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DIOS Discovers New Gold at U33 Diamond-Gold Project

DIOS EXPLORATION INC. (TSX VENTURE: DOS) reports the discovery a new gold showing during its 2010 reconnaissance program on its wholly owned U33 diamond-gold exploration project, James Bay, Quebec. The discovery is located 52 kilometers SE of the multi-million ounces of gold Eleonore deposit and 12 kilometers NE of the million ounces of gold Clearwater deposit.

Grab sampling of the new Conductor gold showing returned in outcrops:

  • 37.3 g/t gold (in grams per ton), 16.8 g/t Ag (in grams per ton);
  • 24.0 g/t gold, 29.6 g/t silver;
  • 16.0 g/t gold, 3.9 g/t silver, 0.18% zinc;
  • 14.2 g/t gold, 54.0 g/t silver, 1.75% lead, 1.06% zinc;
  • 6.0 g/t gold, 3.9 g/t silver;
  • 5.0 g/t gold, 4.5 g/t silver;
  • 4.5 g/t gold, 1.4 g/t silver;
  • 4.2 g/t gold, 53.6 g/t silver, 0.82% lead, 0.75% zinc;
  • 2.9 g/t gold, 15.8 g/t silver, % 0.56% lead, 0.11% zinc.

So far, the exposed surface of the new Conductor gold showing is extended over a 20 meter strike length and it remains open in both ends. It is described as a 4 to 5 meters wide corridor hosting two sets of centimeter size quartz veins with traces to 2% pyrite-pyrrhotite-arsenopyrite (chalcopyrite-galena) within variably chloritized, carbonatized and silicified meta-volcanics (basalts) with disseminated sulfides (1-2% pyrite-pyrrhotite-arsenopyrite-chalcopyrite-galena-sphalerite). It is east-west striking with a 65 degrees dip towards the north. A non-exposed airborne EM (electromagnetic) conductor lies 250 meters west-southwest of the Conductor showing in a low topographic depression at the volcanic contact between the meta-basalts and a dacitic unit. Preliminary 2010 glacial till results returned gold anomalies in the heavy mineral concentrates from the tills located down-ice: 0.666 g/t Au, 0.925 g/t Au and 1.035 g/t Au.

The discovery was made in the scope of a larger diamond exploration program, in the vicinities of a major structure. The large DIOS U33 project is composed of 1,351 mining cells (cdc) covering 708 square kilometers and located in the Opinaca-Eastmain 1 area, Quebec, Canada. DIOS has 34.3 million shares outstanding and the funds available to pursue its exploration programs without incurring any share dilution.

The technical content of this press release was prepared by Harold Desbiens, M.Sc., P.Geo, a Qualified Person pursuant to National Instrument 43-101.

Source: Dios Exploration Inc.

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