|DIAMONDS NORTH RESOURCES LTD. : http://www.diamondsnorth.com/ : News Releases 2005|
Tue Apr 12, 2005
Prioritization of Drill Targets on Arnak
|Vancouver, April 12, 2005 -- Diamonds North Resources Ltd. (DDN -- TSX Venture) announces that an estimated $1,000,000 exploration program on the Arnak property in Nunavut is underway. Kennecott Canada Exploration Inc., the project operator is currently mobilizing for a geophysical ground surveying program designed to prioritize targets for drilling this year.
Mark Kolebaba the company's president states, "The rapid advancement of the Arnak project from land acquisition to drill testing targets within a year, demonstrates the effectiveness of good partnerships."
Interpretation of 20,000 line kilometers of magnetic airborne data has been completed and 89 geophysical anomalies have been identified. Approximately10 of the anomalies are high priority and 33 are moderately high priority. More than 20 of the anomalies have been selected for ground geophysical surveying.
Preliminary indicator mineral data has recently been received for 204 till samples collected in 2004. A full suite of kimberlite indicator minerals have been recovered from various samples and microprobe data for the grains is pending. The indicator mineral and ground survey data will be used to prioritize drill targets.
Ground surveying will be the focus for most of April, drilling is expected to start in early May. Further plans for Arnak in 2005 will be determined based on the results of the drill program.
Diamonds North holds a 26% interest in the property and is funded for the first $5.5 million by Kennecott.
The Arnak exploration program is part of Diamonds North estimated $13,000,000 to $15,000,000 exploration budget for 2005 which is funded by both the company and its partners. Bruce Kienlen (P. Geol) is the company's qualified person reviewing the project 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
President & CEO
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