DIAMONDS NORTH RESOURCES LTD. : : Amer Lake - Thelon Region

Amer Lake - Thelon Region

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The Amer Lake Property, in the Thelon region, comprises four prospecting permits near Amer Lake that have been optioned by the Company (see Diamonds North News Release NR06-16 for details).
The primary exploration target on the property is a basement-hosted uranium deposit comparable to the Kiggavik/Sissons Schultz deposits (resource of ~150 million lbs U3O8, reported by Areva) located in a similar geologic setting approximately 90 kilometres southeast of the Amer Lake property.

This permit block encompasses numerous historic uranium occurrences in outcrop, drill core and boulders. One of the highlights is a boulder discovered by Uranerz Exploration and Mining which assayed 8.8% U3O8 in the vicinity of a uranium resource defined by Aquitaine Company of Canada. The Amer Lake rocks are interpreted to be geologic equivalents of the Wollaston Fold Belt that underlies portions of the Athabasca Basin.

Initial review by MPH of historic exploration on the property identified five priority targets for follow-up on the permit block
* In the historical reports the "indicated resources" and the "inferred resources" were reported as "indicated reserves and "inferred reserves" respectively.
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This page was created on Sat Oct 21, 2006 at 3:05:06 PM Pacific Time.