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Re: News Release 2009 - Monday, October 19, 2009
Diamonds North reports 9.4g/T and 24 g/T Gold on Amaruk
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VANCOUVER, October 19th, 2009 -- Diamonds North Resources Ltd. (TSX-V:
DDN) announces high grade gold assay results from its PB1 Gold prospect
on its 100% owned Amaruk property in Nunavut. A continuous rock chip
sample across an oxidized sulfide zone yielded 9.4 g/T gold over 3
metres. A nearby grab sample of un-oxidized altered Quartz Feldspar
Porphyry (QFP) devoid of sulfides contained 24 g/T gold. These samples
are follow-up to a 5.8 g/T gold grab sample from the oxide zone
reported on May 11, 2009.
The oxidized sulfide zone, which was the target for gold exploration
has been observed over a length exceeding 100 metres and 3 to 8 metres
wide, increasing up to 20 metres wide locally. The gold bearing QFP,
which was not the original target, extends laterally tens of metres
beyond the oxide zone. The full extent of the QFP is not yet known. The
discovery of gold in both the surrounding QFP and the oxide zone
significantly increases the potential strike, width and grade of the
PB1 Gold prospect.
"In addition to our
Diamond discoveries, shareholders now own 100% of
this gold prospect. Our 2009 program has demonstrated grade and size
potential of the PB1 Gold prospect. This is a significant drill target
to kick-off a major gold exploration campaign at Amaruk" says Mark
Kolebaba, president and CEO of the Company.
The PB1 Gold prospect is considered high priority for drilling.
Planning is underway for an exploration program to begin in the first
quarter of 2010.
The PB1 Gold prospect is located along a 40 kilometre long structure
and is less than 10 kilometres from the coast.
Two additional chip samples within the oxidized zones collected 15
metres east and 30 metres west of the 9.4 g/T sample returned 2.7 g/T
over 3 metres and 1.3 g/T over 6 metres respectively. All assays have
been rechecked by a second laboratory and all variances fall within
acceptable levels. Coarse gold is suspected as gravimetric assay
methods on the grab sample returned 24.3 g/T against 18.1 g/T using
normal fire assay techniques.
Gold mineralization occurs in highly deformed metasedimetary rocks
intruded by a stockwork of QFP dykes. Detailed examination of the QFP
sample shows epidote, potassic and silica alteration. QFP's are
associated with gold deposits in many settings. The extent of the QFP
stockwork, a possible primary source for the gold, is not yet known.
Based on the abundance of gold grains recovered from glacial till
samples spanning an area more than 100 kilometres long, numerous
bedrock sources are expected at Amaruk. This is the first confirmed
bedrock gold source discovered in an area never previously explored for
gold. Additional rock assay results from other areas with anomalous
gold in till across Amaruk are pending.
Diamond Update
The Company has collected a 6780 kilograms bulk sample of kimberlite
from the Beluga-3 pipe by drilling on its 100% owned Amaruk property,
located in the Pelly Bay
Diamond District of Nunavut (see news release
NR09-14, October 1st, 2009).
Diamond processing of this sample by dense
media separation (DMS) is underway. Initial Beluga-3 results returned
coarse diamonds including coarse
Diamond fragments (see news release
NR09-05, April 29th, 2009). In addition, a total of 868 kilograms of
the newly discovered Kanguq kimberlite was collected from one vertical
drill hole for DMS processing. The Kanguq kimberlite is located
approximately 10 kilometres north of Beluga--3 and appears to represent
a new kimberlite cluster on the Amaruk property.
A total of 25 kimberlites have been discovered on the Amaruk property
and 90% of the kimberlites processed for diamonds are proven to be
diamondiferous. Diamonds North continues to refine how targets are
defined and to date, hundreds of anomalies still require testing.
Graham Gill (P. Geo) is Diamonds North's qualified person reviewing the
PB1 Gold prospect. He is responsible for the design and conduct of
exploration programs and the verification and quality assurance of
analytical results.
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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