|DIAMONDS NORTH RESOURCES LTD. : http://www.diamondsnorth.com/ : News Releases 2006
Thu Oct 5, 2006
19 New Kimberlite Float Occurrences on Amaruk Further Demonstrates the Prolific Nature of the Property's Central Block
Vancouver, October 5th, 2006 -- Diamonds North Resources Ltd. (DDN -- TSX Venture) announces that nineteen new kimberlite float occurrences have been discovered on its 100% owned Amaruk property in the Pelly Bay region in Nunavut. Eighteen of the nineteen float occurrences were found in locations separate from the 5 drill confirmed kimberlites announced on September 20, 2006. Significant volumes of kimberlite were collected from eight of these new occurrences and are being analyzed for diamonds. The diamond results will be used to prioritize the associated targets for drilling.
The nineteen kimberlite float occurrences discovered this year are in addition to the fifteen discovered in 2005, bringing the total to more than 30 discrete prospects. Each of the occurrences is associated with one or more geophysical anomalies. The kimberlite varies from site to site and is mainly comprised of macrocrystic hypabyssal kimberlite. Over one tonne of kimberlite was collected from the eight occurrences and is summarized in the table below; this is in addition to the 3 tonnes of kimberlite submitted for diamond analysis from the 5 drilled kimberlites (Umingmak, Qavvik, Walrus, Beluga & Char).
Float Occurrences Name sample weight (Kg) KFS-1 160 KFS-2 173 KFS-3 80 KFS-4 130 KFS-5 183 KFS-6 87 KFS-7 145 KFS-8 139In 2006 more than 1400 till samples were collected from the property of which 240 have been processed. From this new data, several new areas have been identified with anomalous kimberlite indicator minerals which led to the discovery of four new kimberlite float occurrences. Two till samples from one of the areas yielded more than 58,000 and 10,000 kimberlite indicator minerals respectively (lab estimates, more than 800 grains in the 1 to 2 mm size fraction) indicating proximity to source. These areas will be followed-up by further prospecting and geophysics. A small portion of the till samples have been processed and the Company believes as the remaining samples are processed it is likely that additional areas with anomalous kimberlite indicator minerals will be identified. This is significant in that most of the kimberlites discovered to date have all been located in areas of indicator mineral support.
During the 2006 exploration program, over 25,000 line kilometres of detailed magnetic surveying was completed over parts of the property not previously flown. Preliminary interpretation has identified numerous targets for drilling. Any new targets generated will be in addition to the 300 plus already identified on the central block from previous data.
The kimberlite float samples have been shipped to SGS Lakefield Research Laboratories for caustic fusion and diamond recovery.
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons reviewing the data for the project.
The Pelly Bay region is Canada's newest diamond district. Diamonds North has the dominant land position in the region and is exploring a kimberlite field with proven diamondiferous kimberlite and exceptional diamond characteristics. With the recent discovery of 23 new kimberlite occurrences by drilling and prospecting, the Company believes that the Amaruk project offers shareholders increased opportunity of discovering Canada's next diamond mine.
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
For further information, please contact:
Diamonds North Resources Ltd.
Corporate Communications: Nancy Curry
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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