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Re: News Release - Thursday, October 29, 2009
Diamonds North Expands Gold Targets on Amaruk
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News Release: 09-16
VANCOUVER, October 29th, 2009 - Diamonds North Resources Ltd. (TSX-V:
DDN) announces the discovery of 21 additional gold target areas on its
100% owned Amaruk property in Nunavut. These areas are in addition to
the recently announced PB1 gold prospect where a continuous rock chip
sample yielded 9.4 g/T gold over 3 metres and a nearby grab sample
contained 24 g/T gold (see news release NR09-15, October 19th, 2009).
First pass regional prospecting of an 80 x 80 kilometre area on Amaruk
has identified numerous gold occurrences predominantly in the central
part of the Amaruk property:
1. 3 regions with assays greater than 1.0 g/T gold
2. 7 regions with samples yielding 100 ppb to 1.0 g/T gold
3. 11 regions with elevated gold between 20 and 100 ppb
Each of these gold target areas are discrete and represent an
exploration target area in the order of about 5 x 5 kilometres. All
regions are within 50 kilometres of the coast.
"These are extraordinary results for first pass prospecting in such a
large region never previously explored for gold. Based on the
abundance of gold grains in till samples, the gold results at the PB1
prospect and the extent of areas with gold mineralization, I believe
that we have just scratched the surface of a new gold district. The
Company has begun planning for an extensive gold exploration program on
Amaruk to coincide with our
Diamond program" says Mark Kolebaba,
President & CEO of Diamonds North.
Prospecting was conducted in areas with abundant gold grains in till
samples (see news release NR09-11, July 14th, 2009). A total of 207
rock samples were collected. These initial results outline 21 areas
requiring immediate follow up prospecting and sampling prior to
drilling. This is encouraging due to the fact that in most cases, only
one day of prospecting along a single traverse by a two person
prospecting team was conducted at each site with the objective of
identifying bedrock sources. Bedrock gold sources have not yet been
identified at some of the most significant gold in till anomalies on
the property. The Company has also identified additional regions with
anomalous gold in till samples that have not yet been prospected.
As part of the prospecting program, previous holes drilled by the
Company on the property that intersected sulfide bearing rocks rather
than kimberlite have been analyzed. Drill hole GA-5 (now named PB2)
which contained gold is described below. Fifteen additional drill holes
with sulfides will be reviewed for gold potential.
Geological site descriptions for regions with samples yielding greater
than 1.0 g/T gold are provided below.
PB2
Rock samples with sulfides from a reverse circulation drill hole
targeting kimberlite yielded 1.4 g/T and 1.0 g/T gold over 2 separate
1.5 metre intervals. Ten additional 1.5 metre samples from the drill
hole have been submitted for assay. All samples contain sulfide
minerals.
A small gold in till anomaly occurs down-ice of the drill hole,
however, a much larger gold in till anomaly occurs 2 kilometres up-ice.
Based on the glacial ice flow direction and the location of the drill
hole in relation to the main till anomaly, much more gold
mineralization is expected immediately up-ice of PB2.
PB3
At PB3, four grab samples were collected from rusty gossan zones in
probable metasedimentary rocks. Sulfides including pyrite and
chalcopyrite were observed. The best assays contain 1.2 g/T and 0.6 g/T
gold and up to 49.5 g/T silver. Base metal values are elevated (0.14%
Cu, 0.57% Pb and 0.29% Zn). Similar gossan zones were observed over an
area spanning about 1 kilometre.
PB4
At PB4, abundant sulfide bearing angular boulders were identified over
an area spanning approximately 1 kilometre. The source of the boulders
appears to be the contact of a quartz diorite pluton intruding
metasedimentary rocks. A total of five samples were collected for
assay. Sample 24236 which is the closest sample to the quartz diorite
contact yielded 1.0 g/T gold.
Planning is underway for an extensive gold exploration program to begin
in the first quarter of 2010. The PB1 Gold prospect is considered high
priority for drilling and plans for the other 21 gold prospects include
detailed mapping and prospecting in preparation for drilling. Plus
additional prospecting will be conducted on other unexplored till
anomalies.
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's
qualified persons reviewing this project. They are responsible for the
design and conduct of exploration programs and the verification and
quality assurance of analytical results. All assay results are
provided by ALS Chemex.
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
For additional information please contact:
Nancy Curry
VP Corporate Communications
Diamonds North Resources Ltd.
Telephone: (604) 689-2010
Facsimile: (604) 484-7143
Email: info@diamondsnorth.com
Website: www.diamondsnorth.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. 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.
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Copyright (c) 2009 DIAMONDS NORTH RESOURCES LTD. (DDN) All rights
reserved. For more information visit our website at
http://www.diamondsnorth.com/ or send mailto:info@diamondsnorth.com
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