Diamonds North Resources Ltd
Targeting Canada's Next Diamond Mine
Message: Reveals High Copper and Silver Values on Hepburn
| May 21, 2009 | |
| Diamonds North Reveals High Copper and Silver Values on Hepburn | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) announces high copper-silver mineralization from drill core and trench samples on its 100% owned Hepburn property in the Northwest Territories. Historic drill holes intersected zones with 1 to 4% copper and silver as high as 203 g/T. Regional exploration by Diamonds North has also identified additional copper-silver mineralization along strike for 1 kilometre and in stratigraphically similar rocks 1.5 kilometres south of the historic drill holes. In addition, 5 separate geophysical magnetic anomalies with copper-silver potential have been identified over a 12.5 kilometre long area, potentially defining a new large scale copper-silver district. Two historic angle drill holes from a single site drilled beneath Trench 1 intersected 13-15 metres of sulfide mineralization with high grade copper and copper-silver zones as reported in the table below. Drill hole 2 intersected 4.71 metres of 2.4% copper and 99 g/T silver including a 2.07 metre zone with 4.11% copper and 203.4 g/T (6 opt) silver. Trench 2 sampled similar rocks which yielded 1.5% copper over 2 metres approximately 1 kilometre west of Trench 1. Trench 3 also sampled similar rocks which yielded 2.5% copper approximately 200 metres from Trench 1 (view a series of geophysical and geological maps highlighting the copper-silver potential of the Hepburn property at http://www.diamondsnorthresources.co... ). "The copper/silver discovery on Hepburn demonstrates the district scale commodity potential of the north and Diamonds North's commitment to capturing value for shareholders from its large land portfolio. The Company believes we are at the start of a new metals cycle and is positioning itself and its portfolio to capitalize on the opportunity," says Mark Kolebaba, President & CEO of Diamonds North. ---------------------------------------------------------------------------
Drill True
From To Intercept Width(i) Cu Ag
(m) (m) (m) (m) (%) (g/T)
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DDH 1 7 12.5 5.5 4.3 1.8 78.02
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Including 7 11.13 4.13 3.3 2.4 103.91
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DDH 1 17 18.69 1.69 1.33 1.5 4.8
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DDH 2 7.8 12.51 4.71 3.0 2.4 99.0
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Including 9.07 11.14 2.07 1.33 4.11 203.4
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DDH 2 12.51 18.23 5.72 3.7 1.1 2.32
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Trench 1(ii) Historic N/A 3.0 2.8 159.1
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Trench 2 Historic N/A 2.0 1.5 N/A
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Trench 1(iii) DDN N/A 3.0 2.9 218.5
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Trench 3 DDN N/A 1.0 2.5 11
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(i) True width estimate assumes vertically dipping stratigraphy.
(ii) A 0.25m chip sample by CEGB Exploration assayed 3.2% Cu, 1613.8 g/T Ag
and 0.615% U3O8.
(iii) Diamonds North's continuous chip sampling of Trench 1 confirms
historic sampling.
Two dominant styles of mineralization have been observed on the property: one being a copper only and the other a higher grade, wider copper-silver zone. Copper mineralization exists mainly as chalcopyrite and bornite. Increased copper grades in the copper-silver zones are reported to reflect higher bornite content. Other showings in the area are reported to contain chalcocite and native copper in addition to the chalcopyrite and bornite. Alteration minerals observed in the host rocks include potassium, hematite, actinolite, magnetite, chlorite, epidote and albite. Brecciation and late stage quartz veining are common. Important pathfinder elements such as cerium, lanthanum and barium are elevated in rock samples collected by Diamonds North. Geology The copper-silver mineralization is hosted by sedimentary and volcaniclastic rocks of Proterozoic age in the Wopmay fold belt of the Northwest Territories. A number of copper prospects are known in this area, including the Nico deposit. Suspected folding of this rock package based on airborne magnetic data may increase strike length by 2 to 3 times. The historic drilling and trench sampling discussed in the table above is limited to a few locations along the northern margin of the magnetic anomaly. Additional grab samples collected by the Company show copper and silver mineralization is more widespread than originally reported. Metal values from twenty of twenty four grab samples range from 1% to over 30% copper with 3 to 1129 g/T silver. Uranium mineralization is less common and is as high as 0.45% U3O8. In addition, several copper and copper-silver occurrences have been reported at different stratigraphic levels, further increasing the size potential of the mineralized system. Airborne geophysical surveying has delineated a discrete 3.5 x 1.5 kilometre highly magnetic anomaly flanked by a linear radiometric anomaly to the south. The linear airborne radiometric anomaly extending for several kilometres along the south margin of the magnetic anomaly was targeted as a possible location for additional mineralization. A limited budget and only one day of sampling and prospecting in this area in 2008 led to the discovery of areas with what appears to be visual copper mineralization, anomalous copper in soils and rock grab samples with up to 3.29% copper. Areas in this vicinity with visual copper mineralization have not yet been sampled and will be part of the 2009 exploration program. 2009 Exploration Objectives The continuity of mineralization is not yet known. The Company plans to conduct further prospecting to determine the extent and continuity of the mineralized zone prior to initiating a drill program. In addition, further prospecting and follow-up of samples with anomalous copper in similar areas to the north and south of the main block is planned. All historic information provided here is from assessment reports submitted to the Northwest Territories Mining Recorder by Rhonda Mining Corporation in 1998 and CEGB Exploration Canada in 1985. Reliability of the historic data cannot be verified by the Company, however, it appears to have been collected using acceptable practices at the time. Samples collected by the Company are consistent with the sample results reported in the past. Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons reviewing this project. They will be responsible for the design and conduct of future exploration programs and the verification and quality assurance of analytical results. 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 and CEO |
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