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News Release 2010 - Tuesday, August 17, 2010
Diamonds North Increases Extent Of HI-2 Iron Formation Over 800%
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VANCOUVER, August 17th, 2010 -- Diamonds North Resources Ltd. (TSX-V:
DDN) has completed initial gold prospecting at the HI-2 iron formation
on the 100% owned Halkett Inlet property located in Nunavut. The extent
of iron formation and potential gold mineralization has now been traced
for at least 55 kilometres, a significant increase from the 6.5
kilometres (see News Release NR10-01, January 17th, 2010). A total of
428 geochemical samples have been collected for analysis.
"The 2010 prospecting campaign has been very successful as it has moved
this regional target quickly into what could be a very significant gold
play" says Mark Kolebaba, President & CEO of Diamonds North.
The iron formation measures 1 to 3 metres wide and in some areas up to
20 metres wide. Preliminary grab samples from HI-2 collected in 2009
yielded assays between 0.7 and 1.2 g/T gold demonstrating that the iron
formation is gold bearing. The HI-2 prospect is only 5 kilometres from
the coast.
Graham Gill (P. Geo) is Diamonds North's qualified person as defined by
National Instrument 43-101, reviewing this project. Mr. Gill is
responsible for the design and conduct of exploration programs and the
verification and quality assurance of analytical results.
About Diamonds North
Diamonds North Resources is rapidly evolving and committed to building
long-term value for shareholders through ongoing discoveries and
leveraging business opportunities from our vast land holding.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba
President & CEO
For additional information please contact:
Nancy Curry
VP Corporate Communications
Diamonds North Resources Ltd.
Telephone: (604) 689-2010
Facsimile: (604) 484-7143
Email: info@diamondsnorth.com
Website: www.diamondsnorth.com
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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Copyright (c) 2010 DIAMONDS NORTH RESOURCES LTD. (DDN) All rights
reserved. For more information visit our website at
http://www.diamondsnorth.com/ or send mailto:info@diamondsnorth.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : DDN.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Diamonds North is a diamonds exploration company based in Canada. Diamonds North holds various exploration projects in Canada. Its main exploration properties are SIKU, BANKS ISLAND, UALLIQ and VICTORIA ISLAND in Canada. Diamonds North is listed in Canada and in United States of America. Its market capitalisation is 948 844 as of today (US$ 923 130, € 691 055). Its stock quote reached its highest recent level on January 11, 2008 at 2.07, and its lowest recent point on February 15, 2013 at 0.02. Diamonds North has 47 442 200 shares outstanding. |