Diamonds North Identifies a New Type of Kimberlite Target on Amaruk
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/24/11 -- Diamonds North Resources Ltd. (TSX VENTURE: DDN) reports that it has identified several new kimberlite targets on the Amaruk property using Electromagnetic (EM) airborne data and plans for evaluating this new generation of prospective targets are underway. The Amaruk Property is located in the Pelly Bay Diamond District in Nunavut, Canada.
Diamonds North has adopted the use of an innovative electromagnetic (EM) geophysical method that is interpreted to penetrate the conductive overburden cover in the region. This targeting has led to the identification of sizable kimberlite targets (greater than 400 metres in diameter) with kimberlite indicator mineral support. The potential of this EM method prompted the recent partnership with Indicator Minerals Inc. on the adjacent Barrow Property (See News Release 11-04, March 22, 2011) and provides Diamonds North with the opportunity to expand the application of this targeting system over a larger prospective region.
'For the first time we have identified priority EM targets on Amaruk. I believe this could be a significant breakthrough for discovering economic kimberlites in the region. It should be noted that the kimberlites mined at the Ekati and Diavik Diamond Mines are EM conductors and we are eager to test this new range of targets on Amaruk and Barrow,' says Mark Kolebaba President and CEO of Diamonds North.
Previously, interpretation of airborne EM over many parts of the Amaruk and the Barrow property has been ineffective as a targeting tool for kimberlite due to the presence of conductive overburden. Until recently the only effective geophysical kimberlite targeting tool available in the area has been through the use of magnetic data. Targeting with magnetics has lead to the discovery of 25 kimberlites and drilling has confirmed that Amaruk is a diamondiferous kimberlite field.
Diamonds North intends to apply this new innovative method of EM to other parts of the Amaruk and Barrow properties targeting crater facies kimberlites. Kimberlite indicator mineral trains with highly prospective chemistry remain unresolved across the property. Re-interpretation of the indicator mineral data is currently underway.
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) will be Diamonds North's qualified persons 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
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