Diamonds North Stakes Claims With 11.2 g/T Gold Over 3 Metres
02 Junho 2011 - 11:05AM
Marketwired
Diamonds North Resources Ltd. (TSX VENTURE: DDN) announces staking
of the Yandle and River gold properties in Southern Nunavut. The
Yandle claims cover several prospects one of which yielded 11.2 g/T
gold over 3 metres in a historical drill hole. Within the River
claim block several prospects have also been reported including a
grab sample that yielded 84.0 g/T gold.
"The Yandle and River properties appear to be inadequately
tested. The high grade gold mineralization with favourable strike
and width characteristics suggest these properties have tonnage
potential providing us with an opportunity to make a significant
discovery," says Mark Kolebaba, President and CEO of Diamonds
North.
Yandle Property
In addition to the showing where 11.2 g/T gold over 3 metres was
intercepted there are at least 4 other mineralized zones reported
at Yandle. Numerous grab samples from these showings returned
assays above 1.0 g/T gold with assays as high as 55.41 g/T gold.
Gold mineralization on the Yandle property is associated with
quartz-pyrite veins hosted within gabbro formations.
River Property
At the River Property gold occurs in iron formation and
sedimentary rocks. Grab samples from three showings on the property
have yielded numerous rock samples greater than 1.0 g/T gold and as
high as 84.0 g/T gold. There are no reports of drilling at the
River Property.
Diamonds North will immediately focus on the zones of high grade
gold mineralization to delineate drill targets for future testing.
This acquisition is a part of the Company's strategy to identify
significant gold opportunities.
The Yandle and River prospects are both within the Kaminak
Greenstone Belt, 15 kilometres apart and located near the Henik
Lake air strip. The staked claims are subject to approval by the
Nunavut Mining Recorder Office.
The historical work is from assessment reports and has not been
verified by the Company, however, it appears to have been completed
under standard best practices consistent with the time and appears
to be of reasonable quality. Bruce Kienlen (P. Geol) and Graham
Gill (P. Geo) are Diamonds North's qualified persons reviewing this
project.
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.
Diamonds North will be Exhibiting (Booth # 505) at the World
Resources Investment Conference June 5-6th 2011 held at the
Vancouver Convention Centre East. For more information and to
pre-register go to www.cambridgehouse.com.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba, President & CEO
Statements in this press release, other than purely historical
information, including statements relating to the Company's future
plans and objectives or expected results, may include
forward-looking statements. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in resource exploration and development. As
a result, actual results may vary materially from those described
in the forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Diamonds North Resources Ltd. Troy Shultz Manager,
Corporate Communications (6040 689-2010 (604) 484-7143 (FAX)
info@diamondsnorth.com www.diamondsnorth.com
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