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VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2011) -
Diamonds North Resources Ltd. (TSX VENTURE:DDN) reports that Minerals and Metals Group (MMG) has informed the Company that the 2011 airborne electro-magnetic survey targeting nickel has been initiated on parts of the Amaruk - Tunerq property in Nunavut. The survey will focus on areas with known mafic-ultramafic bodies and nickel - copper geochemical anomalies in till (See news release February 3, 2011).
An approximate 6,000 line kilometre Geotem Survey operated by Fugro will be flown over several high-priority areas including the Tunerq prospect. At Tunerq, a drill hole intersected 2.49% nickel over 9 metres within a 35 metre wide zone assaying 1% nickel (see news release May 22, 2008).
"The property is host to more than 50 mafic-ultramafic bodies and large areas with anomalous nickel and copper in till samples. The objective of the survey is to prioritize these areas and identify conductors that could represent significant targets," says Mark Kolebaba, President and CEO of Diamonds North.
This survey is part of the 2011 budget announced February 3, 2011 and is solely funded by MMG. A formal joint venture agreement has been finalized which was based upon the terms defined in a letter agreement signed by Diamonds North and MMG in March 2010 (See news release March 9, 2010). MMG may earn a 75% interest in nickel and other base metals on the Amaruk property, by completing a pre-feasibility study on any base metal deposit that might be identified.
Bruce Kienlen (P. Geol) and Graham Gill (P. Geo) will review the base metal data from this project for Diamonds North.
About Diamonds North
Diamonds North Resources Ltd. is rapidly evolving and committed to building long-term value for shareholders through ongoing discoveries and leveraging business opportunities from our vast land holding.
About MMG
MMG is owned by Minmetals Resources Limited (HKSE 1208), an international upstream base metals company. It is one of the world's largest producers of zinc as well as a substantial producer of copper, lead, gold and silver. Minmetals Resources Limited currently has mining operations located in Australia and Asia and a large portfolio of exploration and development projects in Australia, Asia and North America. Its operations include the Century mine in Queensland, Sepon copper and gold operations in Laos, Golden Grove underground base and precious metals mine in Western Australia and the polymetallic Rosebery mine in Tasmania.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba
President & CEO
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.
FOR FURTHER INFORMATION PLEASE CONTACT: Troy Shultz
Diamonds North Resources Ltd.
Corporate Communications
(604) 689-2010
(604) 484-7143 (FAX)
info@diamondsnorth.com
http://www.diamondsnorth.com/">www.diamondsnorth.com
