DIAMONDS NORTH RESOURCES LTD. : http://www.diamondsnorth.com/ : Hepburn Project
Numerous uranium showings near or at surface
2.73% and 1.67% U3O8 over 0.5 metres and 2 metres widths respectively reported to extend along strike for approximately 500 metres at the UO prospect
0.64% U3O8 over 10 metres extending for nearly 500 metres at the GP prospect
1.06% U3O8 from grab sample from 10m wide structurally controlled zone at the BP prospect
Several other bedrock showings and boulder occurrences with elevated U3O8 on the property.
Hepburn Property -- 100% owned
The Hepburn property overlies segments of the Hornby Bay Basin. This basin offers unconformity type uranium deposit potential and is relatively under explored in relation to the Athabasca Basin. Other uranium deposit type potential for the property include IOCG deposits and vein type deposits. Uranium exploration activity in the Hornby Bay Basin has recently increased dramatically by several uranium explorers including Cameco Corporation. The prospect descriptions provided below cover three regions on the property and are based on historical reports that have not yet been verified by the Company.
Southern Hepburn -- This area comprises two known prospects, the UO and GP prospects, which are located approximately 1 kilometre apart. These prospects provide the company with potential early drill ready opportunities. The potential concentration, widths and extent of the uranium mineralization at the UO and GP Prospects represent significant opportunity. Exploration plans will be finalized upon the completion of a successful site visit to confirm the historic data. The plans for this year will include prospecting, airborne surveying, ground geophysics and drilling over and between the prospects to determine the full extent of the uranium mineralization.
UO Prospect - The Geological Survey of Canada reports that the Ridley Mines Holding Company found 2.73% U3O8 over 0.5 metres and 1.67% U3O8 over approximately 2 metres width within a dacite porphyry fault breccia at the UO Prospect. The total width of the zone is estimated at 3 to 5 metres extending for about 500 metres.
GP Prospect - Moresby Mines reported assays of up to 0.64% U3O8 from a radioactive zone measuring 10 metres wide and extending for approximately 500 metres in a brecciated dacitic porphyry at the GP Prospect.
Central Hepburn -- Several known prospects including the BP, HP Lake, Bonana Lake, St. Germain and Comur Prospects were discovered along a 30 kilometre north-south trending portion of Hornby Bay Basin sediments. In addition, the basement rocks in the area are overlain by rocks of the McTavish Group, which are also highly prospective for uranium. The Central Hepburn region represents over 1125 square kilometres with known prospects and remains under-explored.
BP Prospect -- During a prospecting program, BP Minerals Canada collected a grab sample of foliated granite from a 10 metres wide shear zone. The sample returned 1.06% U3O8. No record of a follow-up program has been identified.
HP Lake Prospect -- A grab sample from a sedimentary/volcanic rock contact returned values up to 1% U3O8.
Bonana Lake -- Bedrock samples recovered from trenches by Cominco returned assays of 0.1 to 1% U3O8.
St. Germain and Comur Showings -- Several uranium occurrences of about 0.025% U3O8 have been identified in outcrop and in drill core by Cominco. These anomalous uranium concentrations may represent potential for higher U3O8 concentrations and require further exploration.
Northern Hepburn -Diamonds North holds 50% interest on 5 of the BB block claims in the northern part of the Hepburn property. Six uranium occurrences with up to 0.82% U3O8 have been identified by Aramis Ventures. At BB Lake, lake sediments have returned uranium values ranging from 23.7 ppm to 115ppm U3O8. This is reported as the highest known uranium concentration in a lake sediment sample in region.