Feb 19, 2013
: Amalgamation of Uranium North and Diamonds North Complete; Adamera Minerals Corp to Begin Trading more...
Feb 08, 2013
: Diamonds North and Uranium North Shareholders Approve Amalgamation more...
Dec 05, 2012
: Uranium North and Diamonds North Agree to a Strategic Business Amalgamation more...
Nov 29, 2012
: Diamonds North and Uranium North Report Trenching Yields 20 g/t Gold over 1.5 metres on Washington Gold Project more...
Oct 23, 2012
: Diamonds North and Uranium North Report Acquisition of Talisman Copper-Silver Mine more...
Oct 18, 2012
: Diamonds North and Uranium North Report High Gold and Silver Values at Empire Creek Property more...
Oct 11, 2012
: Diamonds North and Uranium North Announce Trenching Commences on the Poland China Gold Project more...
Oct 04, 2012
: Gold Target Areas Identified on the Poland China Project more...
Sep 18, 2012
: Diamonds North And Uranium North To Evaluate Gold Potential Of The Alder Mine In Washington State more...
Aug 14, 2012
: Diamonds North And Uranium North Complete Work On The Golden Reward Project more...
Jul 26, 2012
: Diamonds North and Uranium North Commence Exploration Program on Empire Creek more...
Jul 18, 2012
: Diamonds North and Uranium North Acquire Gold Property in Washington State, Exploration is Underway more...
Jun 13, 2012
: Diamonds North Continues to Build a Postion in Washington State with Additional Gold Asset more...
Jun 07, 2012
: Diamonds North Begins Exploration Program on the Poland China Gold Project in Washington State more...
Jun 01, 2012
: Diamonds North and Uranium North to Present Washington Gold Projects at the World Resource Investment Conference more...
May 31, 2012
: Diamonds North and Uranium North Acquire Gold Projects in Washington State more...
Mar 02, 2012
: Diamonds North Copper-Silver IOCG Video Presentation & Exhibiting at PDAC Booth 2322 more...
| ||July 18, 2012|
Diamonds North and Uranium North Acquire Gold Property in Washington State, Exploration is Underway
| ||Vancouver, BC, July 18, 2012 --Diamonds North Resources (TSX-V: DDN) and Uranium North Resources Corp. (TSX-V: UNR) ("the "Companies") announce the acquisition of the Pierre Creek Gold property in Stevens County, Washington State. Exploration work on the property is already underway.|
The exploration target at Pierre Creek is a high grade gold-silver skarn deposit similar to the Buckhorn Deposit which is located 70 kilometres to the west. The Buckhorn Mine is a high grade, one million ounce underground gold mine owned by Kinross. It is currently the third highest grade gold deposit in production in the United States.
The Companies have observed several similarities between the Pierre Creek Property and the Buckhorn Deposit area. Both areas occur in comparable geology with rocks of the same approximate age, and both are proximal to gold bearing iron ore skarn deposits grading up 3 to 4.5 g/t gold. The three historic gold bearing iron ore skarn mines that are within the vicinity of Pierre Creek lie along major lineaments. The property also covers the extension of three major lineaments, numerous mineralized showings and a broad alteration zone associated with skarn deposits.
"The similarities to the Buckhorn Mine area and its location, only 82 kilometres by existing road to the Kinross Mill, combine to make Pierre Creek a very exciting property," says Mark Kolebaba, President and CEO of the companies.
Initial stages of exploration will consist of mapping, sampling and magnetic surveys. Reports of geological and geophysical work, including 5 drill holes were completed between 1990 and 1994 by Homestake, Chevron and Pathfinder. Results for this work are not available.
The Pierre Creek property has a 0.25% royalty payable to a consulting geologist. The royalty may be purchased at any time for the value of 300 ounces of gold. The 2437 acre property is comprised of 1797 acres of federal land and 640 acres state lease. The 640 acre state lease is subject to the terms of the state mineral prospecting lease as prescribed by the State of Washington.
Diamonds North Resources Ltd. and Uranium North Resources Corp. have formed and jointly own Minerals North LLC, a Nevada registered company with the objective to explore mineral deposits in Washington State. This partnership demonstrates the Companies' commitment to increasing shareholder value while maintaining low exploration costs. The Companies are actively seeking joint venture partners for their northern Canadian projects as they represent significant opportunities.
Graham Gill P.Geo and Bruce Kienlen P. Geol will be the Qualified Persons as defined by National Instrument 43-101 reviewing the data collected and overseeing the project.
On behalf of the Board of Directors.
President & CEO
For additional information please contact:
Diamonds North Resources Ltd.
Manager, Corporate Communications
Telephone: (604) 689-2010
Facsimile: (604) 484-7143
Uranium North Resource Corp
Manager, Corporate Communication-
Fax: 604- 484-7143
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. Grams per tonne are noted as g/t. All dollar amounts are expressed in Canadian dollars, unless otherwise specified.
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