VANCOUVER, BC–(Marketwired – July 24, 2017) – North Arrow Minerals Inc. (TSX VENTURE: NAR) is pleased to announce it has completed collection of a planned mini-bulk sample at the Q1-4 kimberlite as part of a $3.2M summer exploration program at the Company’s 100% owned Naujaat (now-yat; formerly Qilalugaq) and Mel Diamond Projects in Nunavut.
A total of 250 megabags of kimberlite with an approximate field weight of 234 (wet) tonnes, have been collected from a single sample pit at the Q1-4 kimberlite. The sample was collected using a mini-excavator with kimberlite exposed beneath 0.5 m to 1.0 m of glacial till. Initial evaluation of the exposed kimberlite identified a north trending internal contact between distinct kimberlite phases. Kimberlite to the west of the contact (field term “Green Kimberlite“) made up approximately 30% of the pit area and is described as a dark green, massive, very xenolith poor, very olivine rich, phlogopite coherent kimberlite with fine to very coarse macrocrysts (pre-dominantly olivine) and a good mantle sample. The remainder of the pit is comprised of a blue, massive, poorly sorted, xenolith poor, olivine rich volcaniclastic kimberlite with fine to very coarse olivine and a moderate mantle sample (field term “Blue Kimberlite‘). As a result of the presence of two distinct kimberlite units, the sample was divided into three subsamples: Blue Kimberlite (60 bags), Green Kimberlite (31 bags) and Mixed Blue-Green Kimberlite (159 bags). Final data collection, mapping and reclamation of the sample pit is currently underway and all of the sample bags have been transported to the company’s laydown 7 km to the south at the Hamlet of Naujaat. The sample will be shipped south on Naujaat’s annual sea-lift scheduled for arrival at the community on August 26th, and will be processed during the fall of 2017. The sample will be processed for the recovery of commercial sized (+0.85 mm) diamonds and the resultant diamond parcel will be used to provide a better understanding and indication of the diamond content, size distribution, and fancy colour diamond population within the sampled units. Results of the sample, and the ongoing delineation drill program, will be used to plan collection of a larger bulk sample in 2018.
About North Arrow Minerals
North Arrow is a Canadian based exploration company focused on the identification and evaluation of diamond exploration opportunities in Canada. North Arrow’s management, board of directors and advisors have significant successful experience in the Canadian diamond industry. North Arrow is currently evaluating a number of projects including the Naujaat (formerly Qilalugaq) (NU), Mel (NU), Pikoo (SK), LDG (NT), and Loki (NT) Diamond Projects. North Arrow also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ new Doris Gold Mine. North Arrow’s exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo. (ON), President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed the contents of this press release.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong”
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking statements” including but not limited to statements with respect to North Arrow’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although North Arrow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. North Arrow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.
- ^ north trending internal contact between distinct kimberlite phases (ctt.marketwire.com)
- ^ Green Kimberlite (ctt.marketwire.com)
- ^ Blue Kimberlite (ctt.marketwire.com)
- ^ http://www.marketwire.com/library/MwGo/2017/7/21/11G143068/Images/2017_Bulk_sample_pit_with_marked_kimb_contact_look-921940200d5caf04b055f9b824c379cb.JPG (www.marketwire.com)
- ^ www.northarrowminerals.com (www.northarrowminerals.com)