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Re: News Release - Wednesday, October 31, 2007
New Nunavut Nickel Discovery
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Vancouver, British Columbia - Oct. 31, 2007 - Diamonds North Resources
Ltd. (TSX VENTURE:DDN) announces the discovery of high-grade nickel in
outcrop on its 100% owned Amaruk property in Nunavut.
Grab samples from a highly oxidized, sulfide rich zone within suspected
gabbro yielded high nickel values with associated copper and cobalt.
Sample 1 yielded 1.36% nickel, 0.21% copper and 0.07% cobalt. Assays
from five samples collected from the location are listed below.
The sulfide mineralized outcrop is approximately 20 to 30 metres wide
and slopes gently into an extensive low lying area with no outcrop
exposure. (See photos at
http://www.diamondsnorthresources.com/s/NickelDiscovery.asp) Associated
with this location is a 700 to 1500 metre-long magnetic anomaly with
estimated widths ranging from 20 to 65 metres.
Other similar anomalies and oxidized sulfide zones exist in the area.
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Sample Assays
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Nickel Copper Cobalt
Sample % % %
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1 1.36 0.21 0.07
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2 0.92 0.25 0.05
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3 0.63 0.28 0.02
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4 0.50 0.24 0.04
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5 0.35 0.14 0.02
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"Having explored for nickel for more than 20 years, these results are
significant and highly encouraging. If other nearby anomalies or
gossans also return anomalous nickel values, we may well have
discovered a new nickel district in Canada," says Bernard Kahlert,
Director of Diamonds North.
Sulfides were observed in the outcrop samples. Due to strong
oxidization and leaching, some metal loss is likely. Hand specimens are
moderately to strongly magnetic.
The Company is planning a detailed EM survey over the area to better
define drill targets.
B. Kahlert (P. Eng.) is Diamonds North's qualified person reviewing the
data for this nickel project. Mr. Kahlert has been associated with
several nickel discoveries including Forrestania and Maggie Hays Hill
in Australia.
All samples were analyzed at ALS Chemex (ALS Laboratory Group-Mineral
Division) in North Vancouver, BC. ALS Chemex is accredited by the QMI
Quality Registrars to ISO 9001:2000, and by the Standards Council of
Canada to ISO 17025. A standard aqua-regia digestion and ICP-AES
package was used on all samples. Ore grade assays were analyzed by AA.
Diamonds North Resources is rapidly evolving and committed to building
long-term value for shareholder through ongoing discoveries and
leveraging business opportunities from its vast land holdings.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba, President and 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.
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Copyright (c) 2007 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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