Hello VP
***OFF THE WIRE***
Diamonds North Resources Ltd.: Mobilization Underway For 2003 Victoria Island Program
Tuesday May 13, 2:31 pm ET
VANCOUVER, BRITISH COLUMBIA--Diamonds North Resources Ltd. (DDN - TSX Venture) announces that mobilization for the Victoria Island Projects is almost complete with the drill programs slated to begin within the next few weeks. Diamonds North also releases an update on the drill programs completed on the Misty Lake Project and the GTEN claims.
Victoria Island
A 20 person camp is being established for the 4 month exploration program. Camp, fuel, a diamond drill rig and all ancillary equipment for a 4500 metre diamond drill program has been mobilized by Hercules aircraft using a temporary landing strip built on 7 to 8 feet of ice on a lake central to the projects. (Visit our website diamondsnorthresources.com to see photos of this operation). From this central site, a cat train is distributing the required supplies to several sites on the various projects.
All required permits for the seven Victoria Island projects are in place and it is expected that field crews will arrive by the third or fourth week of May to commence operations. Exploration plans will be released shortly for the Blue Ice, Wellington, Holman and Hadley Bay Projects.
Misty Lake
Diamonds North Resources Ltd. and SouthernEra Resources Ltd. have completed drilling five geophysical targets on the Misty claims, Northwest Territories. No kimberlite was intersected. A number of untested targets remain including two new magnetic anomalies presently being surveyed with ground geophysics. The Misty Lake Project comprises 71,000 acres of land located adjacent to the southwest border of the De Beers/Mountain Province Diamonds' Kennady Lake project, where $3 billion in diamonds have been outlined in pre-feasibility studies.
GTEN
Diamonds North Resources Ltd. and Snowfield Development Corporation have completed a nine drill hole program on the GTEN claims, located 40 km southeast of Yellowknife, Northwest Territories. No kimberlite was intersected. The drill program was designed to determine the source of kimberlite indicator minerals down ice of the claims. Further detailed sampling and geophysical work is planned for this summer to attempt to identify the kimberlite indicator mineral source.
Diamonds North believes the Misty Lake and GTEN projects offer good potential for diamondiferous kimberlite and will continue exploration on these projects.
Diamonds North Resources Ltd. is committed to discovering an economic diamond deposit in Canada. The company is involved in ten projects covering over 1.5 million acres of land in Canada's Nunavut and Northwest Territories. Seven projects are located on Victoria Island with Diamonds North as the operator; two projects are adjacent to the De Beers /Mountain Province Kennady Lake advanced stage discovery and one project is near the Drybones kimberlite in the Northwest Territories. Diamonds North is also committed to increasing shareholder value by combining a proven business model, experienced management and a strong technical team while working closely with local governments and communities.
Mark R. Kolebaba, President
Regards
Vaughn |
