Uranium North and Diamonds North Begin Exploration on the Poland China Gold Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/07/12 -- Diamonds North Resource Corp. (TSX VENTURE: DDN) and Uranium North Resources Corp (TSX VENTURE: UNR) ("the Companies") announce the commencement of the 2012 exploration program on the Poland China gold property in Washington State. The Poland China property is 10 kilometres east of the Kinross Buckhorn Mine and lies within the same geological formation.
The main vein on the Poland China property is the Kismet vein which is reported to extend for more than 750 metres. Historically only about 100 metres of the vein has been mined.
The Kismet vein averages 2 metres in width and is as wide as 4.5 metres. Mine grades of 8.22 g/T to 12.7 g/T gold and 13.7 g/T silver have been recorded. Other mineralized veins reportedly exist on the property, one of which was 2.6 metres wide and traceable for 1500 metres.
Phase one of the exploration program will include geological mapping, soil sampling and geophysical surveying. The mapping and sampling will be conducted to delineate the extent of the Kismet vein and other vein occurrences on the property. The work program is expected to be completed by the end of June. The objective of this program is to define drill targets for an upcoming drill campaign.
"This is an extensive targeting program that will significantly advance the Poland China project at a cost of only $25,000 to each company. Our move to Washington State under this partnership allows us to continue to explore projects as prospective as our northern projects at a fraction of the cost," says Mark Kolebaba, President and CEO of the Companies.
Diamonds North Resources Ltd. and Uranium North Resources Corp. have formed and jointly own Minerals North LLC, a Nevada registered company with the objective to explore mineral potential in Washington State. This partnership demonstrates the Companies' commitment to increasing shareholder value while maintaining a low cost. The Companies are actively seeking joint venture partners for our northern Canadian projects as they represent significant opportunity.
Graham Gill, P.Geo, is the Qualified Persons as defined by National Instrument 43-101 reviewing the data in this news release. All the Minerals North samples were completed by ALS Canada Ltd. The historical work is from private reports and has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality.
On behalf of the Board of Directors.
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Diamonds North Resources Ltd.
Troy Shultz
Manager, Corporate Communications
(604) 689-2010
(604) 484-7143 (FAX)
Uranium North Resource Corp.
Heather Kays
Manager, Corporate Communications
(604) 484-7120
(604) 484-7143 (FAX)
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Datum: 07.06.2012 - 13:25 Uhr
Sprache: Deutsch
News-ID 154280
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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