 |
|
|
Dec 04, 2006 : Uranium North Set To Close Financing And Commence To Trade more...
Nov 16, 2006 : Diamonds North Announces Closing of $7 Million Private Placement more...
Oct 26, 2006 : $6 Million "Bought Deal" Financing more...
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...
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...
|
|
|
|
|
2006 | 2005 | 2004 | 2003 | 2002
| |
Tue Jun 7, 2005
Diamond Sizes Prompt Diamonds North to Increase Washburn Ownership to 100%
|
| |
News Release: 05-16
VANCOUVER, June 7, 2005 - Diamonds North Resources Ltd. (DDN-TSX Venture) announces it has negotiated an increase in its ownership in the Washburn diamond property from 52% to 100%. Ascot Resources Ltd. has exchanged its 48% interest in the property for a 2% gross overriding royalty. The Washburn property is located on Victoria Island in Nunavut, along the southeast boundary of the Blue Ice property.
This acquisition is significant for Diamonds North as it provides the company with full control of the four known kimberlite trends on Victoria Island. Evaluation of historic diamond data for the Washburn property indicates that some of the known kimberlite bodies remain highly prospective and could potentially provide tonnage to the overall Victoria Island diamond project. In addition, several geophysical anomalies remain untested on the property.
The Washburn project had been inactive for several years under the Diamonds North and Ascot partnership. Diamonds North has strategically focused exploration efforts on properties that it owns 100% and this transaction provides Diamonds North with full control of the project to aggressively explore and advance.
To date, a total of seven kimberlites have been discovered on the Washburn property including the Snowy Owl kimberlite pipe, one of the largest known kimberlite bodies on Victoria Island. The historic diamond data for the property shows that the Snowy Owl and Longspur kimberlites have both yielded +1.0 mm diamonds from relatively small drill core samples.
The recovery of +1.0 mm diamonds from small samples from the Snowy Owl and Longspur kimberlites is a strong indication to the company that these kimberlites have potential to carry large diamonds and enriched diamond content. The King Eider kimberlite, which is located on the adjacent Blue Ice property, supports this potential. A +1.0 mm diamond was originally recovered from a small sample from King Eider. This prompted subsequent collection of a larger sample that yielded several large diamonds including a 0.74 carat stone (announced April 21, 2005, NR 05-13). A total of 1.09 carats of diamonds on and above the 0.85mm sieve were recovered from the 678 kilogram King Eider sample (normalizes to 1.6 carats per tonne). Based on the King Eider diamond results, collection of larger samples from the Snowy Owl and Longspur kimberlites are warranted.
Previously, only diamond counts for the Snowy Owl kimberlite were released, and detailed diamond size data had not been reported according to the current CIM standards (presented below). The historic diamond data demonstrates high diamond counts and a robust diamond size distribution indicating the potential for larger diamonds. Snowy Owl kimberlite was processed for diamonds by total dissolution methods at the De Beers laboratory in South Africa and at the SGS Lakefield Laboratory in Ontario. The results from both laboratories are reported separately due to analysis using different sieve sizes.
Snowy Owl Diamond Results from the De Beers' Laboratory
-------------------------------------------------------------------
Weight
(kg) +1 +0.5 +0.3 +0.212 +0.15 +0.104 +0.074 Total
-------------------------------------------------------------------
154 0 0 1 5 11 27 31 75
-------------------------------------------------------------------
176 1 2 1 4 7 46 71 132
-------------------------------------------------------------------
88 0 0 6 34 86 159 178 463
-------------------------------------------------------------------
418 1 2 8 43 104 232 280 670
-------------------------------------------------------------------
* In the 88 kg sample, several fragments were recovered which may
represent a larger broken diamond.
Snowy Owl Diamond Results from SGS Lakefield
-------------------------------------------------------------------
Weight
(kg) +0.85 +0.6 +0.425 +0.3 +0.212 +0.15 +0.1 Total
-------------------------------------------------------------------
65.8 1 1 0 0 5 18 30 55
-------------------------------------------------------------------
84.3 0 1 2 1 3 13 28 48
-------------------------------------------------------------------
36.7 0 0 2 3 1 12 9 27
-------------------------------------------------------------------
186.8 1 2 4 4 9 43 67 130
-------------------------------------------------------------------
The largest diamond recovered from the Lakefield laboratory measures 1.2mm x 1.08mm x 0.86 mm with a weight of 0.011 carats and the largest stone recovered from the De Beers laboratory is twice the weight, weighing 0.021 carats (no dimensional measurements available).
Further review of the Washburn property data has also identified the Longspur kimberlite dyke as a target for further exploration. Diamond data for Longspur previously released by Major General Resources and Ascot in November 1998 is shown below. The recovery of a +1mm diamond from a relatively small sample highlights Longspur as a significant kimberlite body with potential for large diamonds.
Longspur Diamond Results from De Beers' Laboratory
---------------------------------------------------------------------
Weight
(kg) +1 +0.5 +0.3 +0.212 +0.15 +0.104 +0.074 Total
---------------------------------------------------------------------
90 1 1 0 3 8 13 12 38
---------------------------------------------------------------------
Immediately west of Washburn, Diamonds North holds a 100% interest in the 44,300 acre Red Ice property. Red Ice was initially staked based on the presence of kimberlite indicator minerals. In 2004, the property was surveyed with helicopter-borne magnetics which revealed a number of high priority anomalies including a northwest trending magnetic anomaly extending 6 kilometres with widths measuring up to 50 metres. Upon completion of a data review, a comprehensive exploration plan for the Washburn and Red Ice properties will be formulated.
Graham Gill (P. Geo.) is the qualified person reviewing the Victoria Island exploration data.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba
President & CEO
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
|
| |
| |
You can view the Next News Releases 2005 item: Mon Jun 27, 2005, Non-Brokered Private Placement
You can view the Previous News Releases 2005 item: Wed Jun 1, 2005, Uranium Potential Confirmed on Thelon Diamond Project
You can return to the main News Releases 2005 page, or press the Back button on your browser.
|
|
|
|
|
