Diatreme Resources Ltd • Grass roots exploration recently...

Diatreme Resources Ltd

• Grass roots exploration recently discovered high grade HM deposits at Cyclone.
• Wide spaced drill lines show this 75%-owned Eucla Basin prospect has potential for repeat Heavy Mineral occurrences over 30km strike length.
• Drill lines have confirmed continuous mineralisation over widths to 2.5km.
• Zones to 19.5m thick confirm the validity of DRX’s exploration model.
• The results to date suggest real potential for expanding the mineral footprint.
• Based on these initial Eucla results, DRX has pegged additional ground.
• Overall Diatreme plans to spend about A$7 million on mineral sands exploration this year, with an
additional $8.75M cash expected from the expiry of options at the end of October this year.
• DRX also has prospective mineral sands tenements on Flinders Island and work continues there.
• The company’s base metal projects, include 100%-owned Clermont Copper project in Queensland.
• VTEM survey results are being collated and assessed to identify targets for drilling later this year.
• DRX also holds 50% of the Bellfield Base Metals project in Queensland: VTEM results awaited.
• The Eucla Basin assets, especially at Wanna Lakes in WA, constitute an exciting exploration project.
Results to date indicate that it offers investors significant upside potential.

• DRX is now cashed up (14 million in the bank)
• Assay results are due any day now, and there is absolutely no reason to think that they will not be very good based on the initial wide spaced drilling.
• JORC in January - only 6 months after initial exploration! Why would DRX even contemplate moving to detail a JORC compliant resource if they were not 100% positive the resource is in the ground - obviously based on the initial drilling.

Current SP is way too cheap!

IMO this now has to be one of the best buys on the market. It is amazing how at times the market simple does not follow fundamentals. Simply amazing. Instead lets all buy junior uranium plays and live in hope!