DIAMONDS NORTH RESOURCES LTD. : http://www.diamondsnorth.com/ : Beatty River - Athabasca Basin
Beatty River - Athabasca Basin
Uranium North will hold 100% interest in claims;
37,000 acres over major northeast trending fault that could control mineralization in the area;
Geophysical interpretation indicates gneissic basement highs on the property;
20 kilometres east of the Shea Creek Uranium Property held by Cogema Resources Inc. and UEX Corp (drill core returned 27% U3O8 over 8.8 metres).
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The Beatty River block overlaps the Beatty River Fault Zone, a northeast-southwest trending zone which may have controlled uranium mineralization in the area. This block is approximately 20 kilometres east of the Collette deposit on the Shea Creek property where Cogema and UEX reported drill core assays up to 27.4% U3O8 over 8.8 metres and more recently 12.57% U3O8 over 11.9 metres and 27.35% U3O8 over 4.2 metres.
Preliminary interpretation of regional magnetic data over the area suggests the presence of basement highs, and other structural features which are known to be associated with uranium mineralization elsewhere in the Athabasca Basin. The Company is planning a detailed geophysical survey over the project areas to identify exploration targets.
(see Diamonds North News Release NR06-16 for details).