Diamonds North Resources Ltd.
TSX VENTURE : DDN

Diamonds North Resources Ltd.

February 23, 2011 10:14 ET

Diamonds North Significantly Expands Gold Target on Amaruk

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2011) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) reports gold mineralization as high as 2.56 g/T gold at the Garnet Gold Showing (formally referred to as PB2). The Garnet Gold Showing is a portion of a much larger prospective region referred to as the West Formation on the Amaruk property in Nunavut. 

The Garnet Gold Showing was initially recognized after assays from a reverse circulation drill hole targeting kimberlite returned up to 1.42 g/T Au over 1.5 metres and 0.56 g/T Au over 4.6 metres (See News Release 09-16, October 29, 2009). Follow-up prospecting and the collection of 53 grab samples revealed a sub-crop with sulfide bearing iron formation intermittently exposed for more than 2 kilometres. Grab samples of this unit reported up to 2.56 g/T gold. Other samples along the iron formation returned significant gold values of 1.42 g/T gold, 773 ppb, 346 ppb, 218 ppb, 180 ppb, and 112 ppb gold. 

A likely strike extension of the Garnet Gold Showing outcrops 4 kilometres to the east from which grab samples yielded up to 1.40 g/T gold. This extension is exposed for more than 1.5 kilometres within a folded stratigraphic unit that can be traced for tens of kilometres utilizing airborne magnetic data. To view a map of the West Formation and the Garnet Gold showing visit www.diamondsnorth.com/s/AmarukGold.asp.

The Garnet Gold Showing and its extension are located along the southern part of a metasedimentary rock package that extends for approximately 45 kilometres and is as wide as 20 kilometres along the western side of the Amaruk property. This sedimentary package hosts numerous local bedrock gold occurrences and un-sourced gold-grains in till anomalies.

"The West Formation is another very large under-explored region prospective for gold within the Amaruk property. Several areas remain to be drill tested including those with multi-gram gold occurrences and the largest gold-grains in till anomalies," says Mark Kolebaba President and CEO of Diamonds North.

Of particular exploration interest is the north central core of the sedimentary rock package where the largest gold-grains in till anomalies have been identified on the property. A discrete concentration of samples with high gold grain counts covers a 100 square kilometre area. The high proportion of angular gold grains in these samples suggest close proximity to bedrock source.

Bruce Kienlen (P. Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons as defined by National Instrument 43-101, reviewing this project. They are responsible for the design and conduct of the exploration programs and the verification and quality assurance of analytical results. All assay results are provided by ALS Chemex.

About Diamonds North

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 & 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.

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