Diamonds North Acquires Permits with Grab Samples as High as 43.9 g/T Gold
18 Maggio 2011 - 4:05PM
Marketwired
Diamonds North Resources Ltd. (TSX VENTURE: DDN) announces the
acquisition of exploration permits over gold showings where grab
samples as high as 43.9 g/T gold were reported. The acquisition and
evaluation of the Fox Property in Southern Nunavut is part of the
Company's strategy to identify significant gold opportunities.
The Fox property is comprised of four permits covering an
estimated 45 kilometre strike length of prospective volcanic and
sedimentary rocks including iron formation. This geological package
is reported to be intersected by the Pyke Fault which is believed
to control mineralization at the Meliadine Gold deposit (resource
of more than 5 million oz gold (i)).
Several known gold prospects have been reported on the permit
block. The Fox prospect comprises 2 distinct sub-parallel iron
formation occurrences that have yielded grab samples assaying in
the 1 to 43.9 g/T gold range over 2.2 kilometres. The Am prospect
which is located 12 kilometers north of the Fox prospect comprises
a gold bearing iron formation with numerous gold values ranging
from 1 to 9.8 g/T gold.
"The project covers 45 kilometres of under-explored gold
prospective geology with proven high grade assays. A new low cost
exploration approach could lead to significant new discoveries,"
says Mark Kolebaba, President and CEO of Diamonds North.
The gold values reported were extracted from assessment reports
and have not been verified by the Company, however, the work
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, as defined by National Instrument
43-101, reviewing this project.
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
(i) Meliadine Resource estimate includes: measured, indicated
and inferred categories. Extracted from: Comaplaex Minerals Corp.:
Meliadine Gold Project, Nunavut, Canada. Technical Report. February
2010.
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
Grafico Azioni Diamonds North Resources Ltd (TSXV:DDN)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Diamonds North Resources Ltd (TSXV:DDN)
Storico
Da Giu 2023 a Giu 2024