NEW YORK, June 15, 2004 (PRIMEZONE) -- Otish Mountain Diamond Company, Inc. (OTCBB:OMDC), announced today that the Company is currently reviewing contractors for its summer ground sampling program, to commence in July.
The current sampling program will confirm and prioritize drill targets over known magnetic anomalies, by mineral sampling, ground geophysical surveying and prospecting as well as broad based reconnaissance work. Roughly 100 samples will be picked up by helicopter during a period of approximately 2 weeks. Lab analysis of the samples should take about 6-8 weeks of processing time. The sampling will span Otish's 8 properties and cover over 60,000 acres of territory.
Meanwhile, impressive results continue to develop in the northern Quebec region as shown by the continued positive findings from Ashton Mining and SOQUEM's Foxtrot property, which is located just 25 miles from Otish Mountain Diamond's Lac Leran JV project. The Foxtrot property reported on June 9, 2004, an estimated diamond content of 153 carats per hundred tons for a 5.11 ton mini-bulk sample collected from the Renard 3 kimberlitic body with the largest diamond being recovered weighing 1.82 carats.
Otish Mountain Diamond Company is an exploration company conducting diamond exploration activities in the Northern part of Quebec. The Company's claims in the Otish Mountains region are located in under-explored areas next to significant diamond discoveries. Geologists believe that there is good potential for the discovery of diamond bearing kimberlites at these sites due to their geological settings and close proximity to valuable explorations sites of industry leaders Ashton Mining, Majescor and Dios (in partnership with DeBeers of South Africa).
Safe Harbor Statement
The statements contained in this news release that are not historical facts may be statements regarding the Company's future that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe the Company's hopes, plans, objectives, goals, intentions or expectations are all forward-looking statements. Any such statements made herein about the Company's future are only made as of the date of this news release. Numerous factors, many of which are beyond the Company's control, may affect actual results. The Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.