Diamonds North Resources Ltd V.DDN

Any difference between this NR vs the old one

[BabyE88]

It jumped to $0.90 from $0.77 on March 29, then backed off to $0.76 the next day. Why today's NR would make a big deal? After all, it was a RC not Core Drill. Will the market give DDN the credit this time? If so, why? Why STA got investors more excited? ------------------------------------------------------------------ Diamonds North Resources Recovers 515 Diamonds Thursday March 29, 2007 7:30 am ET VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2007) - Diamonds North Resources Ltd. (TSX VENTURE:DDN - News) announces that a total of 515 diamonds including 15 macrodiamonds, were recovered from a 397.05 kilogram sample collected from a second drill hole into the Qavvik kimberlite. The Qavvik kimberlite is located on the Company's 100% owned Amaruk property in the Pelly Bay Diamond District of Nunavut. A total of 15 macrodiamonds (0.5mm in one dimension) have been recovered from this sample and the dimensions for the three largest diamonds are: 0.97mm x 0.86mm x 0.71mm; 0.94mm x 0.63mm x 0.52mm and 0.71mm x 0.66mm x 0.53mm. In addition, a high proportion of the diamonds are white, octahedral and exhibit high clarity, consistent with the first sample from Qavvik. "The high number of diamonds recovered from Qavvik is very promising. These results are consistent with if not more encouraging than the first sample recovered from Qavvik and increase the Company's confidence in the potential for another Ekati or Diavik discovery at Amaruk," says Mark Kolebaba, President and CEO of Diamond North Resources. Sieve data for 505 diamonds recovered from 397.05 kilograms of Qavvik kimberlite are shown in Table 1. Not shown in the table are 10 additional diamonds that passed through the 0.075mm sieve. Three intervals from a vertical reverse circulation (RC) drill hole were split into 2 portions, A and B, forming 6 samples. Table 1. Qavvik Diamond Results -------------------------------------------------------- Weight Sieve Sizes (mm) -------------------------------------------------------------------------- (kg) 0.075 0.105 0.150 0.212 0.300 0.425 0.600 Total -------------------------------------------------------------------------- Q 1a 60.10 21 21 16 7 2 0 0 67 -------------------------------------------------------------------------- Q 2a 70.40 16 34 14 5 6 0 0 75 -------------------------------------------------------------------------- Q 3a 61.70 3 39 13 8 4 0 0 67 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Q 1b(i) 73.53 11 27 19 9 3 2 0 71 -------------------------------------------------------------------------- Q 2b 68.71 52 39 16 12 6 2 0 127 -------------------------------------------------------------------------- Q 3b 62.61 34 29 16 12 6 0 1 98 -------------------------------------------------------------------------- Total 397.05 137 189 94 53 27 4 1 505 -------------------------------------------------------------------------- (i)Results are preliminary The diamond counts range from 1.8 stones per kilogram to 1.0 stone per kilogram. This is consistent with the first sample recovered from Qavvik which yielded diamonds at a rate of 1.5 diamonds per kilogram (see news release NR07-03 February 15th, 2007). Only 15% of the recovered diamonds are fragments. The Company views these results as very significant because it is generally considered positive to recover 1 diamond per kilogram from drill core. Recovering up to 1.8 diamonds per kilogram from RC drill cuttings (where significant diamond loss is anticipated) confirms Qavvik is highly diamondiferous. The Qavvik kimberlite is represented by a large 4.3 hectare magnetic anomaly and will be the target of a mini-bulk sample in 2007. The area immediately surrounding Qavvik also exhibits highly prospective mineral chemistry. This area will be a high priority for the 2007 exploration program as more than 25 targets have been identified to test. A vertical drill hole intersected kimberlite after penetrating 31.4 metres of overburden. The drill hole was terminated in kimberlite at 64 metres depth. The RC drill cuttings were logged in secure facilities at the Amaruk field camp by geoscientists. Samples were securely sealed in solid containers and shipped to SGS Lakefield Research in Ontario for processing. The results presented here were processed by SGS Lakefield Research using their standard caustic fusion diamond recovery method. The 0.075 mm sieve was added to evaluate breakage during drilling. The samples were split on a riffle splitter and each half of the sample (a and b) was processed separately by caustic fusion. SGS Lakefield is accredited by the Standards Council of Canada to the ISO/IEC Guide 25 standard for specific registered tests. As part of an ongoing Quality Control & Quality Assurance program, Diamonds North is conducting an audit of the results from Qavvik. 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. Diamonds North Resources 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. 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. Contact: Nancy Curry Diamonds North Resources Ltd. VP Corporate Communications [phone] [phone] (FAX) Email: [e-mail] Website: www.diamondsnorth.com Ali Mahdavi Genoa Management Limited [phone] [phone] (FAX) Email: [e-mail] Kevin O'Connor Genoa Management Limited [phone] [phone] (FAX) Email: [e-mail] or [e-mail]