Diamonds North Stakes Claims With 11.2 g/T Gold Over 3 Metres
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/02/11 -- Diamonds North Resources Ltd. (TSX VENTURE: DDN) announces staking of the Yandle and River gold properties in Southern Nunavut. The Yandle claims cover several prospects one of which yielded 11.2 g/T gold over 3 metres in a historical drill hole. Within the River claim block several prospects have also been reported including a grab sample that yielded 84.0 g/T gold.
'The Yandle and River properties appear to be inadequately tested. The high grade gold mineralization with favourable strike and width characteristics suggest these properties have tonnage potential providing us with an opportunity to make a significant discovery,' says Mark Kolebaba, President and CEO of Diamonds North.
Yandle Property
In addition to the showing where 11.2 g/T gold over 3 metres was intercepted there are at least 4 other mineralized zones reported at Yandle. Numerous grab samples from these showings returned assays above 1.0 g/T gold with assays as high as 55.41 g/T gold. Gold mineralization on the Yandle property is associated with quartz-pyrite veins hosted within gabbro formations.
River Property
At the River Property gold occurs in iron formation and sedimentary rocks. Grab samples from three showings on the property have yielded numerous rock samples greater than 1.0 g/T gold and as high as 84.0 g/T gold. There are no reports of drilling at the River Property.
Diamonds North will immediately focus on the zones of high grade gold mineralization to delineate drill targets for future testing. This acquisition is a part of the Company's strategy to identify significant gold opportunities.
The Yandle and River prospects are both within the Kaminak Greenstone Belt, 15 kilometres apart and located near the Henik Lake air strip. The staked claims are subject to approval by the Nunavut Mining Recorder Office.
The historical work is from assessment reports and has not been verified by the Company, however, it 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 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.
Diamonds North will be Exhibiting (Booth # 505) at the World Resources Investment Conference June 5-6th 2011 held at the Vancouver Convention Centre East. For more information and to pre-register go to www.cambridgehouse.com.
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
(6040 689-2010
(604) 484-7143 (FAX)
info@diamondsnorth.com
www.diamondsnorth.com