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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...
May 11, 2010: Diamonds North Completes Land Acquisition at Amaruk and Defines Two Gold Bearing Districts more...
Apr 16, 2010: Diamonds North Plans Bulk Sample of Beluga-3 Kimberlite more...
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| | October 19, 2009
Diamonds North reports 9.4g/T and 24 g/T Gold on Amaruk
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| | VANCOUVER, October 19th, 2009 -- Diamonds North Resources Ltd. (TSX-V: DDN) announces high grade gold assay results from its PB1 Gold prospect on its 100% owned Amaruk property in Nunavut. A continuous rock chip sample across an oxidized sulfide zone yielded 9.4 g/T gold over 3 metres. A nearby grab sample of un-oxidized altered Quartz Feldspar Porphyry (QFP) devoid of sulfides contained 24 g/T gold. These samples are follow-up to a 5.8 g/T gold grab sample from the oxide zone reported on May 11, 2009.
The oxidized sulfide zone, which was the target for gold exploration has been observed over a length exceeding 100 metres and 3 to 8 metres wide, increasing up to 20 metres wide locally. The gold bearing QFP, which was not the original target, extends laterally tens of metres beyond the oxide zone. The full extent of the QFP is not yet known. The discovery of gold in both the surrounding QFP and the oxide zone significantly increases the potential strike, width and grade of the PB1 Gold prospect.
"In addition to our diamond discoveries, shareholders now own 100% of this gold prospect. Our 2009 program has demonstrated grade and size potential of the PB1 Gold prospect. This is a significant drill target to kick-off a major gold exploration campaign at Amaruk" says Mark Kolebaba, president and CEO of the Company.
The PB1 Gold prospect is considered high priority for drilling. Planning is underway for an exploration program to begin in the first quarter of 2010.
The PB1 Gold prospect is located along a 40 kilometre long structure and is less than 10 kilometres from the coast.
Two additional chip samples within the oxidized zones collected 15 metres east and 30 metres west of the 9.4 g/T sample returned 2.7 g/T over 3 metres and 1.3 g/T over 6 metres respectively. All assays have been rechecked by a second laboratory and all variances fall within acceptable levels. Coarse gold is suspected as gravimetric assay methods on the grab sample returned 24.3 g/T against 18.1 g/T using normal fire assay techniques.
Gold mineralization occurs in highly deformed metasedimetary rocks intruded by a stockwork of QFP dykes. Detailed examination of the QFP sample shows epidote, potassic and silica alteration. QFP's are associated with gold deposits in many settings. The extent of the QFP stockwork, a possible primary source for the gold, is not yet known.
Based on the abundance of gold grains recovered from glacial till samples spanning an area more than 100 kilometres long, numerous bedrock sources are expected at Amaruk. This is the first confirmed bedrock gold source discovered in an area never previously explored for gold. Additional rock assay results from other areas with anomalous gold in till across Amaruk are pending.
Diamond Update
The Company has collected a 6780 kilograms bulk sample of kimberlite from the Beluga-3 pipe by drilling on its 100% owned Amaruk property, located in the Pelly Bay Diamond District of Nunavut (see news release NR09-14, October 1st, 2009). Diamond processing of this sample by dense media separation (DMS) is underway. Initial Beluga-3 results returned coarse diamonds including coarse diamond fragments (see news release NR09-05, April 29th, 2009). In addition, a total of 868 kilograms of the newly discovered Kanguq kimberlite was collected from one vertical drill hole for DMS processing. The Kanguq kimberlite is located approximately 10 kilometres north of Beluga--3 and appears to represent a new kimberlite cluster on the Amaruk property.
A total of 25 kimberlites have been discovered on the Amaruk property and 90% of the kimberlites processed for diamonds are proven to be diamondiferous. Diamonds North continues to refine how targets are defined and to date, hundreds of anomalies still require testing.
Graham Gill (P. Geo) is Diamonds North's qualified person reviewing the PB1 Gold prospect. He is responsible for the design and conduct of exploration programs and the verification and quality assurance of analytical results.
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 Oct 29, 2009, Diamonds North Expands Gold Targets on Amaruk
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