Diamonds North Resources Ltd. and International Samuel Exploration Corp.: Exploration Underway on 330 Kimberlite Targets on Uall
May 29 2008 - 8:00AM
Marketwired Canada
Diamonds North Resources (TSX VENTURE:DDN) and International Samuel Exploration
Corp. (TSX VENTURE:SAZ) announce that the 2008 Ualliq exploration program is
underway. A total of 330 airborne geophysical targets have been identified, of
which approximately 80 are rated as high to moderate priority. Significantly, 47
of the targets range in size from 2 to 7 hectares.
The Companies have approved a two phase program designed to screen targets ahead
of an intensive drilling program. A camp has been established and field work is
underway. The Ualliq property is located near Diamond North's Amaruk discovery
in the Pelly Bay Diamond District of Nunavut where 22 kimberlites have been
discovered, including the highly diamondiferous Tuktu kimberlite (see Diamonds
North News Release dated May 27, 2008).
The two Companies have adopted an exploration approach similar to the approach
taken on the Amaruk property. This year's plan includes ground geophysics on 60
to 100 airborne geophysical targets. Up to 20 targets will be drill tested to
confirm the presence of kimberlite. Any kimberlite intersected will be submitted
for microdiamond analysis.
"The Ualliq property is advancing much like the Amaruk property did," says Mark
Kolebaba, President and CEO of Diamonds North. "We are seeing good mineral
chemistry and a large number of targets, some with considerable size potential.
Based on current data, it is very likely that the Amaruk kimberlite field
extends on to the Ualliq property."
Conrad Swanson, President of International Samuel, states, "The Ualliq property
benefits from the exploration knowledge gained from over $20 million of diamond
exploration on the adjacent Amaruk property. I think we have a great chance for
discoveries here."
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's qualified
persons reviewing these projects. They are responsible for the design and
conduct of the exploration programs and the verification and quality assurance
of analytical results.
ABOUT DIAMONDS NORTH
Diamonds North Resources is the dominant explorer in the Pelly Bay region and is
focused on discovering Canada's next diamond mine. The Company is rapidly
evolving and committed to building long-term value through ongoing diamond
discoveries.
ABOUT INTERNATIONAL SAMUEL
International Samuel is an active diamond explorer with a drill program planned
for the Ualliq property and a VTEM survey on its Reed Lake property located in
the prolific Flin Flon mining camp.
ON BEHALF OF THE BOARDS OF DIRECTORS
Mark Kolebaba, President & CEO
Diamonds North Resources Ltd.
Conrad Swanson, President & CEO
International Samuel Exploration Corp.
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.
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