Diamonds North Resources has purchased the Esker gold property in Nunavut. This property covers the gold bearing stratigraphy for many kilometres.
The company has intersected 17.7 g/t gold over 5.7 m, 8.2 g/t gold over 13 m and also numerous high-grade gold zones.
Mark Kolebaba, CEO and President of the company, has stated that the inexpensive project involves the major tonnage prospective and excellent gold mineralization with wider zones. The goal of the company is to drill along the known mineralization strike, which is along the host gabbro units to extend the zone containing gold mineralization.
High-grade gold mineralized layers have been found through historical drilling at the property. Linear gabbro units host the mineralized veins and the sedimentary and volcanic rocks surround it.
The drilling results, structural and geologic analysis of the company implies the possibility of an important and constant tonnage over 5 km of folded gabbro units. The company has encountered significant gold in13 drill holes out of 18.
The main purpose of this exploration is to expand the main gold layer system and to drill the identified gold mineralization. The company will re-log the existing drill core and map the area of interest to verify the control of the gold mineralization structure.
Source: http://www.diamondsnorth.com/