Diadem dumps Indonesian zinc project

Canadian junior mining company Diadem Resources Ltd. announced Thursday that it would dump its assets outside North America, including majority interest in zinc exploration property in Indonesia.

The company said it would seek joint venture partners or sell those projects

The company?s website says that the company holds 90 percent interest in Kelapa Kampit zinc resource on the island of Belitung, with an an indicated resource of 13.38 million tonnes @ 6.59% zinc, 4.02% lead 59.86 g/t silver, and an inferred resource of 12.23 million tonnes @ 6.52% zinc, 4.00% lead, and 59.75 g/t silver. The company?s exploration activity in Kelapa Kampit had been dormant for years.

Diadem, however, said that it would continue to hold an equity stake of 18 percent in Waseco Resources Inc., a junior resource company with alluvial and hard rock gold property interests in Indonesia and a potential diamond prospect in the Attawapiskat area of Northern Ontario.(alex)