Retransmission: Diamonds North Acquires Property with High Gold Grades in Multiple Drill Holes
06 Junho 2011 - 9:45AM
Marketwired
Diamonds North Resources Ltd. (TSX VENTURE: DDN) has acquired 100%
interest in the Esker gold property in Nunavut. The Esker claim
covers several kilometres of gold bearing stratigraphy. Drill
intercepts of gold mineralization are as high as 8.2 g/T gold over
13 metres, including 17.7 g/T gold over 5.7 metres; and, 2.4 g/T
gold over 71 metres which includes several high grade zones (see
table below). For a video presentation on this project visit our
website www.diamondsnorth.com.
"This low cost staking puts us into a project with wide zones of
high grade gold mineralization and significant tonnage potential.
As only a small portion of the zone has been tested, our objective
is to drill along strike of the known mineralization along the host
gabbro units to expand the gold-bearing mineralized zone," says
Mark Kolebaba President and CEO of Diamonds North.
Historical drilling on the property identified gold mineralized
veins with good grade and width characteristics. The veins are
hosted by linear gabbro units, and surrounded by volcanic and
sedimentary rocks.
Geology, structural observation and drill results suggest
potential for continuity and significant tonnage over more than 5
kilometres of folded gabbro units within an area of 1300 x 600
metres.
Drill Intercept Highlights
-----------------------------------------------
Hole Interval (m) Length (m) Gold (g/T)
-----------------------------------------------
13 10.2 - 81.15 70.95 2.35
-----------------------------------------------
Inc. 10.20 - 15.00 4.80 14.77
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Inc. 10.20 - 23.10 12.90 6.43
-----------------------------------------------
Inc. 66.60 - 73.10 6.50 6.41
-----------------------------------------------
Inc. 70.60 - 73.10 2.50 12.22
-----------------------------------------------
Inc. 77.35 - 81.15 3.80 4.38
-----------------------------------------------
13 121.2 - 126.4 5.20 3.91
-----------------------------------------------
Inc. 121.2 - 123.2 2.00 6.11
-----------------------------------------------
15 36.04 - 49.31 13.27 8.18
-----------------------------------------------
Inc. 37.02 - 42.73 5.71 17.73
-----------------------------------------------
15 55.4 - 60.3 4.90 3.63
-----------------------------------------------
16 46.05 - 51.62 5.57 4.00
-----------------------------------------------
17 22.5 - 25.5 3.00 6.19
-----------------------------------------------
17 67.7 - 72.05 4.35 4.29
-----------------------------------------------
23 105.9 - 107.0 1.10 9.88
-----------------------------------------------
23 139.1 - 144.1 5.00 7.24
-----------------------------------------------
Inc. 142.1 - 144.1 2.00 12.97
-----------------------------------------------
23 150.72 - 154.22 3.50 3.69
-----------------------------------------------
23 214.0- 215.0 1.00 6.79
-----------------------------------------------
Substantial gold was intersected in 13 of 18 drill holes. A full
listing of the historical drill results, a drill hole location map
and an interpreted cross section are posted on the Diamonds North
website www.diamondsnorthresources.com/s/esker.asp.
The key exploration objective will be to drill the known gold
mineralization and extend this significant gold vein system. The
available drill core will be re-logged and the area of interest
will be mapped to determine structural control of the gold
mineralization in preparation for the drill program.
The Esker property is located less than 10 kilometres from the
Henik Lake airstrip. This property was staked by the Company as
part of the overall strategy to identify significant underexplored
gold opportunities.
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 Ltd. 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 (604) 689-2010 (604) 484-7143 (FAX)
info@diamondsnorth.com www.diamondsnorth.com
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