Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Diamonds North Resources Ltd. announced on Wednesday that the 2011 exploration program has begun on the Hepburn property in the Northwest Territories. The program will focus on delineating areas of concentrated mineralization for drilling using induced polarization (IP) surveying and prospecting.
“The Hepburn property has already demonstrated high copper silver potential along with bismuth, uranium and gold credit. Successfully identifying drill targets on this property would be a significant advancement,” says Mark Kolebaba President and CEO of Diamonds North.
Initial grab samples from the property returned values up to 19.8% copper, 123.0 grams per tonne silver, 0.20% uranium and 0.17% bismuth. These showings appear to be associate with a 3.5 kilometre by 1.5 kilometre magnetic high which is semi-coincident with a radiometric anomaly detected by airborne surveying. Anomalous gold values suggest the system is gold bearing (see news release March 4, 2010).
In addition to the Hepburn property the Company is actively exploring for gold on Southern Nunavut properties including the Esker Property. To view a video presentation of the Esker Gold Property, visit our website www.diamondsnorth.com.
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