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Oct 12, 2006 : Diamonds North and Arctic Star to Explore in Canada's Newest Kimberlit... more...
Oct 05, 2006 : 19 New Kimberlite Float Occurrences on Amaruk Further Demonstrates the... more...
Sep 27, 2006 : Drill Targets Identified on the Ualliq property more...
Sep 20, 2006 : Diamonds North Increases Kimberlite Tally to Five Demonstrating Amaruk... more...
Aug 23, 2006 : Target Testing Underway at Amaruk -- New Kimberlite Discovered more...
Aug 15, 2006 : Shear Minerals and Diamonds North to Explore the Sakari property more...
Aug 02, 2006 : Diamonds North and International Samuel to Explore the Ualliq property more...
Aug 01, 2006 : Diamonds North Closes Plan of Arrangement for Shareholders to Receive ... more...
Jul 19, 2006 : Diamonds North sets Effective Date for Shareholders to Receive Uranium... more...
Jul 17, 2006 : Pathfinder Starts Major Airborne Geophysical Survey at Thelon Basin Ur... more...
Jul 14, 2006 : Diamonds North Grants Options more...
Jul 13, 2006 : Diamonds North To Drill The Amaruk Project more...
Jul 12, 2006 : Diamonds North Completes $3,265,000 Equity Financing more...
Jul 11, 2006 : Diamonds North Financing Update more...
Jul 05, 2006 : Diamonds North and Majescor Developing Drill Targets on Banks Island more...
Jun 29, 2006 : Diamonds North Announces Equity Financing more...
Jun 27, 2006 : Diamonds North Positions Uranium North in Athabasca, Thelon and Hornby... more...
Jun 22, 2006 : Diamonds North Receives King Eider Diamond Results more...
Jun 07, 2006 : Diamonds North Appoints Uranium North's Board of Directors more...
May 09, 2006 : Amaruk Update - Microdiamond Characteristics Exceptional more...
Dec 14, 2005 : Diamonds North Completes $4,500,000 Equity Financing more...
Dec 07, 2005 : Diamonds North Increases Equity Financing To $ CDN 4,500,000 more...
Nov 23, 2005 : Diamonds North Announces Equity Financing more...
Nov 10, 2005 : Blue Ice 2005 Exploration Program Summary more...
Nov 09, 2005 : Majescor and Diamonds North Advance Potential Diamond District on Bank... more...
Sep 28, 2005 : Kimberlite Discoveries Begin on Amaruk more...
Sep 22, 2005 : Pathfinder and Diamonds North Increase Vast Land Position for Uranium ... more...
Jul 26, 2005 : Diamonds North Identifies New Uranium Opportunities on Diamond Claims more...
Jul 22, 2005 : Diamonds North Completes Private Placement more...
Jun 27, 2005 : Non-Brokered Private Placement more...
Jun 07, 2005 : Diamond Sizes Prompt Diamonds North to Increase Washburn Ownership to ... more...
Jun 01, 2005 : Uranium Potential Confirmed on Thelon Diamond Project more...
May 19, 2005 : Bill Zimmerman Joins Diamonds North Board more...
Apr 21, 2005 : King Eider Yields Three Quarter Carat Diamond more...
Apr 20, 2005 : Diamonds North and Stornoway Enter into Agreement to Explore Manitoba ... more...
Apr 14, 2005 : Diamonds North Capitalizes on Commodity Opportunities more...
Apr 12, 2005 : Prioritization of Drill Targets on Arnak more...
Apr 01, 2005 : Diamonds North Identifies Another Potential Diamond District on the Sl... more...
Mar 23, 2005 : Grant of Incentive Stock Options more...
Feb 28, 2005 : Blue Ice Property Update more...
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2006 | 2005 | 2004 | 2003 | 2002
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Wed Jun 1, 2005
Uranium Potential Confirmed on Thelon Diamond Project
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Vancouver, June 1st, 2005 -- Diamonds North Resources Ltd. (DDN -- TSX Venture) reports that Pathfinder Resources Ltd. (TSX-V: PHR) has completed a preliminary review of historic uranium data over the Thelon property in the Northwest Territories. Pathfinder informs Diamonds North that the data review has revealed several occurrences of radioactive boulders within the property including sandstone boulders with elevated uranium values up to 0.13% U3O8. One of the boulder occurrences forms a 3 kilometre wide glacial dispersion train that extends for 20 kilometres. The up-ice source for the boulders has not been determined and based on the known glacial movement and the size and extent of the Thelon property, it is likely that potential bedrock uranium sources occur on the property.
One of Diamonds North's key assets is its 27 million acres of land. An inherent advantage to controlling large land positions in under-explored regions is the potential for discovery of multiple commodities. The Thelon diamond project is a clear example of Diamonds North's ability to add value by identifying and pursuing other commodity opportunities through partnerships with no financial risk to Diamonds North.
Mark Kolebaba, President of Diamonds North adds "We will remain focused on our core business of diamond exploration, while benefiting from the potential up-side of a uranium discovery."
Diamonds North is pleased with Pathfinder's initial efforts in gathering and reviewing historic data for the Thelon Basin. The identification of uranium enriched sandstone boulders over the property confirms the uranium potential of the Thelon property and provides focus for the uranium portion of the 2005 exploration program. Pathfinder's management has been involved in the discovery of several uranium deposits in Saskatchewan's Athabasca Basin, including Cigar Lake, which is one of the world's largest high-grade uranium deposits.
The Thelon property covers approximately 2.5 million acres of exploration permits prospective for diamond and uranium. Diamonds North is actively exploring the property for diamonds and has granted Pathfinder an option to earn 80% of any uranium deposits discovered on the property. As prescribed by the agreement, Pathfinder has issued Diamonds North 1,000,000 common shares and completed a cash payment of $100,000. Diamonds North retains a 100% interest in diamonds and a 20% carried interest in any uranium deposits discovered. The Pathfinder shares are subject to a hold period and may not be traded until September 25, 2005.
Exploration plans for 2005 are currently underway and will include an extensive regional till and soil sampling program designed to evaluate the diamond and uranium potential of the property. The objective for 2005 is to identify high priority areas for geophysical surveys. Several of the newly identified uranium enriched boulder occurrences will be further explored in an attempt to establish a glacial cut-off and ultimately trace the boulders back to a bedrock source.
The qualified person reviewing uranium data for the project is John Peters (P. Geo.). The qualified person responsible for diamond exploration is Bruce Kienlen (P. Geol.)
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba
President
For further information, please contact:
Corporate Communications:
Nancy Curry
Diamonds North Resources Ltd.
Telephone:
Facsimile:
Website: diamondsnorthresources.com
Email:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release |
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