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Jan 14, 2008 : Diamonds North Announces Two More Kimberlites With High Diamond Counts... more...
Jan 08, 2008 : Diamonds North Recovers 550 Diamonds from 81.75 Kilograms of Tuktu-1 K... more...
Dec 13, 2007 : Siku Project Update more...
Dec 05, 2007 : Ualliq Project Update more...
Nov 30, 2007 : Diamonds North Completes Flow-Through Financing more...
Nov 30, 2007 : Diamond Market Conditions and Sakari Update more...
Nov 23, 2007 : Diamonds North Announces Flow-Through Financing more...
Oct 31, 2007 : New Nunavut Nickel Discovery more...
Oct 10, 2007 : Diamonds North Increases Kimberlite Tally to 22 on Amaruk more...
Sep 11, 2007 : Diamonds North Discovers 11 New Kimberlites on Amaruk more...
Aug 24, 2007 : Diamonds North Completes Flow-Through Financing more...
Aug 15, 2007 : Diamonds North Announces Flow-Through Financing more...
Jul 20, 2007 : Diamonds North Completes Banks Island Acquisition more...
Jul 19, 2007 : Diamonds North Announces Flow-Through Financing more...
Jul 11, 2007 : Diamonds North Provides Update on Hepburn more...
Jul 05, 2007 : Diamonds North acquires 100% interest in the Banks Island Project more...
May 24, 2007 : Diamonds North Expands Amaruk Exploration Program Bulk Samples & Drill... more...
Dec 04, 2006 : Uranium North Set To Close Financing And Commence To Trade more...
Nov 16, 2006 : Diamonds North Announces Closing of $7 Million Private Placement more...
Oct 26, 2006 : $6 Million "Bought Deal" Financing more...
Oct 12, 2006 : Diamonds North and Arctic Star to Explore in Canada's Newest Kimberlit... more...
Oct 05, 2006 : 19 New Kimberlite Float Occurrences on Amaruk Further Demonstrates the... more...
Sep 27, 2006 : Drill Targets Identified on the Ualliq property more...
Sep 20, 2006 : Diamonds North Increases Kimberlite Tally to Five Demonstrating Amaruk... more...
Aug 23, 2006 : Target Testing Underway at Amaruk -- New Kimberlite Discovered more...
Aug 15, 2006 : Shear Minerals and Diamonds North to Explore the Sakari property more...
Aug 02, 2006 : Diamonds North and International Samuel to Explore the Ualliq property more...
Aug 01, 2006 : Diamonds North Closes Plan of Arrangement for Shareholders to Receive ... more...
Jul 19, 2006 : Diamonds North sets Effective Date for Shareholders to Receive Uranium... more...
Jul 17, 2006 : Pathfinder Starts Major Airborne Geophysical Survey at Thelon Basin Ur... more...
Jul 14, 2006 : Diamonds North Grants Options more...
Jul 13, 2006 : Diamonds North To Drill The Amaruk Project more...
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2006 | 2005 | 2004 | 2003 | 2002
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Tue Aug 15, 2006
Shear Minerals and Diamonds North to Explore the Sakari property
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August 15th, 2006 - Shear Minerals Ltd. (SRM:TSXV) ("Shear") and Diamonds North Resources Ltd. (DDN:TSXV) ("Diamonds North") announce that the companies have entered into an Agreement whereby Shear can earn a 50% interest in approximately 42,000 acres of claims located within the southwest portion of Diamonds North's Amaruk project in the Pelly Bay Diamond District of Nunavut. The new Sakari property is located adjacent to the Darby project where a new kimberlite field was recently announced by Indicator Minerals Ltd and Teck Cominco Ltd.
Under the terms of the Agreement Shear can earn into a 50% interest in certain mineral claims totaling approximately 42,000 acres by making a payment of $97,000 in refundable deposits (completed), incurring exploration expenditures of $93,000 before September 30, 2006 plus an additional $93,000 in exploration before September 30, 2007. Diamonds North will operate the project.
To date, minimal work has been completed on the project with the exception of till sampling on a regional grid where kimberlite indicator minerals were recovered. In 2006 the partners are planning airborne geophysical surveying at 100 metre line spacing with possible target specific sampling follow-up.
The Pelly Bay region of Nunavut has emerged as Canada's newest diamond district. Recent kimberlite discoveries on the Amaruk project have yielded very encouraging diamond counts and excellent diamond characteristics (see Diamonds North News Release NR06-13, May 9th, 2006). More recent kimberlite discoveries in the region (Darby Project) confirm the existence of larger kimberlite bodies and the presence of multiple kimberlite fields.
Mr. Bruce Kienlen (P.Geol) is Diamonds North's Qualified Person for the project as defined under NI 43-101. Ms. Jennifer Burgess, P. Geol. of Burgess Diamonds, is a Qualified Person as defined under NI 43-101 and will be responsible for data review by Shear on this project.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
Shear Minerals Ltd. is a Canadian-based exploration company focused on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eight diamond projects, seven of which are drill-ready. The Company has advanced its 51%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district.
ON BEHALF OF THE BOARDS OF DIRECTORS:
Mark Kolebaba
President & CEO
Diamonds North Resources Ltd.
Pamela Strand
President & CEO
Shear Minerals Ltd.
For further information, please contact:
Corporate Communications:
Nancy Curry
Diamonds North Resources Ltd.
Telephone:
Facsimile:
Website: www.diamondsnorth.com
Email:
President & CEO, Pamela Strand
Shear Minerals Ltd.
Telephone:
Facsimile:
Website www.shearminerals.com
Email
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.
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You can view the Next News Releases 2006 item: Wed Aug 23, 2006, Target Testing Underway at Amaruk -- New Kimberlite Discovered
You can view the Previous News Releases 2006 item: Wed Aug 2, 2006, Diamonds North and International Samuel to Explore the Ualliq property
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