Hello Just G
With lack of progress down your way perhaps DB's will join DDN.V up here again (now MAJ too). Looks like their hedging some Ottish bets.
Majescor Joins Diamonds North on Victoria Island Diamond Play
MONTREAL, Sept. 24 /CNW/ - Today, Majescor Resources Inc. (MAJ-TSX
Venture) and Diamonds North Resources Ltd. (DDN-TSX Venture) announced the
execution of a letter agreement whereby Majescor can earn a 50% interest in
Diamonds North's Wellington project by spending $2,250,000 by December 31,
2005.
The first part of the three-year program includes detailed helicopter-
borne magnetic surveying of more than 15 geophysical anomalies selected from a
previous high-resolution fixed-wing survey, and the drilling of top priority
targets. Geophysics is underway and should be completed this week. Drilling of
any resulting targets is planned. Re-sampling of the known diamondiferous
kimberlite dyke occurrence is also slated for an immediate start. Diamonds
North will be operator of the program. The agreement is subject to approval of
regulatory authorities.
The Wellington project is located on Victoria Island, Nunavut, it covers
228,782 hectares which include 95,798 hectares of claims and permits that are
known to contain one diamondiferous kimberlite dyke and several related
structures. The Wellington project area also includes the northern and
southern extensions of the Washburn kimberlite trend which hosts six
diamondiferous pipes, as well as the southern extension of the Galaxy trend
which has recently yielded diamondiferous kimberlite (118 diamonds, with
several one millimeter plus stones were recovered from a 6.49 kilogram sample
from Diamonds North 100% owned Blue Ice project).
"We believe that the partnership with Diamonds North on this exciting
diamond play is very significant for our company as it gives Majescor a
foothold in an under explored region of an Archean craton. This area is
know to host diamondiferous kimberlites and many high-priority
geophysical anomalies remain to be tested. We see the extension of our
activities to this new area as very positive for the shareholders." says
Jacques Letendre, of Majescor Resources.
"There is a great opportunity to discover significant diamond bearing
kimberlites in Nunavut and we are pleased that Majescor has joined us.
Through the commitment and expertise that both companies bring to this
Project, I believe tremendous value has been added for our respective
shareholders." said Mark Kolebaba
Diamonds North (TSX - DDN) holds more than one million acres in Canada's
far north and is active in eight prospects with six projects on Victoria
Island; one adjacent to the De Beers/Mountain Province advanced discovery; and
a project near the Drybones kimberlite in Northwest Territories.
Majescor is an exploration company with the largest diamond portfolio of
properties in Quebec.
On behalf of the Board of Diamonds North Resources Ltd. and Majescor
Resources Inc.
Hope all is well
Vaughn |
