Jul 16 2014
North Arrow Minerals Inc. and Arctic Star Exploration Corp. are pleased to announce the start of an exploration drilling program at the Redemption Diamond Project in the Northwest Territories. The property is located in the Lac de Gras region, approximately 32 km southwest of, and 47 km west of the Ekati and Diavik Diamond Mines, respectively.
Mobilization is underway for the approximately 1,000 m drilling program, which is intended to test six to eight priority drill targets located in the central part of the property. The targets have been identified based on results of a detailed data compilation and new airborne and ground geophysical surveys. The drill targets include various combinations of gravity, magnetic and electromagnetic geophysical responses that have been further prioritized based on their location with respect to the termination of the South Coppermine kimberlite indicator mineral train, which represents one of the last well defined and unsourced KIM trains in the Lac de Gras region. The discovery of even a single kimberlite from any of these top priority targets would upgrade a number of the remaining prospective targets within the Redemption property. The drill program is expected to run through to the middle of August. A follow up winter/spring 2015 drilling program will be required to test ice based targets.
North Arrow is exploring the Redemption property under an option agreement with Arctic Star, under which the Company can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017. North Arrow's diamond exploration programs are conducted under the direction of Kenneth Armstrong, P.Geo., President and CEO of North Arrow and a Qualified Person under NI 43-101. Mr. Armstrong has reviewed the contents of this press release.
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. In addition to the Redemption Project, North Arrow is presently conducting a bulk sampling program of the Q1-4 kimberlite at its Qilalugaq (NU) Project and is also evaluating each of the Pikoo (SK), Lac de Gras (NWT), Mel (NU), Luxx (NU) and Timiskaming (ON/QC) Diamond Projects.
North Arrow Minerals Inc.
Kenneth Armstrong, President and CEO