Avannaa Finds Diamonds in Greenland

Junior mining company Avannaa Resources has announced a new diamond find at Disko Bay, West Greenland.

Following 30 weeks of fieldwork, Avannaa says it has discovered one macrodiamond and 101 microdiamonds from a 39kg kimberlite sample.

The discovery will be followed by prospecting work this year, together with newly created subsidiary Avannaa Diamonds, which has applied for licences to pursue the diamond potential in the region.

"By summer 2008 we anticipate holding four licences in West Greenland, covering more than 3,000km² and containing some eight exploration targets," says CEO Nicholas Rose.

"In addition to maturing our existing portfolio in West Greenland we will continue our strategy of seeking high impact grass roots exploration projects in areas that have been underexplored by the mining industry."

By Ozge Ibrahim