement on the potential of the iron ore deposits within thecompany's licence holdings, have reported significantly improved geologicalinterpretations for both the Tonkili and Marampa deposits. At Marampa, RSG Global has generated 2 highly ranked targets that have goodpotential to contain an economic iron ore resource that are recommended forimmediate drill testing after initial ground reconnaissance and a further 9targets have been identified. The Marampa iron ore targets have been generated as a result of areinterpretation of the geophysical data collected for the purpose ofidentifying kimberlite targets for diamond exploration, and cover an area ofapproximately 11 km by 30 km, an area significantly larger than that previouslybelieved prior to this new interpretation. Commenting on the findings of the RSG report, David Gadd-Claxton said: "I am encouraged by the generation of these new targets. This will allow theiron ore program to quickly move forward to begin drilling the highly rankedtargets as the first step in developing the potential of the company'snon-diamond asset portfolio". For further information, please contact: Sierra Leone Diamond Company Limited 01442 257 246David Gadd-Claxton, Chief Executive OfficerGordon Stein, Interim Chief Financial Officer Buchanan Communications 020 7466 5000Bobby MorseNick Melson Dr Peter Frikken is the author of the RSG Marampa and Tonkili Iron Ore Deposit areomag interpretation report. Dr. Frkken is a Senior Consultant with RSG Global. Peter has over 7 years experience as an economic geologist, including a PhDawarded in 2003. He specialises in disciplines ranging from lithology andalteration mapping, geochemistry, structural geology, SWIR Spectroscopy tocontrols on metal precipitation in prophyry and epithermal systems and has thefollowing qualifications: PhD Codes - SRC University Of Tasmania 2003BSc Hons. - University of Wollongong 1997Member, Economic Geology 1999 - present This information is provided by RNS The company news service from the London Stock Exchange