Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Diamonds North Resources Ltd. (TSX VENTURE:DDN) has acquired 100% interest in the Esker gold property in Nunavut. The Esker claim covers several kilometres of gold bearing stratigraphy. Drill intercepts of gold mineralization are as high as 8.2 g/T gold over 13 metres, including 17.7 g/T gold over 5.7 metres; and, 2.4 g/T gold over 71 metres which includes several high grade zones (see table below). For a video presentation on this project visit our website www.diamondsnorth.com.
“This low cost staking puts us into a project with wide zones of high grade gold mineralization and significant tonnage potential. As only a small portion of the zone has been tested, our objective is to drill along strike of the known mineralization along the host gabbro units to expand the gold-bearing mineralized zone,” says Mark Kolebaba President and CEO of Diamonds North.
Historical drilling on the property identified gold mineralized veins with good grade and width characteristics. The veins are hosted by linear gabbro units, and surrounded by volcanic and sedimentary rocks.
Read the full news release here. Image of Amaruk percusion drilling is from Diamonds North Resources.
