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Gold/Mining/Energy : Diamonds North Resources Ltd

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To: VAUGHN who wrote (144)	6/16/2003 9:58:25 AM
From: Just G	Read Replies (1) of 334

Stockwatch News Item Diamonds North Resources Ltd (C-DDN) - News Release Majescor, Diamonds North begin Wellington drill program Diamonds North Resources Ltd DDN Shares issued 13,047,885 Jun 13 2003 close $ 0.75 Monday June 16 2003 News Release See Majescor Resources Inc (C-MAJ) News Release Mr. Jacques Letendre of Majescor and Mark Kolebaba of Diamonds North report MAJESCOR RESOURCES INC. -- DRILLING ON VICTORIA ISLAND STARTS WITH WELLINGTON PROJECT Majescor's and Diamonds North's exploration drill program has commenced on the Wellington project, Victoria Island, Nunavut. The targets chosen are on trend and have similar geophysical signatures to the diamondiferous kimberlite found on Diamonds North's Blue Ice project's Galaxy structure. The Galaxy structure is a 20-kilometre trend of semicontinuous kimberlite that to date has nine separate kimberlite bodies, four of which have anomalously high diamond counts. The program will consist of a 500-metre drill program to test four to five targets that have been verified using ground geophysics. The airborne geophysical surveys flown in 2002 identified six pipe-like and six dike-like anomalies, which have magnetic signatures similar to known kimberlites on Victoria Island. The Wellington project is located on the eastern border of Diamond North's Blue Ice project. Majescor can earn a 50-per-cent interest in the Wellington project by spending $2.25-million over three years and has approved a budget of at least $450,000 for the 2003 exploration program. Any kimberlite core recovered will be split and submitted for diamond analysis. In addition, a heavy mineral till sampling program is planned to follow up on a number of kimberlitic pyrope, ilmenite and chromite grains located by a previous reconnaissance survey on the property. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com old url (better for printing)

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