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Montreal, April 2, 2004 - AntOro Resources Inc. (TSX-V: “ORE”) is pleased to announce the acquisition of the Orangeite property, located in the middle of the Desmaraisville Kimberlite field. The property is approximately 150 km west of the town of Chibougamau and approximately 15 km south of the village of Desmaraisville in the Le Tac and Benoist Townships. Access to the property is greatly facilitated by provincial highway 113 linking Val d’Or to Chibougamau and by a network of all weather gravel roads that crisscross the property.
This property composed of 40 map-designated claims (CDC) totaling 2,241.86 hectares was acquired from Moshe Zefrani, Paul Lieberman and Michel Lavoie in counterpart of 600,000 common shares of the company and a cash payment of 10,500 $.
The Desmaraisville Kimberlite field (KDE) is located in the north-central part of the Abitibi Sub-Province and appears to be confined within the projection of the Paleozoic Saguenay rift; this tectonic event strikes at a direction of N 286º and its extension into the Superior Province is known as the Waswanipi-Saguenay Tectonic Zone (WSZ). Lake Waswanipi acts as a focus point to the exploration efforts due to the presence of Archean carbonatitic intrusions and telltale clues of lithospheric-scale tectonics demonstrate that this regions has the required magmatic permeability . AntOro believes that the coupling of these deep fracture system and evidence of alkaline magmatism in the general area (i.e.; the Shortt Lake, Montviel, Dolodeau and Grevet carbonatites or carbonatitic complexes) offer very promising potential for the discovery of diamondiferous kimberlitic rocks.
The first discovery of kimberlitic rocks in the Desmaraisville area dates back to gold exploration in 1955 (K.D. Watson, 1955). 37 years later a diamondiferous kimberlite pipe was discovered within the Le Tac township. The Desmaraisville field is divided into 2 sectors; Le Tac (SLT) and Ailly (SAI). AntOro’s efforts are, for the moment, concentrated on the Le Tac sector where 3 diamondiferous kimberlite pipes have been found to date. A recent news release, by Exploration Orbite (TSX-V:”ORT.A”) indicated that the mineralogy of these dykes suggest close similarity with South-African orangeites also known as “Type II” or micaceous kimberlites. It is AntOro’s opinion that the best is yet to be found in this region, since the Desmaraisville field has only received sporadic and limited-funding exploration efforts until now.
AntOro is presently preparing an extensive exploration campaign to expose the property’s diamond potential as early as the summer of 2004.
The company is continuously monitoring recent advancements in diamond exploration throughout Quebec and Ontario and remains open to partnership opportunities in diamond exploration ventures in these provinces. AntOro is also open to negotiate the purchase of any previously unreleased exploration data concerning diamond exploration within the Desmaraisville Kimberlite field.
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