VANCOUVER, British Columbia, Jan. 24, 2019 — North Arrow Minerals Inc. (TSXV-NAR) is pleased to provide an update on the Company’s 100% owned Mel Diamond Project, Nunavut, including the first microdiamond recoveries from kimberlite ML8 (Lower) and initial kimberlite indicator mineral (KIM) results from 2018 till samples. Highlights of this update include:
- Kimberlite ML8 (Lower) is significantly diamondiferous, returning 8 diamonds greater than the 0.106 mm sieve size, including one diamond greater than the 0.85 mm sieve size, from caustic fusion processing of 24 kg of drill core;
- Caustic fusion processing of an additional 79.5 kg from the kimberlite ML8 surface showing (ML8 (Upper)) returned 13 diamonds greater than the 0.106 mm sieve size including one diamond greater than the 0.85 mm sieve size;
- New kimberlite indicator mineral (KIM) targets have been highlighted by preliminary results received for 144 of 447 till samples from the 2018 field program;
- KIM sorting of the remaining 303 till samples is ongoing.
President and CEO Ken Armstrong commented, “ML8 (Lower) is the second diamond bearing kimberlite to be identified at the Mel Diamond Project, and today’s results suggest it has strong potential to host a population of commercial sized (+1mm) diamonds. Furthermore, preliminary results from the 2018 till sampling program have expanded the exploration potential of this 56,075 ha property outside of the established KIM trains that led to the discovery of the ML8 (Upper), ML8 (Lower) and ML345 kimberlites. Planning is underway for a 2019 field program that will further evaluate the size and grade potential of these kimberlites and will test these new and existing KIM target areas.”
Kimberlite ML8 (Lower) was discovered by drilling in 2018 and is interpreted as a distinct occurrence from the kimberlite first discovered by North Arrow in August 2017 (referred to herein as ML8 (Upper)). Caustic fusion results for 24.15 kg of drill core from ML8 (Lower) as well as a 79.48 kg composite subcrop and float sample from ML8 (Upper) are summarized in the following table along with earlier reported microdiamond results:
|Number of Diamonds per Sieve Size (mm Square Mesh Sieve)|
|Sample Year||Body||Sample Weight Dry Kg||+0.106 -0.150||+0.150 -0.212||+0.212 -0.300||+0.300 -0.425||+0.425 -0.600||+0.600 -0.850||+0.850 -1.18||Total Stones|
The ML8 (Lower) sample is comprised of 24.15 kg of drill core collected from kimberlite intervals encountered in drill hole 18-ML-03 between 85.84 and 96.55m downhole. This interval contains intermixed coherent kimberlite, cracked country rock and country rock and is interpreted as distinct from the near vertical coherent kimberlite dyke ML8 (Upper) discovered at surface in 2017 and also intercepted in drill hole 18-ML-03 at 59.37m downhole. The 79.48 kg composite sample is part of approximately 208 kg of subcrop and float collected from kimberlite ML8 (Upper) during the summer 2018 exploration program. Details on the 2018 field program, including kimberlite drill intercepts, can be found in North Arrow news release dated September 24th, 2018. Diagrams comparing the microdiamond results from, and the relative positions of, ML8 (Upper) and ML8 (Lower) have been posted to North Arrow’s website.
North Arrow is also pleased to report that preliminary visual picking results have been received for 144 of 447 till samples collected during the 2018 field program. The nominal field weight for the samples was 10 kg and 78 of the 144 samples have returned between 1 and 7 KIMs, including picroilmenite and less common pyrope and eclogitic garnet and chromite. Selected indicator minerals from these samples have been submitted for microprobe confirmation and visual sorting of the remaining 303 samples is ongoing. Initial interpretation of these preliminary results highlights a broad target area of anomalous KIMs within the central portion of the property, to the south of kimberlites ML8 (Upper), ML8 (Lower) and ML345 and north of a previously defined cluster of anomalous KIM results in the southern part of the property.
Results from the remaining till samples are expected in the next six weeks and will be important for defining additional priority target areas within the Project. The Mel exploration camp, established during 2018, remains in place to support follow up 2019 exploration including additional till sampling, geophysical surveys and renewed exploration drilling.
Scientific and Technical Data
Diamond and till sample results reported in this news release are based on work completed by Microlithics Laboratories, Thunder Bay, Ontario, I&M Morrison Geological, Delta, British Columbia, and Saskatchewan Research Council, Saskatoon, Saskatchewan. All three are independent mineral process and sorting laboratories. Quality assurance protocols, security and actual operating procedures for the processing, transport and recovery of diamonds conform to industry standard Chain of Custody provisions. As part of North Arrow’s ongoing QA/QC programs, concentrate residues and other materials are subject to audit. Any significant changes to recovered diamond contents will be reported when available.
The Mel Diamond Project field program is managed by and under the supervision of, Michael MacMorran, P.Geo. (NU/NWT), Project Geologist for North Arrow. The Company’s diamond 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. MacMorran and Mr. Armstrong have 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 global diamond industry. North Arrow has discovered and is evaluating kimberlite fields at the Mel (NU) and Pikoo (SK) Projects, is evaluating KIM supported targets at the Loki Project (NWT) and has exposure to discovery drilling at the LDG JV Project (NWT) with partner Dominion Diamonds. The Company’s most advanced diamond project is the large, well located Q1-4 diamond deposit at the Naujaat Project (NU). The Company also maintains a 100% interest in the Hope Bay Oro Gold Project (NU), located approximately 3 km north of TMAC Resources’ Doris Gold Mine.
North Arrow Minerals Inc.
/s/ “Kenneth A. Armstrong” Kenneth Armstrong President and CEO
For further information, please contact: Ken Armstrong Tel: 604-668-8355 or 604-668-8354 Website: www.northarrowminerals.com
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.