Post by GEORGE BUSH on Apr 2, 2005 12:18:30 GMT -5
biz.yahoo.com/ccn/050401/ed4ed8bc486514f0af782a09d1edb1b8.html?.v=1
Press Release Source: Diamonds North Resources Ltd.
Diamonds North Identifies Another Potential Diamond District on the Slave Craton
Friday April 1, 9:01 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 1, 2005) - Diamonds North Resources Ltd. (TSX VENTURE:DDN - News) announces the completion of a major land acquisition program in the Northwest Territories and Nunavut, 300 kilometres north of Yellowknife. A total of 1.5 million acres have been staked adjacent to 2.1 million acres of permits that were awarded to Diamonds North in February 2005. Collectively, the 3.6 million acre claim and permit block forms the Hepburn project, which covers what the company believes is a new potential diamondiferous kimberlite district along the western margin of the Slave Craton.
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The Hepburn project area is one of the few remaining regions in the Slave Craton that is virtually unexplored for diamonds. The majority of the area has never before been staked for any commodity. The Ekati Diamond Mine and Diavik Diamond Mine, Snap Lake, Jericho and Gaucho Kue diamond deposits all fall within the Slave Craton, which is still the only Archean terrain in North or South America with operating primary diamond mines. The Hepburn project represents new kimberlite and diamond indicator mineral occurrences within an unexplored region on the Slave Craton.
Mantle derived pyrope garnet, chrome diopside, eclogitic garnet, olivine and chromite grains have been recovered from multiple till samples across the property suggesting that kimberlites have intruded the region. Diamond indicator minerals such as G10 and eclogitic garnet grains discovered on the property demonstrate that the kimberlites have high diamond potential.
Distribution of indicator minerals in numerous till samples across the property offers the potential for multiple kimberlite clusters or occurrences. This large land position of over 3.6 million acres was acquired by Diamonds North to ensure that any potential kimberlite fields in the region would be completely encompassed by Diamonds North's permit and claim blocks.
The company is confident that these indicator minerals originate from kimberlites within the Hepburn claim area. The sampling program revealed a distinct up-ice cut-off that demonstrates the grains were not glacially transported from the nearest known kimberlites that are over 100 kilometres away. Primary surface textures on mineral grains including fragile kelyphite rims on garnet have also been identified providing further evidence of local kimberlite sources.
Kimberlite indicator minerals were originally discovered in the region as part of the company's 2004 Northern Recon Initiative program. Upon receipt of positive indicator mineral data, an aggressive staking campaign was immediately initiated in late 2004. Permit applications were filed in December and granted in early February 2005 (announced February 2005, NR 05-04). Staking resumed in early 2005 and was completed by March 23, 2005.
The high diamond potential in this under explored region of the Slave Craton makes the Hepburn project another key area for Diamonds North. The objective of the company is to rapidly advance this project to the drill testing stage.
Work plans for 2005 are in place for Diamonds North's projects. The Blue Ice project on Victoria Island is funded by Teck Cominco Limited, the Amaruk project in the eastern Arctic is funded by BHP Billiton Diamonds Inc. and Arnak, a project immediately south of Amaruk, is funded by Kennecott Canada Exploration Inc. These strategic partnerships enable Diamonds North to focus efforts on advancing its new projects this year.
Dale Mah (P. Geol) is Diamonds North's qualified person reviewing the data for the project.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President & CEO
--------------------------------------------------------------------------------
Contact:
Diamonds North Resources Ltd.
Nancy Curry
Corporate Communications
Phone: (604) 689-2010
Fax: (604) 484-7143
info@diamondsnorthresources.com
www.diamondsnorthresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.
biz.yahoo.com/ccn/050401/ed4ed8bc486514f0af782a09d1edb1b8.html?.v=1
Press Release Source: Diamonds North Resources Ltd.
Diamonds North Identifies Another Potential Diamond District on the Slave Craton
Friday April 1, 9:01 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 1, 2005) - Diamonds North Resources Ltd. (TSX VENTURE:DDN - News) announces the completion of a major land acquisition program in the Northwest Territories and Nunavut, 300 kilometres north of Yellowknife. A total of 1.5 million acres have been staked adjacent to 2.1 million acres of permits that were awarded to Diamonds North in February 2005. Collectively, the 3.6 million acre claim and permit block forms the Hepburn project, which covers what the company believes is a new potential diamondiferous kimberlite district along the western margin of the Slave Craton.
ADVERTISEMENT
The Hepburn project area is one of the few remaining regions in the Slave Craton that is virtually unexplored for diamonds. The majority of the area has never before been staked for any commodity. The Ekati Diamond Mine and Diavik Diamond Mine, Snap Lake, Jericho and Gaucho Kue diamond deposits all fall within the Slave Craton, which is still the only Archean terrain in North or South America with operating primary diamond mines. The Hepburn project represents new kimberlite and diamond indicator mineral occurrences within an unexplored region on the Slave Craton.
Mantle derived pyrope garnet, chrome diopside, eclogitic garnet, olivine and chromite grains have been recovered from multiple till samples across the property suggesting that kimberlites have intruded the region. Diamond indicator minerals such as G10 and eclogitic garnet grains discovered on the property demonstrate that the kimberlites have high diamond potential.
Distribution of indicator minerals in numerous till samples across the property offers the potential for multiple kimberlite clusters or occurrences. This large land position of over 3.6 million acres was acquired by Diamonds North to ensure that any potential kimberlite fields in the region would be completely encompassed by Diamonds North's permit and claim blocks.
The company is confident that these indicator minerals originate from kimberlites within the Hepburn claim area. The sampling program revealed a distinct up-ice cut-off that demonstrates the grains were not glacially transported from the nearest known kimberlites that are over 100 kilometres away. Primary surface textures on mineral grains including fragile kelyphite rims on garnet have also been identified providing further evidence of local kimberlite sources.
Kimberlite indicator minerals were originally discovered in the region as part of the company's 2004 Northern Recon Initiative program. Upon receipt of positive indicator mineral data, an aggressive staking campaign was immediately initiated in late 2004. Permit applications were filed in December and granted in early February 2005 (announced February 2005, NR 05-04). Staking resumed in early 2005 and was completed by March 23, 2005.
The high diamond potential in this under explored region of the Slave Craton makes the Hepburn project another key area for Diamonds North. The objective of the company is to rapidly advance this project to the drill testing stage.
Work plans for 2005 are in place for Diamonds North's projects. The Blue Ice project on Victoria Island is funded by Teck Cominco Limited, the Amaruk project in the eastern Arctic is funded by BHP Billiton Diamonds Inc. and Arnak, a project immediately south of Amaruk, is funded by Kennecott Canada Exploration Inc. These strategic partnerships enable Diamonds North to focus efforts on advancing its new projects this year.
Dale Mah (P. Geol) is Diamonds North's qualified person reviewing the data for the project.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President & CEO
--------------------------------------------------------------------------------
Contact:
Diamonds North Resources Ltd.
Nancy Curry
Corporate Communications
Phone: (604) 689-2010
Fax: (604) 484-7143
info@diamondsnorthresources.com
www.diamondsnorthresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.
biz.yahoo.com/ccn/050401/ed4ed8bc486514f0af782a09d1edb1b8.html?.v=1
