Diamonds North has a new name Adamera Minerals. So far the symbol has remained the same
Diamonds:Amaruk remains one of Canada's top opportunities for a significant diamond discovery. To date, a total of 25 kimberlites have been discovered of which 90% are diamondiferous.
Jul 14, 2009 08:00 ET
Diamonds North Begin Diamond & Gold Programs on Amaruk
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2009) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) announces the opening of camp on its 100% owned Amaruk property in the Pelly Bay Diamond District of Nunavut. Exploration crews have arrived and kimberlite target selection for drilling has begun. More subtle magnetic features will be targeted.
The Company plans to drill up to 30 kimberlite targets and collect up to a 10 tonne sample from the Beluga-3 kimberlite. The Beluga-3 discovery sample returned several larger diamonds and exhibits a very subtle magnetic signature. To date, 24 kimberlites have been discovered on Amaruk of which 90% contain diamonds and mineral chemistry across the property suggests economic diamond potential.
In conjunction with the diamond exploration program, the Company plans to prospect some of its gold occurrences on the property this summer, with the goal of developing drill targets to be tested later in the season.
Plans have been finalized to explore around the 5.8 g/T gold occurrence previously announced (see news release NR09-07, May 11th, 2009). Crews will complete detailed mapping and prospecting around and along the 3-5 m wide mineralized zone that is exposed for approximately 50 metres. Prospecting will also be carried out along the 42 kilometre structure and around what appears to be a late felsic intrusion, which maybe controlling features of a gold zone. A geophysical survey over the area identifies seven similar target areas warranting prospecting.
NEW GOLD ANOMALIES
Based on extensive gold grains recovered from till samples on the Amaruk property, 17 new and separate gold anomalies have been identified. The majority of the anomalies are defined by multiple samples containing 25 to 250 gold grains per 15 kilograms of till sampled. Surface textures on the recovered grains suggest minimal transport, estimated by the Company to be in the range of 500 to 1000 metres from source in most cases. In addition, high gold grain counts occur up-ice of structural lineaments and in some cases appear to be associated with specific lithologies. It is significant to note that the high concentrations of gold in till spans an approximate area measuring 30 x 100 kilometres.
"As an explorer our mandate is to generate shareholder value through the discovery of mineral deposits. Given the abundance of gold in the till in such a large area, we believe Amaruk is potentially a new gold camp and we will dedicate resources to explore this," says Mark Kolebaba, President & CEO of Diamonds North.
Diamonds North will continue to aggressively advance the diamond potential of the Pelly Bay Diamond District. The addition of the numerous gold prospects and the Tunerq Nickel discovery identified earlier on the Amaruk property demonstrates the multi-commodity potential of the north. The Company is committed to capturing commodity value for its shareholders from its large land portfolio.
Bruce Kienlen (P.Geol) and Graham Gill (P.Geo) are Diamonds North's qualified persons reviewing this project. They will be responsible for the design and conduct of future exploration programs and the verification and quality assurance of analytical results.
About Diamonds North
Diamonds North Resources is rapidly evolving and committed to building long-term value for shareholders through ongoing discoveries and leveraging business opportunities from our vast land holding.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President & CEO