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Aug 17, 2010: Diamonds North Increases Extent Of HI-2 Iron Formation Over 800% more...
Aug 12, 2010: Diamonds North Beluga-3 Bulk Sample Progress more...
Jul 22, 2010: Diamonds North Closes Final Tranche Of Financing more...
Jul 22, 2010: Diamonds North Extends HI-1 Along Strike And Identifies Abundance Of Gossan Zones At HI-2 more...
Jul 16, 2010: Diamonds North Begins Halkett Inlet Gold Program more...
Jul 14, 2010: Diamonds North Closes Tranche 2 Of Financing more...
Jul 13, 2010: Diamonds North Begins Work At Amaruk more...
Jul 08, 2010: Diamonds North Closes Tranche 1 of Financing more...
Jul 05, 2010: Diamonds North Increases Flow-Through Financing more...
Jun 15, 2010: Diamonds North Announces Flow-Through Financing more...
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| | January 17, 2010
Diamonds North Discovers another Gold Source on Amaruk
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| | VANCOUVER, January 17th, 2010 -- Diamonds North Resources Ltd. (TSX-V: DDN) announces the discovery of a gold bearing iron formation on its 100% owned Amaruk property located in Nunavut. Initial regional prospecting returned grab samples with over 0.5 gram per tonne (g/T) gold including a sample yielding 1.2 g/T gold.
The sub-vertical sulfide rich iron formation was traced over more than 6.5 kilometres and measures 1 to 5 metres, wide and in areas of intense folding up to 25 metres wide. Pyrrhotite, pyrite and chalcopyrite occurs as disseminated and in semi-massive concentrations up to 50%. Several of the samples collected also returned anomalous copper up to 0.26%, nickel up to 0.11%, zinc up to 0.14% and silver up to 3.3 g/T.
"For a small investment of time and exploration funds, we have discovered a large number of gold prospects over a vast area. We have identified gold associated with shear zones, quartz feldspar porphyries and now iron formation. In 2010, we anticipate a considerable budget and program, which I believe will significantly advance several of the existing prospects and result in new discoveries" says Mark Kolebaba, President and CEO of the Company.
The iron formation is semi-coincident with three limbs of an apparent large regional fold that extends for more than 13 kilometres as interpreted from airborne magnetic data. Iron formation was reported on the third limb of this apparent fold by mapping and has not yet been prospected.
This new gold discovery, PB5, adds significant potential to the Amaruk project and further demonstrates this area as a new gold district. PB5 is 25 kilometres from the PB1 gold prospect that yielded up to 24.2 g/T gold and is in addition to the other 21 gold prospects already reported (see News Release NR 09-16, October 29th, 2009).
PB5 is only 5 kilometres from tide water which could provide future infrastructure benefits for the project area. Follow-up work is being planned for PB5 in 2010. Work will include geological mapping, detailed geophysics, prospecting and detailed channel sampling in preparation for drilling. The third limb of the large fold structure will be prospected to determine the extent of the iron formation.
Three of eleven grab samples collected from the iron formation returned gold values greater than 0.5 g/T; 6 returned gold values greater than 100 ppb.
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons reviewing this project. They are responsible for the design and conduct of exploration programs and the verification and quality assurance of analytical results. All assay results are provided by ALS Chemex.
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 Diamonds North Resources Ltd.
Mark Kolebaba
President & 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 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 2009 item: Thu Mar 4, 2010, Diamonds North Discovers Additional High Grade Copper, Silver, and Bismuth on Hepburn Project
You can view the Previous News Releases 2009 item: Thu Dec 24, 2009, Diamonds North Grants Incentive Options
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