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News Release - Tuesday, January 18, 2011Diamonds North Identifies 10 Priority Gold Targets on the HI-2Prospect======================================================================= VANCOUVER, January 18, 2011 - Diamonds North Resources Ltd. (TSX-V:DDN) announces that priority gold targets have been identified on theHI-2 gold prospect on the 100% owned Halket Inlet project located inNunavut. Samples collected along a 55 kilometre long iron formation reveal atleast 6 areas with multiple gold values over 0.5 g/T gold includingvalues up to 3.24 g/T gold. These areas all occur at or near theintersection of regional structures and lineaments and will be a mainfocus of further work proposed for 2011. Additionally, 4 other areaswith anomalous gold values have been identified and require follow-upprospecting. "The HI-2 prospect is part of what we believe to be a new emerging golddistrict. Gold mineralization occurs along a sedimentary unit thatexceeds 55 kilometres in strike length and we are looking forward tofocusing on those areas with high gold values in 2011" says MarkKolebaba, President and CEO of Diamonds North. The gold bearing iron formation occurs in a tightly folded sedimentaryrock unit that extends for more than 55 kilometres in strike length. The sedimentary unit has a highly magnetic signature that is 500-1000metres wide based on airborne geophysical surveying. Gossanous zonescontained within the unit vary from 1 to 20 metres in width. Increasedwidths and occurrences of the gossanous zones are attributed to tightfolding, faulting and the existence of multiple sedimentary horizons. Detailed structural analysis at HI-2 is currently underway. Plans for2011 include additional prospecting, sampling and mapping along withground geophysical surveying. Regional prospecting of additionalgossanous areas located in the surrounding area is also planned. The HI-2 prospect is located only 5 kilometres from the coast and 25kilometres from the HI-1 prospect (see News Release NR10-19, November4, 2010). Bruce Kienlen (P. Geol) and Graham Gill (P. Geo) are Diamonds North'squalified persons as defined by National Instrument 43-101, reviewingthis project. They are responsible for the design and conduct of theexploration programs and the verification and quality assurance ofanalytical results. All assay results are provided by ALS Chemex. About Diamonds NorthDiamonds North Resources is rapidly evolving and committed to buildinglong-term value for shareholders through ongoing discoveries andleveraging business opportunities from our vast land holding. For an update on our projects please visit our booths at the 2011Vancouver Resource Investment Conference & the 2011 Mineral ExplorationRoundup. On behalf of Diamonds North Resources Ltd. Mark KolebabaPresident & CEO For additional information please contact: Troy Shultz Manager, Corporate Communications Diamonds North Resources Ltd. Telephone: (604) 689-2010 Facsimile: (604) 484-7143 Email: info@diamondsnorth.com Website: www.diamondsnorth.com
News Release - Monday, December 20, 2010 Diamonds North Reports Results for Beluga-3 & Continues to Define New Drill Targets
VANCOUVER, December 20, 2010 -- Diamonds North Resources Ltd. (TSX-V:DDN) reports 82 diamonds on or above the 0.85 millimetre sieve were recovered from 19.0 tonnes of kimberlite (certified headfeed weight)collected from the Beluga-3 kimberlite on the Amaruk property in Nunavut. Compelling high interest indicator minerals recovered from till samples suggesting kimberlites with high diamond potential exist on the property and have not yet been discovered.
Diamond Fund to Turn `Talismans of Magic' Into Commodity Assets
Former Rapaport Group executives are creating a fund that’s looking to transform diamonds from the “talismans of magic” advertised by De Beers into commodity investments like copper and soybeans..................
http://www.bloomberg.com/news/2010-12-08/diamond-fund-seeks-to-turn-talismans-of-magic-into-commodity-investments.html
Haha, Thanks! It is a very good play. I have a bunch in Diamaonds North.
b4
Diamonds in demand; Surat acts tough
Increasing demand for diamonds in the international markets has prompted traders in Surat to hike the price of roughs.
http://www.mineweb.com/mineweb/view/mineweb/en/page37?oid=116074&sn=Detail
November 30, 2010
Diamonds North Reports High Gold and Silver Values from Far East Project on Amaruk
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VANCOUVER, November 30, 2010 - Diamonds North Resources Ltd. (TSX-V: DDN) announces gold assays at the Far East showing on the Amaruk property in Nunavut. Prospecting around gold grains in till anomalies has lead to the identification of an extensive area with anomalous gold and silver including rock samples with 2.66 g/T gold and 1.19 g/T gold with 49.5 g/T silver.
Gold mineralization occurs in at least four structurally controlled zones within a 2 square kilometre central core area of felsic intrusive rock. The highest gold concentrations occur along the margins of an overburden covered valley which is open to the west. Elevated to high silver values also occur in two separate areas at the Far East showing.
Within similar rocks 1500 metres to the south of the main Far East showing, additional mineralization was identified where samples returned 24.9 g/T silver and 0.126 g/T gold. Silicified boulders with pyrite and chalcopyrite found 100 metres to the south of this second showing returned up to 0.573 g/T gold, 5.6 g/T silver, and 1% copper.
"This is another example of gold mineralization occurring over a large area discovered on the under-explored Amaruk property. The Far East showing is of particular interest because of the occurrence of silver with gold and follow-up work on this project will be a priority for the company" says Mark Kolebaba, President and CEO of Diamonds North.
A total of 83 rock samples were collected in 2010 at the Far East showing and 27 samples returned values greater than 0.1 g/T gold. The Far East showing was discovered in 2009 and was formerly referred to as the PB3 Showing (See news release 09-16, October 29, 2009).
The proposed work program for the Far East property includes immediate structural analysis prior to geological mapping, prospecting and ground geophysical surveying. Geochemical soil surveying will be conducted over overburden covered areas adjacent to anomalous rock samples identified in 2010.
http://www.diamondsnorthresources.com/s/NewsReleases2009.asp?ReportID=431226
News Release - Thursday, November 18, 2010 Diamonds North Begins Processing Beluga-3 Bulk Sample To Test For Larger Diamonds
VANCOUVER, November 18th, 2010 - Diamonds North Resources Ltd. (TSX-V:DDN) announces the commencement of the processing of the 25 tonne bulksample from the Beluga-3 kimberlite collected in 2010, located on theCompany's 100% owned Amaruk property in Nunavut. The sample, with a total lab weight of 24,613 kilograms is at the Saskatchewan Research Council Laboratory. A diamond concentrate will beproduced using a 1 tonne per hour Bateman Dense Media Separation plant with a 0.5mm screen size cut-off. The sample is being separated intofive batches for quality assurance and comparison of diamond content.Results will be reported upon receipt and final review and are anticipated mid to late December.
Net U.S. Polished Diamond Imports Up 22%
(November 11, '10, 5:14 Edahn Golan)
b4
http://idexonline.com/portal_FullNews.asp?id=34695
News Release - Thursday, November 04, 2010Diamonds North Reports High Gold Values and Triples Strike Lengthon HI-1======================================================================= VANCOUVER, November 3, 2010 - Diamonds North Resources Ltd. (TSX-V:DDN) reports gold values of 7.92 g/T Au over a 4.25 metre chip sampleincluding a 16 g/T Au assay over 0.25 metres on its 100% owned HI-1Gold Prospect located on the Halkett Inlet project, Nunavut. Thiscontiguous chip sample confirms the 2009 results of 9.4 g/T Au over 3metres and a grab sample of quartz feldspar porphyry (QFP) dykecontaining 24.3 g/T Au (see News Release NR09-15, October 19th, 2009). Refer to Table 1 below for the 2010 results from this area. Table 1. Project Sample Width (m) Au (g/T)HI-1 E855092 2.0 8.64HI-1 E855093 2.0 6.19HI-1 E855094 0.25 16.0Weighted Average 4.25 7.92 The combined 2009 and 2010 results have now increased the length of theanomalous gold bearing zone, where exposed, from 45 metres sampled in2009, to at least 165 metres. This gold zone is located within a 450metre long, 100 meter wide oxidized and QFP dyke-swarmed area thatremains open along strike to the east and west. The gold zone is alsolocated adjacent to a younger felsic intrusion and is associated with aprominent northwest trending structure. "This years program has confirmed the high grade gold results from 2009and has not only increased the strike length significantly it hasidentified two possible controlling structures that could lead tofurther increase in the size of the gold zone at HI-1" says MarkKolebaba, President and CEO of Diamonds North. HI-1 is hosted by deformed Archaen felsic and mafic rocks adjacent to ayounger, undeformed, felsic intrusion. The gold bearing unit isintruded by a swarm of QFP dykes that have also returned values of upto 1.81 g/T Au from grab samples. The significance of the gold bearingQFP should not be overlooked as many Archean gold deposits haveassociated QFP bodies, which are directly related to goldmineralization. Additional high gold values were returned from previously untestedoxidized meta-sedimentary gossan zones which include 4.75 g/T Au and3.2 g/T Au from chip samples over 1.0 metre and 2.2 metresrespectively. Grab samples also returned values of up to 3.59, 3.52,2.12 and 1.23 g/T Au. An additional 9 samples collected from theoxidized meta-sedimentary unit also returned values between 0.25 g/T Auto 0.91 g/T Au. The 3.59 g/T Au and 2.12 g/T Au results described above were collectedfrom the western most area of the gold zone which is intersected by a+2 kilometre long northwest trending structure likely related to the150 kilometre long Halkett Inlet fault zone. This structure as wellthe contact zone is important as they could potentially be conduits formineralizing fluids. These structures totalling at least 4 kilometresof strike now represent further potential for gold mineralization atHI-1 and are considered prime areas for follow-up in 2011. Theprospect is located less than 8 kilometres from the coast. Future work plans for this prospect include immediate detailedstructural analysis prior to additional rock and soil sampling,prospecting and geophysical surveying to define drill targets inanticipation of a drill program to be initiated in 2011. Explorationwill focus on the areas along the Northwest trending structure and thecontact zone of the younger felsic intrusion which is parallel to thestrike of the known gold mineralization. These target areas extend inthe Northwest-Southeast and East-West directions for at least twokilometres each.
Re: News Release - Monday, October 25, 2010
Title: Diamonds North Discovers New Gold Prospect on Amaruk
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VANCOUVER, October 25th, 2010 - Diamonds North Resources Ltd. (TSX-V: DDN) announces gold results for one of the Company's new gold projects on its 100% owned Amaruk Project located in Nunavut. Rock sampling from the DEL Showing returned grab samples up to 4.16 g/T Au and chip samples up to 1.20 g/T Au over 3.0 metres.
The approximately 15 kilometres long DEL Showing comprises an eastern and western zone which is separated by a younger felsic intrusive and bisected by a prominent regional fault. The eastern zone is approximately 9 kilometres long and contains at least two parallel shallow dipping sulfide-bearing iron formations. The western zone contains similar iron formation as well as gossanous metasediment with anomalous gold, silver and copper.
Surface exposure is limited with less than 10% of the iron formation exposed. A ground geophysical magnetic survey over a portion of the eastern zone indicates that the iron formation is continuous and can be traced under the shallow overburden.
"These are amazing results for a 10 day prospecting program over a 15 kilometre long gold bearing structure with limited exposure. More than 90% of the DEL showing has not yet been tested" says Mark Kolebaba, President & CEO of Diamonds North.
The western zone extends to the coast and a nearby all season road links the DEL showing to the Hamlet of Kugaaruk.
Future work plans include an immediate structural analysis to assist in identifying areas for possible manual stripping of the overburden to expose the iron formation for systematic grab and channel sampling, soil sampling in areas where the overburden is thicker, and ground geophysical surveys to help in delineating targets for drilling.
The DEL Showing was discovered in 2009 as part of Diamonds North's prospecting to follow-up Au in till anomalies on the Amaruk property. Initial grab samples from this showing returned between 115-692 ppb Au.
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons as defined by National Instrument 43-101, reviewing this project. They are responsible for the design and conduct of exploration programs and the verification and quality assurance of analytical results.
http://www.diamondsnorth.com/
New press release.
http://www.diamondsnorthresources.com/s/NewsReleases2009.asp?ReportID=423071
good news for diamond prices!
http://www.bloomberg.com/news/2010-10-06/rio-says-rough-diamond-prices-to-extend-gains-as-supplies-fall.html
Kind of a slow month. pps holding steady while we continue test drilling. 25 0f 30 kimberlite pipes have proven to contain diamonds and the gold project continues to advance. We may get some news this month but either way the financing is already in place to operate for a long time.
Personally I expect to farm out the gold project once the reserves are proven. The kimberlites are the "jewel" haha!
b4
=======================================================================News Release 2010 - Tuesday, August 17, 2010Diamonds North Increases Extent Of HI-2 Iron Formation Over 800%======================================================================= VANCOUVER, August 17th, 2010 -- Diamonds North Resources Ltd. (TSX-V:DDN) has completed initial gold prospecting at the HI-2 iron formationon the 100% owned Halkett Inlet property located in Nunavut. The extentof iron formation and potential gold mineralization has now been tracedfor at least 55 kilometres, a significant increase from the 6.5kilometres (see News Release NR10-01, January 17th, 2010). A total of428 geochemical samples have been collected for analysis. "The 2010 prospecting campaign has been very successful as it has movedthis regional target quickly into what could be a very significant goldplay" says Mark Kolebaba, President & CEO of Diamonds North. The iron formation measures 1 to 3 metres wide and in some areas up to20 metres wide. Preliminary grab samples from HI-2 collected in 2009yielded assays between 0.7 and 1.2 g/T gold demonstrating that the ironformation is gold bearing. The HI-2 prospect is only 5 kilometres fromthe coast. Graham Gill (P. Geo) is Diamonds North's qualified person as defined byNational Instrument 43-101, reviewing this project. Mr. Gill isresponsible for the design and conduct of exploration programs and theverification and quality assurance of analytical results. About Diamonds NorthDiamonds North Resources is rapidly evolving and committed to buildinglong-term value for shareholders through ongoing discoveries andleveraging business opportunities from our vast land holding. On behalf of Diamonds North Resources Ltd. Mark KolebabaPresident & CEO For additional information please contact: Nancy Curry VP Corporate Communications Diamonds North Resources Ltd. Telephone: (604) 689-2010 Facsimile: (604) 484-7143 Email: info@diamondsnorth.com Website: www.diamondsnorth.com The TSX Venture Exchange has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this release. Statementsin this press release, other than purely historical information,including statements relating to the Company's future plans andobjectives or expected results, may include forward-looking statements.Forward-looking statements are based on numerous assumptions and aresubject to all of the risks and uncertainties inherent in resourceexploration and development. As a result, actual results may varymaterially from those described in the forward-looking statements. =======================================================================Copyright (c) 2010 DIAMONDS NORTH RESOURCES LTD. (DDN) All rightsreserved. For more information visit our website athttp://www.diamondsnorth.com/ or send mailto:info@diamondsnorth.com=======================================================================
The study expects the Northwest Territories to benefit from a surge in diamond mining production-its most important commodity-as consumers have begun to buy diamonds again.
Diamonds North is not mentioned in this article but Nunavut is and we control huge areas of the region both for diamonds and for gold.
b4
http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=109702&sn=Detail
Here is a sad story about the diamond world from Tuesday. I sure prefer the way DDNFF is going about it.
b4
News 11/08/2010 Zim starts selling Marange diamonds
Zimbabwe began selling millions of carats of rough diamonds Wednesday that were mined from an area where human rights groups say soldiers killed 200 people, raped women and forced children into hard labor, The Associated Press (AP) reported.
Heavily armed police and soldiers guarded top security vaults built at the main Harare airport, where several private jets brought buyers from Israel, India, Lebanon and Russia, officials said.
Abbey Chikane, Zimbabwe monitor of the world diamond control body, certified the diamonds ready for sale on Wednesday, having said controversy-plagued diamonds from eastern Zimbabwe met minimum international standards.
Investigators for the world's diamond control body said last year that the gems were mined at the Marange diamond fields by virtual slaves who had been told to dig or die, and were smuggled out by soldiers who raped and beat civilians. Yet the Kimberley Process, the diamond body, said those gems didn't qualify as "blood diamonds", the AP report said.
Zimbabwe's mines ministry accuses human rights groups of "peddling falsehoods" over rights violations, it said.
No estimated value was given for stones, although unofficial estimates range up to $2 billion, a massive boost for Zimbabwe's ailing economy and representing about one-third of the southern African country's national debt.
The eastern alluvial diamond fields were uncovered in 2006 and are estimated to be able to meet one-fourth of the world's demand for diamonds. The find is described as the biggest in southern Africa since diamonds were discovered at Kimberley in South Africa a century ago, said the AP report.
The Associated Press.
http://www.polishedprices.com/news/NewsDetails.aspx?NewsId=1000006579
News release today!
http://www.diamondsnorthresources.com/s/NewsReleases2009.asp?ReportID=414223
August 12, 2010
Diamonds North Beluga-3 Bulk Sample Progress
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VANCOUVER, August 12, 2010 -- Diamonds North Resources Ltd. (TSX-V: DDN) has commenced drilling the 25 tonne bulk sample of the Beluga-3 kimberlite, located on its 100% owned Amaruk project in Nunavut.
The 2009 mini-bulk sample of Beluga-3 demonstrated larger diamond potential giving the Company confidence to proceed with this bulk sample (see News Release NR09-17, December 1st, 2009). Based on rough reconstructive analysis provided by Saskatchewan Research Council Laboratory, the Company estimates the largest diamond fragment recovered in 2009 to have been a diamond between 0.2 to 0.25 carats (see News Release NR10-05, April 16th, 2010).
Further interest in the Beluga-3 area has developed as a result of a comparison of garnet chemistry from the Beluga-3 kimberlite and surrounding till samples. A high priority garnet population observed in the till was not recovered in the 2009 Beluga-3 kimberlite sample, suggesting an untested phase of kimberlite is present in Beluga-3 and or additional undiscovered kimberlites in the immediate area. Additional exploration drilling is planned around Beluga-3 to locate the source of this high priority garnet population.
A total of 25 kimberlites have been discovered on the Amaruk property and 90% of the kimberlites processed for diamonds are proven to be diamondiferous. Hundreds of untested anomalies remain and numerous kimberlite indicator mineral trains remain unresolved offering high potential for additional kimberlite discovery on the property. Diamonds North will continue refining kimberlite targeting methods.
India's polished diamonds exports leap
Rising consumer interest from the United States has ensured that the country's net polished exports rose 74% to $4.18 billion for the first half of the calendar year.
Author: Shivom Seth
Posted: Tuesday , 10 Aug 2010
MUMBAI - -
India has emerged as a strong contender in the global gems and jewellery market despite theworld-wide recession and its related setbacks. Demand revival from the traditional markets of the US and Europe is set to spur export growth, ensuring that the value of exports of gems and jewellery expands by around 25% this year.
Demand from the United States, which accounts for more than half of India's gems and jewellery exports, has been steady and is expected to be rock solid in the coming months, according to traders. Gems and jewellery exports exceeded $28 billion in terms of value in 2009-10, up from $24.4 billion for 2008-09.
Polished diamond exports from the country jumped 79% to $2.2 billion in June 2010, though by volume, polished exports fell 2% year-on-year, as the average price increased 83% year-on-year to $495.01 per carat, according to data provided by the Gems and Jewellery Export Promotion Council. Gold jewellery exports rose to $ 610.4 million in June from $437.24 million of the previous year. The Council has noted that polished imports on the other hand, grew 84% in June 2010, to $1.46 billion, as net polished exports rose 69% year-on-year to $745.6 million.
Gurpreet Chhatwal, director of Crisil Ratings, which has compiled a report on the Indian diamond industry said that though actual consumption has shown an uptrend, restocking by retailers has also ensured a sharp turnaround in demand in the second half of 2009-10. Adding that most retailers maintained minimal inventory during the second half of 2008-09 and the first half of 2009-10, with several jewellers expecting the slump in demand to continue, Chhatwal said the second half of 2009-10 saw a dramatic reversal, with demand increasing significantly.
He added that over the medium term, this would ensure moderate buoyancy in exports by Indian players, despite the prevailing crisis in Europe.
It may be recalled that India's net diamond account had registered a deficit of $1.19 billion as compared to $148.2 million, a year ago. However, an increase in demand from the US (and partly from Europe) in the month of June 2010, has ensured that gems and jewellery exports jumped 75% to $3.08 billion. Exports stood at $1.76 billion in the same month of the previous year, according to data from the Gems and Jewellery Export Promotion Council (GJEPC), a Mumbai-based organisation.
``There is good demand from the US market and we have noticed a significant upsurge even last month,'' said chairman of GJEPC, Vasant Mehta. ``Orders are also picking up in markets like China and Singapore where we have aggressively started marketing our diamonds,'' he added.
Among the segments that registered maximum growth were cut and polished diamonds, which grew 78%, followed by gold jewellery that jumped 39% and coloured gemstones that saw an increase of 21%.
The sector, which took a drubbing due to the global economic crisis in September 2008, has seen a reversal in its fortunes, with a slight upsurge witnessed since November 2009. The UAE continues to be the main destination for Indian gems and jewellery, accounting for 31% of total exports, followed by Hong Kong and the US.
http://www.mineweb.com/mineweb/view/mineweb/en/page37?oid=109535&sn=Detail
Good one cork, that is were we find the "ice"
SL spends half the year under water and DN spends half the year under a glacier.
Just kidding. Nunavat can work year round. I like to diversify my portfolio by weather extremes, haha.
b4
It sure looks like it can get cold up there LoL!
Rough diamond prices are going through the roof. Rio's projects are way more advanced than ours but our DN properties have that much potential.
http://idexonline.com/portal_FullNews.asp?id=34337
Here's a good link to help understand why DN's kimberlite pipes are so special. Note that towards the end there is a section on alluvial diamonds which is what we are mining at the other site.
b4
http://www.allaboutgemstones.com/diamond_geology.html
No worries phil! I opened that link and some moths flew out of the 'ol laptop! Are you really interested in this one? You already are working your butt off on the other site and I know your work is crazy but I would make you a mod in a second. This one is just getting started.
Gold and energy are the best plays right now but I am sticking my neck out on DN for just what you spotted. Diamonds are the cash cow and multiple kimberlite pipes are so very rare. Add in a crapload of gold and copper and you have one huge company!
Let me know, phil,
b4
This article is alittle old but it has alot of good info about the District of Eastern Nunavut.
Statistics Canada says that between 1998 and 2002, 13.8 million carats have been mined, and the diamonds – precious stones of pure carbon – are worth $2.8 billion. "This is roughly a 1.5-kilogram bag of ice each day for five years, with each bag worth $1.5 million," a Statistics Canada paper says
http://www.cbc.ca/news/background/diamonds/
I did not build the compound by being stupid. DN has some freaking potential. PM me and I will share what kimberlite pipes mean and why DN may be the next big thing.
Thanks for visiting pal! Be sure to add a boardmark. Lots of yummy trinkets here.
b4
Hey b4atf as always you have the greatest stocks! DDNFF looks like they mean business! They are into Diamonds, Gold, Silver and Copper! I am looking into this one for sure!
Hey Cork I keep running into you on the winning stocks.Must be an omen!!
Hi board, please welcome cork. A wise man that really knows the mining world. We are very lucky to have cork aboard!
b4
The market knows LoL!
I see already the market is reacting to DDNFF new moderator.
Thanks gem, you are the first! May your wife bear 100 sons! All yours of course.
DN is a pretty neat play. I will build some of the DD over time. Sure glad you visited!
b4
Good Luck with your new board.I'm sure it will be a Great SUCCESS.
Link to Diamonds North website.
http://www.diamondsnorthresources.com/s/Home.asp
Welcome to the Diamonds North discussion board. I guess I am your Moderator and will sure welcome your posts.
I have been in DN since the start up and rode her up to over a dollar a while back.
I expect to see those values again.
b4atf
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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.
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.
GOLD PROSPECT
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
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