Trilliant Exploration Acquires Minority Stake in Global Diamond Resources, Plc
July 13 2009 - 9:00AM
Marketwired
Trilliant Exploration Corp. (OTCBB: TTXP), a fully operational gold
mining company with concessions in southern Ecuador, announced
today that it has acquired a minority stake in privately held,
Global Diamond Resources (GDR).
The �1.5 million ($2.42 Million USD) investment was made by
Trilliant Exploration's wholly owned UK subsidiary, Trilliant
Diamonds Ltd. Global Diamond Resources maintains a 93% interest in
the Kao Diamond Mine of Lesotho, South Africa.
Drilling at the Kao Diamond Mine has confirmed resources to 600
meters with over 147 million tones of proven and probable reserves.
A full report of the Kao Diamond Mine has been completed by SRK
Consulting (UK), Ltd. SRK analysts have stated in their final
report that "Kao has considerable upside potential and that it
could turn into a world class deposit."
Mr. William Lieberman, President of Trilliant Exploration
Corporation, stated, "We are very pleased to be making this
minority investment into Global Diamond Resources. We see the
investment into Global Diamond Resources as the first step to
developing further the concessions held in the Kao Diamond Mine."
He added, "We are working towards appointing a Non Executive
Chairman, who is an industry veteran that made the $2.42 million
investment and who will be a very active participant in building
its operations."
For more information and recorded video and interview with
President William Lieberman please visit: www.miningstock.info
About Global Diamond Resources
Global Diamond Resources Plc (GDR), www.globaldiamondres.com,
previously known as Lesotho Diamond Corporation Plc has secured
mining leases and prospecting licenses in Lesotho, the Democratic
Republic of Congo ("DRC") and Botswana.
In the next five years GDR has a commercial objective of
producing a million carats per annum through its major kimberlite
diamond operation at The Kao Diamond Mine and its alluvial
operations in the DRC.
The Kao Diamond Mine (Pty) Ltd. is the largest of GDR's major
diamond assets and is currently being developed in three stages.
Stage 1 of GDR's development plan is the trial mining phase of 188
tph DMS operation, Stage 2 and 3 are being planned to treat 900 and
1400 tph DMS capacity respectively.
About Trilliant Exploration Corporation
Trilliant Exploration Corporation is a producing mineral
exploration and development company with its administrative offices
located in New York and principle operating concessions in Southern
Ecuador, South America. The Company is engaged in gold mining and
related activities, including exploration and acquisition of
gold-bearing properties, the extraction and processing of ore, and
reclamation of mining properties.
Trilliant Exploration is currently exploring new opportunities
in El Oro province and is continuing its upgrade of Muluncaygold
Corp S.A. The Company is well on track to ramp up its ore
processing capacity to 200 tons-per-day by the third quarter of
2009 and plans to reach its goal of 750 tons-per-day within the
next 18 months.
The company's Muluncay Gold Project currently processes rock at
50 tons-per-day that produces an average of 6 to 8 grams of gold
per ton from its concessions located in the center of the
Portovelo-Zaruma mining camp. The Portovelo-Zaruma region has
conservatively produced 4.5 million ounces of gold since 1905. For
additional information on Trilliant please visit the Company's Web
Site: www.ttxp.biz
Safe Harbor
Forward-Looking Statements: This press release may contain
certain forward-looking statements within the meaning of Section
27A of the Securities and Exchange Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended,
and such Forward Looking Statements are intended to be covered by
the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties.
All statements other than statements of historical fact in this
announcement are forward-looking statements, including but not
limited to the viability of the company's business plans, the
effect of our acquisition of Muluncaygold Corp, S.A. on our
profitability, the effectiveness, profitability, and the
marketability of the Company's products; the Company's ability to
protect its proprietary information; general economic and business
conditions; the volatility of the company's operating results and
financial condition; and other risks detailed in the Company's
filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in its expectations, except as may
be required by law. Although the company believes that the
expectations expressed in these forward-looking statements are
reasonable, management cannot assure the public that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contact: Henry Harrison IR PRO 2.0 Phone: 407-682-2001 Email:
Henry.InsideWallStreet@gmail.com Michael Elliott For: Trilliant
Exploration Corp. Phone: (212) 560-5195 Email: info@ttxp.biz Web:
www.ttxp.biz
Trilliant Exploration (CE) (USOTC:TTXP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Trilliant Exploration (CE) (USOTC:TTXP)
Historical Stock Chart
From Jul 2023 to Jul 2024