Nickel Exploration Program Begins on Diamonds North's Amaruk Property
14 Luglio 2011 - 3:20PM
Marketwired
Diamonds North Resources Ltd. (TSX VENTURE: DDN) reports that
Minerals and Metals Group (MMG) has informed the Company that the
2011 airborne electro-magnetic survey targeting nickel has been
initiated on parts of the Amaruk - Tunerq property in Nunavut. The
survey will focus on areas with known mafic-ultramafic bodies and
nickel - copper geochemical anomalies in till (See news release
February 3, 2011).
An approximate 6,000 line kilometre Geotem Survey operated by
Fugro will be flown over several high-priority areas including the
Tunerq prospect. At Tunerq, a drill hole intersected 2.49% nickel
over 9 metres within a 35 metre wide zone assaying 1% nickel (see
news release May 22, 2008).
"The property is host to more than 50 mafic-ultramafic bodies
and large areas with anomalous nickel and copper in till samples.
The objective of the survey is to prioritize these areas and
identify conductors that could represent significant targets," says
Mark Kolebaba, President and CEO of Diamonds North.
This survey is part of the 2011 budget announced February 3,
2011 and is solely funded by MMG. A formal joint venture agreement
has been finalized which was based upon the terms defined in a
letter agreement signed by Diamonds North and MMG in March 2010
(See news release March 9, 2010). MMG may earn a 75% interest in
nickel and other base metals on the Amaruk property, by completing
a pre-feasibility study on any base metal deposit that might be
identified.
Bruce Kienlen (P. Geol) and Graham Gill (P. Geo) will review the
base metal data from this project for Diamonds North.
About Diamonds North
Diamonds North Resources Ltd. is rapidly evolving and committed
to building long-term value for shareholders through ongoing
discoveries and leveraging business opportunities from our vast
land holding.
About MMG
MMG is owned by Minmetals Resources Limited (HKSE 1208), an
international upstream base metals company. It is one of the
world's largest producers of zinc as well as a substantial producer
of copper, lead, gold and silver. Minmetals Resources Limited
currently has mining operations located in Australia and Asia and a
large portfolio of exploration and development projects in
Australia, Asia and North America. Its operations include the
Century mine in Queensland, Sepon copper and gold operations in
Laos, Golden Grove underground base and precious metals mine in
Western Australia and the polymetallic Rosebery mine in
Tasmania.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba, President & CEO
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 Corporate
Communications (604) 689-2010 (604) 484-7143 (FAX)
info@diamondsnorth.com www.diamondsnorth.com
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